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 percent. The company has a solid track record and good rates to back its certified credit counselors. They also offer a limited money-back guarantee, which is uncommon in the industry. However, they lack some key accreditations and have some issues with transparency.
- Free consultation with a certified counselor
- Over 26 years in the industry
- ISO-certified business
CreditGuard offers a hassle-free, no-cost consultation over the phone with a certified counselor. This gives the counselor an opportunity to go over your situation and decide what program, if any, are a good fit for your circumstances. Should a client choose to enroll in the company’s services, they should expect their interest rates to be dropped and to pay one monthly payment to cover all their unsecured debts.
Accredited and Solid Reputation
CreditGuard has a fairly solid reputation considering it’s been in operation since the early 90s. Some customer reviews citing that the customer service representatives have been kind and helpful. 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. We like to see companies who maintain their accreditations, it shows dedication to best business practices and a certain level of quality in their services.
- Reports of hidden fees
- Lack of transparency
- No AICCA or NFCC accreditations
Lack of Transparency
The biggest concern we have with CreditGuard is that the monthly and up-front fees are undisclosed. Not only are their fees undisclosed, but they do not list an average interest rate of what customer’s should expect. Without this information it is difficult for potential customers to determine if CreditGuard is the right fit for their needs. It also makes it difficult for our team to rank their services without this information.
It is also unusual that CreditGuard, having been in business for as long as it has, lacks a few industry accreditations. Some of which include the AICCA and NFCC accreditations. This might suggest the company doesn’t always follow industry best practices. While this may not be a deal breaker, it should be considered when making the decision to work with a company.
In addition, there have been CreditGuard reviews of hidden recurring fees. Customers were unaware of these fees at the 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.
Prices are undisclosed at this time.
Prices are undisclosed at this time.
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
27 Years. This company has been in business since 1991.
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.
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