ComplaintsforCapitol Information Group Inc
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Complaint Details
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Initial Complaint
05/30/2023
- Complaint Type:
- Billing Issues
- Status:
- Resolved
intial problem started with a subscription service a year ago.It wasn't clear from their promotional offering that this would require a special type of trading account and that account needed to be funded with more than $10,000.They do NOT offer any refunds. I tried to cancel the service immediately but they refused.I have never used their services, so I lost $1950 last year.Now, ONE YEAR later, they have already charged me again for another year of service.I asked them a year ago to cancel any AUTOMATIC authorization for service renewal.So another $1950 charged to me for no reason for a service that I cannot use.There was NEVER any notification of a renewal charge coming due.Almost all companies do that as a courtesy so that renews can be cancelled.Business response
06/22/2023
Better Business Bureau
1411 K St. NW, 10th Floor
Washington, DC 20005-3404Dear BBB
I am writing in reference to the complaint that you received from ************************* concerning his “Velocity Trader” subscription.
*** ******* placed an order via the web on 06/28/22 for a 1-year subscription to our “Velocity Trader” newsletter. The terms of this offer that he purchased were stated during the promotional video presentation and again on the order form as shown below.
. $1,950 for 1 year
. By placing this order today, you’ll receive all of the benefits listed below. It also means you understand that this is a non-refundable purchase. For your convenience on your one-year anniversary we will bill your credit card for another year’s subscription fee. You can cancel this feature at any time.
. 1 Year of Velocity Trader, along with total access to the Velocity Trader website with portfolio updates, flash alerts, and member forums.
********************** subscription to Velocity Trader renewed on 05/30/23 and he contacted us on 05/31/23 to request a refund. Per his request, we canceled his subscription and issued him a full refund of $1950.00 on 06/01/23.
If you should have any questions concerning this account, please contact me at **************, Monday Friday, 8:30 a.m. 6:00 p.m., EST.
Sincerely,
** ***********************
Manager, Customer OperationsCustomer response
06/26/2023
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Regards,
*********************
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Contact Information
Customer Complaints Summary
2 total complaints in the last 3 years.
0 complaints closed in the last 12 months.