Preferred Merchant Services
Preferred Merchant Services Overview
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Preferred Merchant Services has a 1.0 star rating from 3 reviews; consumers report widespread dissatisfaction with unclear balances, high interest, and disputed payments.
Positive Feedback
A few customers praised staff and a smooth in-store purchase experience for select items.
Negative Feedback / Risk Areas
- Preferred Merchant Services reviews cite repeated billing discrepancies and unexplained balance increases.
- Customer complaints include cut calls, rude customer service, late withdrawals, and lack of statements.
- Reports mention aggressive collections, surprise renewals, and difficulty obtaining refunds or closing accounts.
Key Takeaways for Future Customers
- Get the contract and all statements in writing and monitor bank withdrawals closely.
- Confirm renewal, subscription, or auto-ship terms before signing and keep payment records for disputes.
- Consider alternatives and be prepared to escalate billing or refund issues with documented evidence.
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Preferred Merchant Services has a 1.0 star rating from 3 reviews; consumers report widespread dissatisfaction with unclear balances, high interest, and disputed payments.
Positive Feedback
A few customers praised staff and a smooth in-store purchase experience for select items.
Negative Feedback / Risk Areas
- Preferred Merchant Services reviews cite repeated billing discrepancies and unexplained balance increases.
- Customer complaints include cut calls, rude customer service, late withdrawals, and lack of statements.
- Reports mention aggressive collections, surprise renewals, and difficulty obtaining refunds or closing accounts.
Key Takeaways for Future Customers
- Get the contract and all statements in writing and monitor bank withdrawals closely.
- Confirm renewal, subscription, or auto-ship terms before signing and keep payment records for disputes.
- Consider alternatives and be prepared to escalate billing or refund issues with documented evidence.
Euless, Texas
Cut my call twice
non-professionals cut my call twice when I was explaining my situation and I always pay on time
Albuquerque, New Mexico
NEVER. EVER. EVER. EVER. TRUST. THIS. COMPANY.
I bought a bed. $499 loan.
They told me my $50 every two weeks would apply toward my balance. I paid $400 by December.
I went to check my payoff and I still owe $678?!? HOW??
HORRIBLE
- - Paid 1290 on a 1200 purchase and I am told I still owe 878.
- - No statements explain where my money went; I have a receipt and no contract.
Paying almost 3 grand for a 1200 purchase is beyond insane. I paid 1290 out , and they’re still saying I owe 878?
No statements from you guys explaining where my money is going! I want my account closed! I am closing my bank account. Report to my credit I will dispute it.
I have my bank statements showing I paid the amount I owe. No contract was ever made to me.
I was only given the receipt from the furniture store. RIP OFFS
- High interest
- Does not send statements or payments
- Scammers
Preferred solution: Price reduction
HORRIBLE CROOKS!!!
- - The washer's cash price was $532.48.
- - I paid $97 monthly for four months.
- - Two months before last payment, I was told to pay $777 to avoid renewal.
This company is Horrible! I can’t believe they are able to get away with how they are running their business.
The cash price for the washer I purchased was $532.48. I allowed them to take $97.00 monthly payments out of my account for four months. Two months before my last payment; I was told since I did not renew their agreement I have to pay an additional $777.00 to them. I was highly upset and wanted some answers.
I asked to speak with a Supervisor or Manager and was told that ‘Sarah’ was not available; I have yet to hear from a Supervisor, Manager, or ‘Sarah’.
When I spoke to a Representative before taking out this loan I was not aware of a renewal, their ‘so called’ policy. If you are thinking about going with this company ‘DON’T!’ I can’t wait until this company gets a class action lawsuit.
Preferred solution: Let the company propose a solution
Is there a way we can contact you about starting a class action against this company? I also was ripped off by this company. Pleas send me contact info
Replying to
Rip off!
- - No way to monitor payments.
- - I paid off in 90 days, but they claimed a missed payment.
- - Merchants preferred hustling; SNAP is the better option.
There's no way to monitor payments, i paid the contract off in 90 days yet they said i missed a payment. Seeing as how they remove payments from my account i can't see how this is possible.
This is a horrible service SNAP is definitly the better option. Merchants preferred is looking to hustle you out of your money!
I am organizing a class action against them. They are a dishonest company and are committing mail fraud. I am also writing the FBI because they are committing mail fraud.
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Verified Reviewer |
Atlanta, Georgia
Horrible service!!! Bad business
- - Payments are withdrawn late, causing my account to go negative.
- - They harass you for payment, charge outrageous fees, and have rude reps.
They were always late taking the payment out of my account causing my account to go in the rear. Also their miscellaneous outrageous fees they come up with.
