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Trade Capital Company / Do not do business with this company

1 United States Review updated:
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Trade Capital (TC) is a licensed lending institution that promotes a variety of personal and business credit building "tools." Based upon their advertising on their website (in which I have in JPEG format upon request), if I signed up for their Deposit Loan Program, they claimed to report the account to Experian and Transunion. They never did. I contacted TC, who proceeded to tell me I had to sign up with a different company (Virgin Money) and they would report the account. I signed up with Virgin Money, and again, no reporting ever happened. I then requested a refund and they refused. I then threatened to file a complaint, and was threatened in the following way by the CEO, Jonathan Warren: "I assure you that your threats are taken very seriously. Your specific, stated intent is to disrupt or sabotage our business operations. Such actions taken by you or others on your behalf would likely constitute Intentional Interference with Contractual Relations, abuse of process and more." If this is supposed to be some sort of implied threat, it won't work on me. TC is falsely advertising credit bureau reporting with its' "Standard" Deposit Loan Program. Their conduct has been highly unethical and unprofessional. My advice: Do not do business with this company and avoid Jonathan Warren.


More Trade Capital Company Complaints & Reviews

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  • Mo
      19th of Apr, 2008
    0 Votes

    Several people I know have had problems with Trade Capital's Deposit Loan Program. Jonathan Warren (president of Trade Capital) pretends he has no idea of any problems, yet these people email him and call repeatedly to get their problem fixed or get their money refunded. Credit Bureau reporting issues have been the central issue. Anytime a licensed lending institution can't report through their subscriber gateway, that's a huge problem. And when people are denied a refund after spending $750+ with absolutely no benefit to their credit profile, they get pretty upset. Regardless, Jonathan Warren doesn't seem to care. It's really unfortunate because Trade Capital could have avoided these complaints as well as being listed on www.[redacted].com if Jonathan Warren would have acted with some professionalism. I tried to warn Jonathan Warren repeatedly, and he told me to stop interfering with his business. Jon: Next time if you want my advice, then you're going to have to pay me for it (but I probably wouldn't accept your money anyway.) I would certainly avoid doing business with Trade Capital Company and Jonathan Warren.

  • Mi
      29th of Apr, 2008
    0 Votes

    Trade Capital Company scammed me for $1, 500. There was credit reporting problems with the Loan Service Center, and all they did was drag their feet and tell me to be patient. 2 years later, and I still have nothing to show for my investment. This is the first time in my life I have been taken. Jonathan Warren is a total crook, and even one of his former "high-ups" stopped working for him because of this. Just like any scam artist, he tries to turn things around and attack and slander those who he's ripped off. Jonathan Warren is not a moral, ethical business man. His conduct is catching up with him, and he still takes no responsibility for it. Instead, he is vindictive. This is not a man anyone should trust.

  • Br
      30th of Apr, 2008
    0 Votes

    I too have been taken for a ride with this company and they try to side step any kind of ethical questions regarding their situation of how and why they won't report any of your payments to the 3 major credit bureaus for verification of verifiable assets. The owner Jonathan Warren has side stepped a lot of my questions on why the deposit loan is not reported to the credit bureaus for fear that you may know how the Deposit Loan Program really works. The deposit loan program is a deposit on hold in an account through the palisades Company of whom the lender is truly yours (Try.Tc, aka. Jonathan Warren). There is supposed to be a monthly deduction from your checking or savings account using the Electronic Funds Transfer to pay of the interest of the loan, the companies name: Virgin money. This monthly deduction from your savings or checking action is supposed to be reported to all 3 major credit bureaus for verification of the deposit itself. In my particular case, this did not happen. And it seems as though, this has not happened to others as well. As you all read this message the site ( is still operating and conjolling their operations to invite others who may not have read this message. How sad this is, too see others so dis-informed about this companys' treachery and malcontent on mis-informed individuals who don't know how the true DLP program really works. The DLP amount that I have filed for under my account was for: $1500.00. I probably will not see a refund due to the fact that what Mr. Jonathan Warren did was a "Bait and switch" technique. Funny, it seems as I read through other sites such as [redacted] and the pissedoff site, Jonathan Warren started acting unprofessional at the start of the 2008 year mark. How weird is that? Please contact we or the others who may have the findings you need in black and white. I have all the documents that you need for your end decision to deal with this company. Please, you have been warned...Read the whole message that I have written for you, this may be your last chance to step away from the computer and think about other ways of improving your credit. I know it's hard to think of the fast and easy way of approach to getting better rates for a home, car or other transactions that you may need for you or your family. Stay clear of this company people, again you have been WARNED!!!

