One BBB Complaint
Security Card Services currently has an “A+” rating with the Better Business Bureau and is not currently accredited with the BBB. The company has received 1 complaint through the BBB in the past three years. This complaint was related to a product or service issue and either was not resolved to the satisfaction of the merchant or did not receive a final evaluation from the merchant.
It is also worth noting that Security Credit Services has an “A+” rating with the BBB with 84 complaints in the past 36 months. We will not count this profile against Security Card Services, but we have mentioned it here in the interest of comprehensive reporting.
What Merchants Say
The sole complaint filed against Security Card Services appears to be directed to Security Credit Services and describes deceptive sales practices and poor customer service:
On May 3, 2019, I received a call from ************. The caller said he was calling from “Security **** ********” (www.securitycardservices.com), a service he claimed operates under the major credit card companies and credit bureaus. He said based on my good credit and excellent payment history I qualify for a permanent 0-6% interest rate on my credit cards. The caller made three promises if I signed up with a service he was offering: 1) That I would save a minimum of 15K 2) That I would pay off my debt 3-5x faster 3) That I would receive an interest rate of 0-3% or 0-6% on a permanent basis He detailed two available offers. The first offer was a balance transfer to a card with 0% interest. With this offer, interest will only increase if I miss three consecutive payments, at which point it would increase to 6% or 12%. The second offer he called the “Hardship Program,” for people with more than $8K or $9K of debt to a card. With this second offer, the card would be put on hold, my credit would not be affected, and once 50-60% of the debt is paid off, my interest would reduce to 0-6%. He went on to explain there are no annual or monthly fees, but there is a one-time service fee of $5,090, in which I have unlimited time to pay – I could gradually pay off the balance over time with the 0% interest. I was under the impression I was speaking with a legitimate service already tied to my credit cards, so I discussed with him three accounts with which I have high-interest rates and balances over $1K and I naively gave out my personal information. He said I qualify for the balance transfer offer so I can more easily pay off my debt. The call was then transferred to “**** ******** *********” (*****************************) using the phone number 1-************. I spoke to a gentleman by the name of “***** ***** who said I qualify for a new Discover card with 0% interest and no annual fees. With Discover, the 0% interest rate is good for 14 months, but with “Security **** ********” the rate will never go up as long as I don’t miss those three consecutive payments. “Mr. ***** opened a new Discover card under my name with a $24,500 credit line, lowered the one-time service fee to $4,690, which he charged to one of my existing credit cards. He said the balances from the three cards I provided will transfer to the new Discover card, which will come in the mail. Moments after the call, something about the call did not sit right with me. I spoke with a trusted friend who quickly advised me to call them back immediately and cancel the transaction. Because my interest rates on these cards are high and I’m not currently in a situation I can pay them off in full, I believed I was getting a good offer but I did not know that a balance transfer was something I could myself for free. I immediately called “**** ******** *********” back and was told “Mr. ***** had gone home for the day but they would NOT charge me for the service before I had the opportunity to speak with “Mr. ***** on Monday, however, the $4,690 charge for “Professional services” was posted over the weekend, on May 5. According to the charge on my credit card statement, “**** ******** *********” is operating under the name “**** ********.” May 6 I spoke to a “****** ******” at “**** ******** *********.” I insisted on canceling the service and receiving a refund. “Mr. ******” took on a very harassing tone and tried to convince me not to close my account, but I held firm. I was put on hold for several minutes and then he told me he would need to charge me a $990 cancellation fee and to call him back to cancel my new Discover card when it comes in the mail. I said I was unhappy, I wanted to close my account, I was never informed of a cancellation fee when I agreed to the contract, nor did I receive an agreement outlining the cancellation terms. Later that same day (5/6), I received another call and an email from “***** ***** at “**** ******** *********” offering a lower rate of $2,990 to complete the services. A follow-up docu-sign was sent shortly after, which I did not open, review, or sign. I responded to “Mr. ****’s” email that I wish to terminate my agreement, I would like a refund of $4,690, I do not want my balances transferred to the new Discover account, I do not wish to purchase the lower-rate plan, and I do not authorize any more charges.,
Security Card Services has responded to clarify that the merchant’s experience was with Security Credit Services.
An “A” Performance
Given the complaint total on Security Card Services’ profile, we agree with the BBB’s rating at this time.