Tried calling customer service was on hold for almost 30 mins. They are very rude with customers.
They don't do their jobs one person I talked to was suppose to note my account about my payment but didn't so other reps were calling my phone non stop. They will harass you until they get their payment.
I am glad I came here and read the reviews of preferred merchant credit. I purchased a couch and recliner from a store call trendy furniture sales.
There in florence ky 41042 I did a contract 90 days same as cash on 1/14/19. Gary the manager of the store. There would be a application fee of 29.00 and could be taken out using my debit card. He was right about that and I seen was taken out.
But I look for the month of February they took 27.82 out from my debit card. I will be calling them and they get me my money back. The reviews I read here I am going to pay them off. And be done with them.
I am going to put on social media. That are ripping people off.
Atlanta, Georgia
RIPPED OFF
- - Paid $960 in a year on a $550 balance with $40 biweekly.
- - Total cost is $1,500 for a $550 item; ~200% interest; misinformed by store and lender.
I opened my account on the date of 2/17 the total for my contract states 550.00 , which is to be paid bi weekly in the amount of 40.00. When I signed my contract I went over it with the furniture store and I was informed that this payment will come out until the full balance was paid plus interest.
I have been paying this amount for approximately 1 year which has totaled 960.00 which is the payment amount plus interest. I was informed that it will take about 1 year to pay this balance in full , I asked all the important questions pertaining this and I was informed that I will receive information from Merchants Preferred Lease to which I have not until today. I was informed that I will have to pay a total of 1500.00 for an item that is 550.00 which is almost 200% interest , which is absolutely ridiculous.
I spoke to a rep at there company Althea and she informed me that that is just how the business goes. This is a total rip off and I was misinformed from the furniture company as well as Merchants Preferred Lease.
Preferred solution: I want this account closed I have paid the amount plus interest. I was told I will be paying for 1 year and this month marks that year. You have received a total of 960.00 for a 550.00 dinette set. You are requested me pay for 700.00.
I have already paid over $2,100 for items that totaled $1,300 and I have to continue paying for several more months or do a "payoff" for around $1,000. RIPOFF ARTISTS!!!!
Love it
Bought a 60 inch smart TV wonderful place love it will be more shopping the staff is great
Not what they advertised!
- - 3-month no-interest on $888 financing for a sectional.
- - Paying off early triggers full 12-month interest; no 90-day extension; balance over $1,300.
I financed a sectional through this company and was told if I paid it off in 3 months I would receive no interest payments. I was unable to pay the full $888 within 3 months, which didn't worry me much considering I was planning to pay it 2 week after my 90 days, thinking there would be only small amount of accumulation of interest within 2 weeks.
When I tried to pay it off I was told my new balance was over $1300.00. My 90 expired on December 9th and I tried to pay it off December 14th when I became aware of this and I was told there was no type of extension. basically if I were to pay it off now it would be the same as continuing to pay my small payments biweekly. There Is in a jist a penalty for paying your account off early.
Manager told the interest in entirety for a full 12 months is put into effect on the 91st day so no matter how soon you pay it, you still pay the full amount plus full interest amount. DO NOT LET THIS COMPANY FINESS YOU AS WELL!!!!!
This company is full of *** they don't tell you everything up front. They are beating you out of your hard earned money. We need to get together and file a lawsuit on they crooked ***
San Jose, California
RIPPED OFF BY TIM LANE
- - Promised a loan but never delivered.
- - Rep is tied to Preferred Merchant Services and Northern Leasing Company.
- - Do not share personal information with the representative.
Made promises on a loan that he never delivered on. I'm too furious too type.
He works for Preferred Merchant Services who lease there equipment from Northern Leasing Company...RUN FROM TIM LANE-Beware of this ***-man! I can't find any good words to say about this deceptive way Tim came in my business claiming he was referred by a local business who happened to be attorneys so I thought he was a legitimate man but I did research and these attorneys don't even know who Tim Lane is.
PLEASE DO NOT SHARE ANY OF YOUR PERSONAL INFORMATION WITH TIM. HE IS A *** MAN
Hi, Tim did it to me also. Basically started out as about $5000.00 loss due to him, but then it snowballed into a lot more.
Everything you said he did and said to you, he did to me. RAT, RAT, RAT,
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NEVER use this place. NEVER do.
I'm paying 1300 for a 500 dollar loan. They lied, straight through their teeth. LIED directly to my face, telling me that my 100 a month payment would go toward my balance...it did not. It was NEVER applied to my balance and at the end, when I tried to pay it off, they are now charging me 50 every two weeks with nearly 95 percent interest.
DO. NOT. USE.
THIS. PLACE.