  • An
      5th of May, 2008
    0 Votes

    Jonathan Warren is good with words, but his actions are deplorable. You might want to give him a call!

    Here is Jonathan Warren's cell phone number:


    He rarely answers it. Instead, he hides behind his email like a coward. Jon: Do your parents, Mary and Claude know you rip people off for a living?

  • An
      6th of Aug, 2008
    0 Votes

    I have one of these loans which Ive had for about 8 months so I could buy a house. I knew it was to good to be true when I saw all of this, so I stopped paying it after i closed on my house a couple months ago. Now Trade Capital shows late on my credit report and they want the money back. I need the money to stay in my account until I close on a condo I am buying to rent out, except they are messing up my credit now. how do I keep the money to verify and my credit? what happened when you stopped paying? I called Jonathan warren but just said i would have ot give the money back.

  • Sa
      19th of Aug, 2008
    0 Votes

    Hmmm, sure sounds like some sour grapes and personal attacks here!

    I used trade capital twice in the past 5 years. No problems. My business parter was about to when she found all of these comments, stopping her in her tracks. I've been an investigator for 11 years, so I did my own homework:

    1. Trade Capital has only ever had one client named Ken Williams, and he tells me he didn't write the comment below, which actually doesn't seem to make any real complaint anyway.

    2. "B. Nish" appears to be Brian Nishimoto, who filed a similar complaint with the BBB, which was answered and resolved by Trade Capital. The borrower was determined to have improperly stated about his occupation on his application (enlisted military, not real estate investor), his loan was unwound, and all money was refunded. He did not repsond to the BBB.

    3. The original story above matches other complaints filed by one Morgan Schaal of Dewey, AZ and/or his associate Michael Scheel of Boca Raton, FL. They say a great deal about being ripped off, but don't say how. It appears that Mr. Schaal, however, is a former client of Trade Capital, and credit specialist of some sort who operates through an apparently unlicened, unincorporated firm called "Morgan Hill Unlimited", as well as using the email server of Consumer Publishing Group. Consumper Publishing Group sells a self-published e-book called "The Credit Secrets Bible", which at some point did recommend Trade Capital. Mr. Schaal may have charged Mr. Scheel, who claims in some complaints to be disabled and seems to take advantage of indigent services, and others, to be referred to Trade Capital. Trade Capital filed a BBB complaints in NV and AZ to stop the practice.

    4. Several complaints on this site, on riporrreport dot com and on pissedcustomer dot com appear to match emails and anonymous voicemails sent to Trade Capital at about the same time. Some of the complaint are very threatening in nature. One here appears to mention the name of Jonathan Warren's parents, and addresses him directly in an obvious intimidation attempt.

    5. Mr. Scheel appears to have sent confirmation to Trade Capital that his complaint (which I could not define) was resolved. Mr. Scheel's loan was unwound in much the same fashion as Mr. Nishimoto's. Both were small loans.

    6. Other complaints on this site and others match, and appear to be borrowers who simply need to learn to pay their bills. Trade Capital does not enter a loan for credit reporting when the first payment is late.

    7. Others here appear to have stopped paying after jumping on the bandwagon, which naturally caused them to be reported late.

    Most of the input here is from people who just don't seem to like Jonathan Warren personally. He may not be the most likeable person, but that doesn't invalidate the company and its products. C'mon guys, get a grip!

