Complaint Review: American Financial Card

This company uses key words to get your attention....

we offer a "credit card" with a $$$$ limit
we offer "cash advances"
we will report your payment history to the credit bureau

Generally, people think of Visa, MasterCard, Discoverer which is accepted world wide. This company offers a "merchant" card to order merchandise from their catalogue ONLY. Payment vouchers of $50 are promised to that equal the amount of the deposit ($200). However, they are only valid after the consumer pays 35% percent of the order. The $50 voucher can be applied. Cash advances are only available through a third party lender, AFTER payment history has been established. Also there is no indication that the payment history is actually being reported to the credit agencies.

But there is hope in getting your money back. Submit a return of funds via your bank (within 60 days). Indicate that this company did not honestly represent themselves and the bank will work toward obtaining a refund.

Next, work with our bank to established a secured credit card. And of course, banks do report your payments to the credit agencies.

I was able to get my funds returned and will NEVER work with such a company and attempt to spread this to everyone that I know.

Katherine
Detroit, Michigan
U.S.A.