Reviews

This profile includes reviews for Fairstone's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Fairstone

  Toronto, ON M5H 1J8

  
• 

  Fairstone Financial Inc.

  141 12101 72 Ave Surrey, BC V3W 2M1

  
• 

  Fairstone Financial Inc.

  5540 Cambie St Vancouver, BC V5Z 3A2

  
• 

  Fairstone Financial Inc.

  A 32915 South Fraser Way Abbotsford, BC V2S 2A6

  
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  Fairstone Financial Inc.

  206A Main St Whitehorse, YT Y1A 2A9

  

Review Details

• Review fromCharlotte M

  Date: 22/10/2022

  1 star

  Charlotte M

  Date: 22/10/2022

  I paid my furniture off in full and charged $ ****** interest even though I was told if you pay off the furniture in full on June 12 you wont be charged interest.I cleared my account on June 11/22.Then I got a call from Fairstone informing me that I owe $****** in interest because the payment was paid on the weekend it takes 3 days to process because they are not open on the weekends.I could not get through to costumer service , when I finally got through I was told to call collections.They have also ruined my credit rating. This company is dishonest and fraudulent. C
  

  Fairstone

  Date: 02/12/2022

  ********** The situation you outline is very realistic. The charges you received are due to the payment delay resulting from the timing of your final payment. It is always important to know the processing times of payments as what you've experienced can lead to delays and incurred penalties. For additional support with this concern, our Collections team will be the best resource for you.

• Review fromRiley P

  Date: 17/10/2022

  1 star

  Riley P

  Date: 17/10/2022

  I think it is important for everyone to know what they're getting into before they jump in. If there are other options aside from Fairstone, take that route instead. I am a young man with excellent credit who saw the utility of using Fairstone at Best Buy under their 0% interest plans to purchase a **. The ** was $1,850.00. Although I have the money to buy it, I would sooner build credit for free which makes more sense to me. Now, 4 months down the road, here we are. Every time I make a payment they, they call me 1 or 2 days later explaining that I have a past due amount plus the interest accrued for that missed payment. I tell them I have made a payment (2x higher than my minimum at that), to which they "add a note" on my account. I personally don't appreciate my account showing all these "Past Due" notes when I am paying substantially more than required. After that, I have to call them. I sit on hold repeatedly as they continuously hang up on me for hours. Finally reaching someone, now I have to babysit and make certain they managed to figure out that I have in fact made a payment, not that I get stuck with pesky late fees for being a good customer. As a fellow consumer, I would like everyone to know that there is no reason it should be this difficult for me (the customer) to pay them. My account is good, my credit is excellent, and I pay 2 times per month. Imagine the difficulty you will face if you are only making minimums. They could easily bully you into paying late fees and take you to collections. Dont do it. Good day
  

  Fairstone

  Date: 02/12/2022

  *****, first and foremost we want to apologize for this experience. What you describe in no way meets our standards of service and care and for that we are very sorry.There appear to be some unique faults in this situation as during the interest deferral period, there should not be notifications of 'late' payments as any payment made before the deferral period expires is not considered late. Only after that period expires would penalties apply.If you are still experiencing these issues, please connect with our team for support. To avoid call centre wait times, live agents are available during business hours through web chat at Fairstone.ca.

• Review fromAmanda D

  Date: 11/10/2022

  1 star

  Amanda D

  Date: 11/10/2022

  We had a vehicle loan through fairstone and we got into an accident and as honest people we paid off that loan. We made a claim through our insurance company and even though they got the check on a Monday they still took out the vehicle payment on the following Friday. Now our loan was a little over ****** dollars but we had sent the whole insurance check to fairstone. It was cashed and said we would get the remaining balance working 30 BUSINESS DAYS it has now been 64 business days 93 regular days. So it is ok for fairstone to not do what theyre supposed to but if we miss a payment they ruin our credit or take our car. When calling customer service it takes an hour to two hours to get through (due to work at home csr) and because nobody can get through to anyone we have to call multiple times now its a business day and my husband called customer service to see whats going on and they said its not their problem or their area to speak on this matter and to call back and press option 2 so I called back pressing option 1 2 and 3 but low and behold it says theyre not open today yet somehow customer service is. I am ready to say s**** it all and s**** my credit id rather deal with a bad credit rating that deal with actual scam artists who should be ashamed of themselves. So heres to me saying u want my payment yall will get it in 30 business days! If its not ok for me to do it it definitely shouldnt be ok for a business to do it. Hopefully one day fairstone can get their business in check at one time I did trust them after they stole from me I dont want anything to do with them
  

