Sometimes last week the fool me paid CGS a fee of £49.95 + £.50 donated to a charity and promised me a guarantee to obtain a credit card. A few days later a letter arrived from CGS undated telling me to make an application direct to the website suggested, I have been turned by down in many occassion to obtain a credit card in the past, and I thought CGS can do miracle! My application was declined again, so I phoned CGS & asked for a refund, and they said will try again and send me more details, anyway I have no trust with this company can do a miracle. So I phoned OFT and they told me that CGS are in breach of contract and suggested me to write a letter to them requesting for a refund. Thats what I did today. Anybody there have the same experience???

 

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FUSION2

Let me put it this way - no-one can guarantee to get you something that you cannot get yourself unless they are doing something that is not 100% legal in the financial world. If CGS has made the somewhat rash GUARANTEE without reservations that they can get you a credit card and you have read every piece of small print that ensures that guarantee, then you should demand a refund as stated by the OFT for Breach of Contract, but beware. There is usually some weasel clause that gets them off the hook which is not easily found in the Ts and Cs.

SHARK! 

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For every positive action, there's an equal and opposite government plan.

Fusion2  &  Shark  ---  I would think they fit into the rules as credit brokers in the same respect as loan companies, therefore the ruling below by the OFT should also apply to them. It is after all a source of credit that has been applied for. !!!

 

 

The Office of Fair Trading (OFT) has reminded consumers who use credit brokers to find sources of credit that if they are not found a suitable loan within six months and don't take up any loan offered - for whatever reason - the broker can keep only £5 of the arrangement fee.

The OFT has found that some brokers are targeting disadvantaged consumers and not making them aware, until after the fee (usually around £50) is paid, that the prospective credit provider will only lend the consumer amounts less than they are asking for or that loans are only available with a guarantor.

It advises any consumer who isn’t happy with the credit agreement on offer from their broker to request in writing that the broker's fee be refunded, less £5.

Credit brokers cannot contract out of these provisions and any such terms within their contract may be void under the Consumer Credit Act. Brokers who fail to refund fees in these circumstances risk losing their consumer credit licence or face action under the Enterprise Act in order to ensure compliance in future.

Consumers who have difficulty obtaining a refund should contact their local trading standards service or the OFT.

I have tried repeatedly this afternoon to get onto their web site which has mysteriously disappeared.

That should tell you all you need to know.

SHARK! 

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For every positive action, there's an equal and opposite government plan.

Hi Shark

Below is their website.  Is available still. What the OFT said was they are in Breach of Contract under Consumer Protection Distance Selling Regulation 2000

 www.cgscreditcards.co.uk

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FUSION2

Fusion2:

Sometimes last week the fool me paid CGS a fee of £49.95 + £.50 donated to a charity and promised me a guarantee to obtain a credit card. A few days later a letter arrived from CGS undated telling me to make an application direct to the website suggested, I have been turned by down in many occassion to obtain a credit card in the past, and I thought CGS can do miracle! My application was declined again, so I phoned CGS & asked for a refund, and they said will try again and send me more details, anyway I have no trust with this company can do a miracle. So I phoned OFT and they told me that CGS are in breach of contract and suggested me to write a letter to them requesting for a refund. Thats what I did today. Anybody there have the same experience???

 

Anyway with regards to the above subject, GOOD NEWS - THEY HAVE SEND ME A CHEQUE OF £44.95 MINUS £5 for their fee and £.049 pence given to charity - I am not sure true or not. At least I learn my lesson now.

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FUSION2

Hi there, I work for CGS. We specialise in matching clients to credit cards that will accept them and charge a simple one off fee for doing this. 

Just to confirm we do offer a money back guarantee in the event that we are unable to find any customer a credit card. It looks like in this case Fusion2 has written in and been issued with a refund with a refund within a couple of days which is our normal procedure where a customer is unable to get a card or is unhappy with the options offered to them.

If anyone else reading this is having a problem with our company for any reason or is in any way dissatisfied please email me directly on james.benamor AT postnet.uk.com and I will personally arrange an immediate refund for you.

hi there

the same thing is happening to me. have not even had a reply from the credit card companies suggested by cgs.

i made a point of phoning them to say i was not willing to pay the set up fee if i was not gonna get a card at all as i had the same problem with yes loans. i was  assured there was one waiting for me ready to go and i would recieve it in five days.

contacted cgs today they just wanna put me onto someone else and the credit card company is refusing to talk to anyone thats applied in the last 21 days.

my fear is what is this doing to my credit score? making it worse i suspect. what happens now thats 2 companies that have let me down

i had the same experience with cgs i did expect them to apply for a credit card for myself as i had paid them the £50 i got a letter saying that i should apply for a capital one card so i phoned and i was told that i had to aply my self well if that was the case i could of saved £50 and applied myself well i have been turned down for this card and guess what they have passed on my details to a loan company advantage loans who wanty another £50 to find me a loan some how i dont think so not falling for it twice.

same here, i rang tenantsloan and they charge me 49pounds plus .50 for charity so they could find me a lender and CGS sent me an approved applicaton form??? worth 2000pounds but i have to send a cheque of 49pounds. AGAIN??? why do they have to charge again????

hi there

 please do not apply to yes loans they did the same thing as cgs. tho they did find me a loan they needed a guarentor.

i have spoken to oft who say we can tell the companies we want our money back and they must do this minus £5.00 whether they find you a loan or not or for whatever reason you have declined them yourself.

i have also been informed its has made our credit rating even worse. these companies can not do anything to repair your credit that you cant do yourself.