Since 1991, CreditGuard of America has been helping clients consolidate and eliminate credit card debt with the goal of reducing monthly payments by 30 to 50%. The company has a solid track record and good rates to back its certified credit counselors, but lack a some key accreditations and may charge a higher monthly fee than most.
- Free consultation on the phone to go over your debt
- A+ rating with the BBB
- Certified credit counselors to talk to
- ISO-certified business (a major industry accreditations_
Like most debt consolidation companies, CreditGuard of America offers a hassle-free, no-cost consultation over the phone to ensure a good fit. Should a client choose to enroll in the company’s services, the setup fee is reasonable (up to $50), and they can see their interest rates cut down to 8.33% which is average for the industry, but better than most credit cards.
CreditGuard of America has a fairly solid reputation considering it’s been in operation since the early 90s, with some customer reviews citing that the customer service reps have been kind and helpful. The A+ rating with the BBB suggests that the company does at least work to resolve any concerns or misunderstandings that might arise and the ISO 9001 certification indicates that it is regularly audited to ensure legitimacy.
- A monthly fee of $0 – $75- higher than competitors
- Reports of hidden fees
- No AICCA or NFCC accreditations (major industry accreditations)
The biggest concern we have with CreditGuard of America is that the monthly fees for the service go up to $75 per month, which is higher than much of the competition. It is also unusual that CGA, having been in business for as long as it has, lacks a few industry accreditations, including AICCA and NFCC accreditations. This might suggest the company either doesn’t always follow industry best practices.
In addition, there have been CreditGuard of America reviews of hidden recurring fees that they were unaware they agreed to at time of signing. That said, it seems that the company does make a good faith effort to resolve problems brought to their attention.
Although there are no cancellation fees and they offer a money-back guarantee, clients will not be reimbursed the monthly administrator fee if they decide to cancel. Under some circumstances clients won’t pay anything for the services, so this guarantee policy won’t affect everyone equally.
Pricing varies depending on the customer’s specific circumstances. One goal of this company is to reduce all your monthly payments into one single payment that saves you money and lowers interest rates. Keep in mind that an administration fee may also be included in your monthly payment. The fee amount can differ depending on factors like state guidelines, but will not exceed $69.
There is an upfront fee with this company to get things rolling. Because CreditGuard of America is a non-profit organization, this fee depends on state guidelines. Depending on your situation, the fee may be up to $49, but likely less.
Customers will be reimbursed the state fee charged at signup if they cancel within 90 days of starting a plan or service. If you cancel after 90 days, you will not be reimbursed any money.
You can receive a consultation from a certified credit counselor free of charge. The counselor can assess your financial needs and give you an estimated monthly payment amount before you commit to any plan or service. If you decide to proceed, a written debt consolidation plan will be created that is affordable for the customer.
Time in Business
24 Years. This company has been in business since 1991.
The BBB rates CreditGuard of America an “A+”. This company has received a few complaints in the last 3 years. However, the company appears to have resolved all issues to a degree that satisfies the customer. This shows that CreditGuard of America is active in ensuring each customer is satisfied.
CreditGuard of America offers multiple tools and resources to help customers enhance their financial understanding. Specific areas include credit and money management, debt collection and fair collection practices. There is also a variety of financial calculators such as a household budget calculator and a Rent vs. Buy calculator. These are useful tools which can be utilized by anyone for free online, even if you’re not currently struggling with debt.
Unsecured vs. Secured Loans
CreditGuard of America handles unsecured debt. This company is able to compile all your debts into only monthly payment. One service listed in particular is student loan consolidation. CreditGuard is experienced in helping students reduce the burden of student loans by reducing monthly payments to match the customer’s budget.
This site is not mobile responsive. The company website functions alright on mobile devices.
There are no fees or penalties associated with cancellation.
Monday-Thursday 8:00 am – 10:00 pm EST
Friday – 8:00 am – 9:00 pm EST
Saturday 10:00 – 5:30 pm EST
5300 Broken Sound Blvd NW
Boca Raton, FL 33487
They can help with a debt management program tailored to your needs for unsecured debts. They also offer debt consolidation loans, which will effectively take your debts from multiple lenders and combine them into a single loan. This is useful for lowering interest rates and reducing monthly payments. CreditGuard of America also has partnered with many community services such as Adopt-A-Family, which sponsors families facing financial crisis during Thanksgiving and Christmas.
Minimum Debt Accepted
You must have at least $2,000 of unsecured debt to qualify for a debt management program. In addition, you must be between 30-90 days behind on your monthly payments. You may still qualify if you are in danger of falling behind on payments due to circumstances such as loss of income. Even if you are making monthly payments on time, you might still qualify if you feel you are not getting ahead and would like financial assistance.
CreditGuard of America customers are able to login through the CGA website to monitor the status of their debt payments.
Their employees are not CPFC certified, but they are Accredited Credit Counselors (ACC).
CreditGuard of America is ISO certified.
Are there any inaccuracies in this review? We take our accuracy very seriously and would love your feedback. Give feedback here.