  Fairstone

  Date: 08/12/2022

  Hello ******. If a payment was withdrawn in error, it will absolutely be corrected as soon as possible. It is never our intent to cause these issues but occasionally automated withdrawals can be untimely when unexpected payments are made above and beyond the outlined schedule. We apologize for the confusion and inconvenience we understand this can cause, and has in your case.

• Review fromDaryl M

  Date: 05/10/2022

  1 star

  Daryl M

  Date: 05/10/2022

  Fairstone is a crooked and unfair company to deal with. I purchased windows with the account on a 6 months no payment plan. When paying the bill in full 1 week before the due date on the statement I was still charged back interest of $483. When contacting the company for resolution I was advised that the plan expiration was 5 days before my payment and there was nothing they could do - even though account was paid in full. I asked to speak to a supervisor to discuss and resolve the issue and was refused multiple times - and told there was nothing that could be done and interest will be charged. Bills should reflect actual due dates and not in fine print on page 2 of statements. I will never deal with this crooked company again and advise all to steer clear. It is apparent based on other comments as well that this is a crooked and under-handedly run business.
  

  Fairstone

  Date: 08/12/2022

  *****, nothing about our services is 'crooked.' We operate under provincial and federal regulations and we do so compliantly at all times. The details of any loan of financing agreement are outlined extensively in the loan agreement document you receive and sign. Being familiar with these details is paramount to every borrower's success. This document would outline the payment schedule and deadlines. Unfortunately if you fail to meet the requirements of your contract you may be subject to back-billed interest as you note.

• Review fromBryan F

  Date: 20/09/2022

  1 star

  Bryan F

  Date: 20/09/2022

  I called them up and talked to a fellow named ****, who seemed very friendly. He told me that he could do better then a 10K loan, since I own my own home and he was given the information about my outstanding credit card balance. He said, getting me a 20K loan would help pay that off. He send me forms to sign through email electronically and then I came in to pick up the loan agreement and signed the final paper in person. After paying 15 payments of $848 and giving them over 12K, I decided to go in to find out my remaining balance. I was told I had a 27K loan, which I disputed and said it was for 20K. They then told me I had signed for insurance and my remaining balance was *****. They told me they couldn't help me and made me feel stupid for not reading all of my online loan agreement. I just e-signed the boxes I thought I had to e-sign for the loan. I said this whole thing was sketchy and asked them if they also took advantage of the elderly. Apparently, you don't need to make your customers aware of 7K insurance tacked onto a loan to **** up all your money.
  

  Fairstone

  Date: 27/10/2022

  Hello *****. On page one of your loan agreement all of these key figures are outlined in a table that includes: Loan amount, Other products purchased (insurance), Total amount financed, Annual interest rate, Term of the loan, Total of payments including interest, and Cost of credit. On page two of the loan agreement is where you sign and date for insurance. By completing this section you opt in to the coverage outlined in that section and it would be applied to your loan as your agreement indicates.If you don't want the coverage or find it unsatisfactory, you can always cancel it. Learn more about insurance on our website: https://www.fairstone.ca/en/getting-started/loan-insurance-solutions

• Review fromJawed I

  Date: 16/09/2022

  1 star

  Jawed I

  Date: 16/09/2022

  Fairstone offers credit through Bestbuy to buy appliances on fixed monthly instalments. what they dont articulate openly that it will impact your credit score. The credit is a revolving credit and if you pay monthly it could take years before you pay off 70% of your credit balance. till then when the report to credit company it will show high balance on your FS credit card which impact your credit score everytime thee report (according to equifax)) try to call and reason with fairstone but they guy who received a call was very argumentative and rude and make me feel like it is customers fault. will never deal or recommend ******** to any of my froends.
  