  • An
      23rd of Aug, 2008
    0 Votes

    Dude above me is blowing a gasket.

    I got a deposit loan with Trade Cap. Now BofA is doing a refi, because Trade put up the collateral for me. Cool deal. Don't know what the screaming is about!

  • Ro
      16th of Oct, 2008
    0 Votes

    I am in agreement with those who believe that this company is a ripoff, I have made numerous attempts to understand why my account was not reported to any credit bureaus, and the no one would responded to repeated emails, this has been going on for a year

  • Je
      10th of Nov, 2008
    0 Votes

    I have bought all Consumer Education books and the information has been very helpful, they use to refer their clients to this Trade Capital which tells me so at some point they thought much of this company, it also tells me something had to happen to that was unprofessional to make morgan no longer want to do business with Trade Capital. I am the Director of a Investors Group and were planning on using the tools of Trade Capital, however I am now very very skeptical, especially because I know Morgan to be a honest man, who publishes accurate information.This would be a powerful credit building tool if Trade Capital was reporting, however if they are not reporting then this is TRUELY A SCAM!

    My question to morgan is: Isn't there something that you as a consumer should be able to do about this rip off? Have you contact a attorney? Clearly their website states that they DO report, so if company is not fullfilling it's obligation you should be able to sue, correct?

  • Mo
      27th of Nov, 2008
    0 Votes

    Any intelligent investor should always do their "due diligence ." If that falls short, there's the BBB and the Nevada and Colorado Banking Commission where complaints can be filed. If you check the internet, you might find that Consumer Affairs might cover advertising issues. The best resort (if you've already had trouble) is to contact their offshore bank and complain.

    TC's loan program used to be great. I had an account and there were some problems (payment book arrived 30 days late) with their payment company, Loan Service Center. I had to get the late pay off myself because they wouldn't do anything about it, or if they did, it didn't work.

    As you'll read from other posters who happen to have a lot of detailed information (paid by tc?) about me and other clients, they won't address the reporting issue. I challenge Mr. Warren to post and take up this issue.

    As far as I know, there are two things going on:

    1. Website claims (reporting to the credit bureaus)
    2. Contract issues that disclaim reporting responsibility

    The contract is one issue. Their website (FAQ) is another.

    I wish them to prosper (which I'm sure they are) but not at the expense of clients who don't get what's advertised.

    When you sign a contract, that's what you get. That's the way corporations work, although I have a different idea about professional and ethical business practices (anyone who wants a refund gets one.)

    I have been threatened with legal action by Mr. Warren, in a very implicit and rude manner.

    Mr. Warren, let's hear from you? Yes?

  • Si
      20th of Apr, 2009
    0 Votes

    They are a very unproffessional company, Monica Jones is also a very rude person. After emailing them and getting a rude response, I knew then and there I would'nt do business with them. They should know, you're gonna stiff the wrong person one day and you'll pay for it.

  • Mo
      16th of May, 2009
    0 Votes

    Enjoying any bail-out money, Jonathan Warren, BANKER and president of Trade Capital Company?

    It appears Jonathan Warren had inaccurate information placed on my credit report. Back in 2005, I paid for their Deposit Loan Program for a $25k tradeline. Paid 3 months ($750) and closed it. That was a big waste of money.

    Magically, in 2009 (after NOT being reported to my credit report like their website ADVERTISES) it appeared as a derogatory account with 120 late-pays. The outfit who reported the derogatory did not even appear to be in business. What are the odds of that?

    You owe me, and your customers who begged for a refund (and never got one), an explanation and/or APOLOGY.

  • Lv
      30th of Jun, 2009
    0 Votes

    I have never had an issue with Jontahn Warren or his company Trade Capital. Reading the comments above indicate a smear campaign and I understand the 2 gentlemen who are complaining lied on their applications and operate on the fringe of acceptable business practices. The two people writing anonymous posts should provide their name and number.

  • Ja
      21st of Oct, 2009
    0 Votes


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