Primerica and Travelers Bank and Trust pyramid type scam
Primerica is a pyramid type scam. They offer bill consolidation with biweekly payments to "save you money". The people that sell this scam then recruit people they they "help" to work for them in a multilevel marketing commission type relationship. That is just one problem with this group. Where they take your money is in charges and other costs.
For one they tried a higher rate than I was told originally. Secondly, they have a high point percentage. Thirdly, pay-off penalties will be as follows. If you pay-off within 1 year of loan you will be penalized 5%, 2 years 4%, 3 years 3%, 4 years 2%, 5 years 1%, regardless of reason.
I accepted a better job within a year of my loan unexpectedly. Between establishing a new residence in another state and all the cost accociated with that (closing costs, down payments, connection cost, etc.) and supporting a family while my wife was trying to find a job, oh and making a second house payment to Travelers, I was in a financial bind.
For 2 months I had two make two house payments. Travelers ALWAYS got their money on time from me, ALWAYS. Upon selling my old house mortgaged with Traveler they penalized me 5%. Not expecting that I had to end up paying $600 at closing to pay off my mortgage. Money I couldn't pay at that second. When I told them of my situation and asked to get the penalty waived so I could pay my loan off with them. I WAS DENIED. That is how Travelers rewards good credit customers.