Post #1
This is the first of three posts that may provide some background on the FDIC complaint involving BestBank, its former CEO and president, and the two principal shareholders of CLCK.
A Western Pennsylvania Better Business Bureau alert from this spring:
FOR IMMEDIATE RELEASE
Contact: Jennifer Boerio
March 26, 1998
412-456-2735 ext 119 - media
412-456-2700 - public inquiries
BBB Warns: Get Facts Before Applying
for Credit/Travel Offer
Pittsburgh, March 26, 1998. The Better Business Bureau of Western Pennsylvania has begun to receive inquiries about a credit card offer that automatically enrolls applicants into a travel club out of Florida, using a Uniontown, Pennsylvania post office box. The BBB is investigating the offer and would like to hear from anyone who applied for the credit card and travel club.
The solicitation, from All Around Travel Club (AATC) of Lauderdale Lakes, Florida, offers few details about the travel club, stating that the one-time $498 membership fee provides access to "AATC's huge inventory of super discounted vacations." Vacations mentioned include Las Vegas, Orlando, Cancun and a cruise on the Sea Escape ship to the Bahamas.
According to the offer, through a "special arrangement" between AATC and BestBank of Boulder Colorado, the applicant will receive an unsecured VISA7 with a $600 starting credit line. After the price of the travel club and the $45 annual fee is charged to the account, the card holder is left with less than $80 credit.
BestBank, also known as BankCard Center, has an unsatisfactory record with the BBB of Denver due to numerous complaints reporting dissatisfaction with sales tactics, billing and fee disputes, and the inability to resolve problems and close accounts. BestBank has responded to most complaints, although consumers were not always satisfied with the firm's response. Some complaints remain
unanswered.
The BBB of Western Pennsylvania has sent two requests for information to the Uniontown post office box address and has not received a response. The BBB is continuing to try to obtain information about the company and travel club membership benefits. The Florida Department of Agriculture and Consumer Services reports that it has received 14 complaints against AATC from 1996 through March 20, 1998. According to registration papers filed with the Florida agency, the vice president of AATC is the same person who is president of BestBank. ...
pittsburgh.bbb.org
Note that the last quoted sentence may be incorrect. According to Florida records that I have seen, Douglas R. Baetz is the VP of AATC while the former BestBank president (prior to the FDIC receivership) was Thomas A. Boyd according to the Denver Post article: denverpost.com. |
