- Report: #454692
Complaint Review: Continental Finance - Newark Delaware
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Author Confirmed
Why?
Continental Finance
PO Box 8099 Newark, 19714-8099 Delaware, U.S.A.
Phone:
800-518-6141
Web:
N/A
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First Bank Of Delaware , Continental Finance Deceptive credit card company. Do not accept this card, it's a trap! Newark Delaware
This company offers a credit card under the guise of repairing your credit. I have had this card for approximately a year, and they have in fact reported to my credit file. That is the only good thing I have to say about them.
Most repair card companies will offer you a card with a small beginning limit, then run it up before you even get the card leaving you with a initial credit amount of $50. This is normal, and I can live with that. I did not get the card to use it, just to fix my credit.
Now the bad:
They will hold your payment after they receive and process it for 8-10 days before releasing it to your available limit, even after they have received the money from your bank. If they happen to charge you an "account maintenance fee" while they are still holding your payment, they will charge you another fee. This will lead to another fee. I have never been late with a payment with this company. Now even though my payments aren't late, they still count it as late because they hold your money for 8-10 days after the bank has paid them. They dont apply it to your account, adding up "over limit fees" and "late fees". That is in addition to the outrageous term fees they already apply for "account maintenance".
You will not be able to pay down your account due to this scheme. It's all perfectly legal of course, and they know they now have you in a trap.
Do not apply for this card. Do not accept this card. They are deceptive from the beginning. If you have a card with them currently, I suggest you bite the bullet, pay it off and find another company. First Premier Bank is the same type of lender, but more reasonable.
Robert
Lakewood, Ohio
U.S.A.
Most repair card companies will offer you a card with a small beginning limit, then run it up before you even get the card leaving you with a initial credit amount of $50. This is normal, and I can live with that. I did not get the card to use it, just to fix my credit.
Now the bad:
They will hold your payment after they receive and process it for 8-10 days before releasing it to your available limit, even after they have received the money from your bank. If they happen to charge you an "account maintenance fee" while they are still holding your payment, they will charge you another fee. This will lead to another fee. I have never been late with a payment with this company. Now even though my payments aren't late, they still count it as late because they hold your money for 8-10 days after the bank has paid them. They dont apply it to your account, adding up "over limit fees" and "late fees". That is in addition to the outrageous term fees they already apply for "account maintenance".
You will not be able to pay down your account due to this scheme. It's all perfectly legal of course, and they know they now have you in a trap.
Do not apply for this card. Do not accept this card. They are deceptive from the beginning. If you have a card with them currently, I suggest you bite the bullet, pay it off and find another company. First Premier Bank is the same type of lender, but more reasonable.
Robert
Lakewood, Ohio
U.S.A.
4 Updates & Rebuttals
Wayne6372
Quarryville,Pennsylvania,
U.S.A.
This Card also contains high mantinance fees !!
#2Consumer Comment
Wed, June 17, 2009
I have had my card for 16 months and would not recommend anyone use this company as well.My fees amount to $ 330.00 a year even if i do not use the card.Unfortunately this is my oldest credit card account and i am stuck keeping it open.Please anyone seeking this card, do not.It will cost you dearly in the long run !! I do not believe you can even apply for one no longer.The only thing good from this company is they have reported my payment history to all 3 bureaus.They will also give credit increases of $75.00 every six months , if you are not late.The fee to get the increase is $ 50.00 to get the increase tho.Also there is a $ 15.00 maintenance fee per month even if you have a zero balance.I can not wait to get a card to let me transfer this balance, then in the shredder this one goes , even if it is my oldest account.
Wayne6372
Quarryville,Pennsylvania,
U.S.A.
This Card also contains high mantinance fees !!
#3Consumer Comment
Wed, June 17, 2009
I have had my card for 16 months and would not recommend anyone use this company as well.My fees amount to $ 330.00 a year even if i do not use the card.Unfortunately this is my oldest credit card account and i am stuck keeping it open.Please anyone seeking this card, do not.It will cost you dearly in the long run !! I do not believe you can even apply for one no longer.The only thing good from this company is they have reported my payment history to all 3 bureaus.They will also give credit increases of $75.00 every six months , if you are not late.The fee to get the increase is $ 50.00 to get the increase tho.Also there is a $ 15.00 maintenance fee per month even if you have a zero balance.I can not wait to get a card to let me transfer this balance, then in the shredder this one goes , even if it is my oldest account.
Wayne6372
Quarryville,Pennsylvania,
U.S.A.
This Card also contains high mantinance fees !!
#4Consumer Comment
Wed, June 17, 2009
I have had my card for 16 months and would not recommend anyone use this company as well.My fees amount to $ 330.00 a year even if i do not use the card.Unfortunately this is my oldest credit card account and i am stuck keeping it open.Please anyone seeking this card, do not.It will cost you dearly in the long run !! I do not believe you can even apply for one no longer.The only thing good from this company is they have reported my payment history to all 3 bureaus.They will also give credit increases of $75.00 every six months , if you are not late.The fee to get the increase is $ 50.00 to get the increase tho.Also there is a $ 15.00 maintenance fee per month even if you have a zero balance.I can not wait to get a card to let me transfer this balance, then in the shredder this one goes , even if it is my oldest account.
Wayne6372
Quarryville,Pennsylvania,
U.S.A.
This Card also contains high mantinance fees !!
#5Consumer Comment
Wed, June 17, 2009
I have had my card for 16 months and would not recommend anyone use this company as well.My fees amount to $ 330.00 a year even if i do not use the card.Unfortunately this is my oldest credit card account and i am stuck keeping it open.Please anyone seeking this card, do not.It will cost you dearly in the long run !! I do not believe you can even apply for one no longer.The only thing good from this company is they have reported my payment history to all 3 bureaus.They will also give credit increases of $75.00 every six months , if you are not late.The fee to get the increase is $ 50.00 to get the increase tho.Also there is a $ 15.00 maintenance fee per month even if you have a zero balance.I can not wait to get a card to let me transfer this balance, then in the shredder this one goes , even if it is my oldest account.
