• Report:  #1406283

Complaint Review: Comenity Bank - Nationwide

Reported By:
aircondCorvair - Galion, Ohio, USA

Comenity Bank
Nationwide, USA
Tell us has your experience with this business or person been good? What's this?

Heere is my case:

In early 2016 I came across Glenridge Capital, an international (supposed) investment firm, who said that their way of invensing could and did produce very substantial returns. They ould direct me by phone n making the various and specific "investments" using their website, the money would be invested for 90 days, and would be available afterwards. They said I should use as much of my available credit on my credit cards, as the return would outpace even the cards' hith (25-30%) interest.

So using two cards, one was a Capital Onne credit card and the other a VISA card issued by Comenity Bank, I "purchased" an "investment account" and proceded as they directed. In order to open said account, I had to furnish certain documents to them, which as far as I knew was standard procedure for such operations. 

Wen the account matured on schedule, the return on the amount invested was actually not profitable, according to their final figurres. I was aware that there would be some losses, but was told they would be otweighed by those that gained. All that aside, when I attempted to withdraw the remaining listed money, I could not. This was true even after numerous attempts to reach them, and repeatedly trying to contact their tech support. It was then that I filed my first dispute with the redit card companies.

Capital One found in my favor, quickly cancelled the debt, and settled with me satisfactorily. Comenity did not, but found in favor of Glenridge. After almost a year (and paying on the Comenity issued card faithfully all that time) I had spent trying to contact Glenridge by phone and email, and getting only occasional responses, I filed my second complaint with Comenity. As to my contacts with Glenridge, they had boiled down to this, I was locked out of their site, at first because of my complaint, and then because (as they claimed) they didn't have the money but rather because Comenity had it. Comenity stated that it was Glenridge hat had the money.

By that point, it had becom obvious to me that Glenridge was nothing but a very elaborate scam operation. I did not get the "product" from them (an investment account) for which I had originally contracted, via credit card. I got nothing, ten or now. And that constitutes fraud by any reasonable person's definition. And i was unable to retrieve the moneyeither direcly or by any other means, as i only had the ability and/or knowledge to do so through the credit card company.

All semantics and technical points aside, the bottom line is that, for whatever reason or excuse, Comenity has again continued to side with the crooks. Simply put, Comenity Bank insists I owe them the entire R$8,000 charge, less the $2047.25 already paid to them. 

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