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Ladybbird · 19-06-23, 12:54

Canadian Credit Card Holders Out Thousands After Deal Between Company, Bank Goes Bad

Constance McCall says she sank deeper into debt while waiting for a refund on her secured credit card from Plastk.

BBC 19 JUNE 2023

Constance McCall can't catch a break.

The Edmonton woman needed to fix her credit score after getting divorced, so she signed up for a secured credit card that promised to help her do that.

Instead, she's out thousands of dollars, and left with a credit score that's worse than when she started.

McCall, 59, is one of many cardholders stuck in the middle of a bitter legal battle between the credit card company and the bank it partnered with, Calgary-based Digital Commerce Bank, also called DC Bank.

She signed up for the Visa through Plastk Financial & Rewards after seeing it recommended on Credit Karma, a website she trusted.

Plastk promises cardholders the chance to improve their credit scores by reporting their transactions to the credit bureau Equifax.

As a secured card, the credit limit matches whatever customers prepay for a security deposit — between $300 and $10,000.

Plastk says customers can cancel any time and get their deposit back after a two-month holding period if the account is in good standing.

After cancelling in December, McCall was expecting $4,500 to be returned in February. Without it, she's had to borrow from family and friends to pay for the basics.

"It was extremely humbling — $4,500 is not a little amount of money, especially for someone like myself. It's huge," she said.

"That was going to pay my next two months' rent, buy my food."

After Go Public brought McCall's case to the company's attention, Plastk refunded her entire deposit — four months after she was supposed to get it back.

19-06-23, 12:54	#1
Ladybbird Join Date: Feb 2011 Posts: 47,646 Thanks: 27,646 Thanked 14,458 Times in 10,262 Posts Awards Showcase Total Awards: 8	Canadian Credit Card Holders Out Thousands After Deal Goes Bad Canadian Credit Card Holders Out Thousands After Deal Between Company, Bank Goes Bad Constance McCall says she sank deeper into debt while waiting for a refund on her secured credit card from Plastk. BBC 19 JUNE 2023 Constance McCall can't catch a break. The Edmonton woman needed to fix her credit score after getting divorced, so she signed up for a secured credit card that promised to help her do that. Instead, she's out thousands of dollars, and left with a credit score that's worse than when she started. McCall, 59, is one of many cardholders stuck in the middle of a bitter legal battle between the credit card company and the bank it partnered with, Calgary-based Digital Commerce Bank, also called DC Bank. She signed up for the Visa through Plastk Financial & Rewards after seeing it recommended on Credit Karma, a website she trusted. Plastk promises cardholders the chance to improve their credit scores by reporting their transactions to the credit bureau Equifax. As a secured card, the credit limit matches whatever customers prepay for a security deposit — between $300 and $10,000. Plastk says customers can cancel any time and get their deposit back after a two-month holding period if the account is in good standing. After cancelling in December, McCall was expecting $4,500 to be returned in February. Without it, she's had to borrow from family and friends to pay for the basics. "It was extremely humbling — $4,500 is not a little amount of money, especially for someone like myself. It's huge," she said. "That was going to pay my next two months' rent, buy my food." After Go Public brought McCall's case to the company's attention, Plastk refunded her entire deposit — four months after she was supposed to get it back. __________________ PUTIN TRUMP & Netanyahu Will Meet in HELL ..................*SHARKS are Closing in on TRUMP*.......................... *TRUMP WARNS; 'There'll Be a Bloodbath* If I Don't Get Elected'..MAGA - MyAssGotArrested...IT's COMING** PLEASE HELP THIS SITE..Click DONATE & Thanks to ALL Members of ... 1.. THIS SITE IS MORE THAN JUST WAREZ...& TO STOP SPAM-IF YOU WANT TO POST, YOUR FIRST POST MUST BE IN WELCOMES

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