  Fairstone

  Date: 27/10/2022

  Hello Jawed. We want to apologize for your experience on the phone. It does not represent our commitment to customer service and the standard we hold ourselves to. As with most credit products, reporting is done monthly to the credit bureaus. This is standard practice in the industry on credit cards, personal loans, even on monthly expenses like internet and phone services.

• Review fromDrew H

  Date: 15/09/2022

  1 star

  Drew H

  Date: 15/09/2022

  SCAM ARTISTS, received a call yesterday 2 months after getting a rotating loan to increase my loan amount. I could use the money so why not what can you do for me. Explained I just got the account 2 months ago, how would i qualify for an increase? Have you looked at my account and had opened your loan qualifications and or have run some numbers to qualify myself for more? Is this a cold call? Then he goes on to say they're doing some low end promotion to be entered to win $500 which is just white smoke as an excuse to call you. He goes on to say I will qualify but needs to check my credit to determine the amount. Low and behold my credit hasn't changed in 2 months..... so of course I don't qualify for an increase. I asked him 5 times if he ran my credit or if he finally looked at my account to the increase and was TOLD 5 TIMES HE DIDN"T RUN IT. Needless to say I was notified of a credit check damaging my credit next day. This is a money grab, they are only calling in the off chance the new rotating loan they received from ******* increased ppl's credit after so they can get more out of their client base. Meanwhile after promising increases that don't happen more time then not because it's only 60 days has damased a wide spread client bases credit. I get it business but WOW how many other idiots like myself had their credit damaged over this cold call BS. Called back to today, after 2 calls today he will try to call equifax to rectify but "no promises" LOL. Just don't answer the phone if they call.
  

  Fairstone

  Date: 26/10/2022

  Hello ****. In any situation that requires a hard credit check (the kind that can impact your credit score), your approval is required. In any other situation, a soft credit check is run which does not affect your credit score (it also does not ***** us access to all of the information required to issue an unconditional pre-approval). Learn more about that here:If you believe there has been an error on your credit report, we encourage you to dispute it so it can be corrected. We would never aim to affect anyone's credit report negatively. More information on disputing those errors is available here: https://www.fairstone.ca/en/learn/finance-101/how-to-check-your-credit-report-and-dispute-errors If there is anything we can still assist with, please give us a call either at the branch directly, or at ************.

• Review fromStephen R

  Date: 06/09/2022

  1 star

  Stephen R

  Date: 06/09/2022

  Worst customer service. Trying to charge interest after a loan has been paid in full. Transfering calls to every possible departments insted of fixing this issue. Fairstone employees laughing on the phone saying they don't know who has the authority to take care of the problem. I even stopped in person in a commercial branch and their own employee called the Fairstone customer service and couldn't get a resolution. So bad for the brand and for the customers. They are very good at not knowing what to do and having you to wait on hold. I have called over 10 times with a different answer everytime I talk to someone. I have asked to keep the notes on my account, but it's probably asking them too much as everytime I call I have to explain again the source of the problem. It's so frustrating that I'm thinking of starting a lawsuit if they keep having me to run in circles without coming to a solution.
  

  Fairstone

  Date: 26/10/2022

  *******, we want to offer our apologies for your experience and for our failure to resolve your concerns. We prioritize customer service and we appreciate you sharing your feedback so we can continue to evolve and improve to best serve you. If there is anything we can do to assist you please don't hesitate to call us at ************ or message us via web chat at Fairstone.ca to speak with live agents during business hours. We are always here to help you.

• Review fromKoko W

  Date: 30/08/2022

  1 star

  Koko W

  Date: 30/08/2022

  Fairstone has Terrible customer service .I never want to deal with them again.. rude and condescending employees
  

  Fairstone

  Date: 26/10/2022

  Hello ****. We apologize for our failure to provide the premiere customer service we aim to provide. We truly appreciate you sharing this feedback with us and we have shared it with the management team for review. If we can do anything else to support you, please don't hesitate to give us a call at ************ or to chat with us at Fairstone.ca.

• Review frommaria s

  Date: 25/08/2022

  1 star

  maria s

  Date: 25/08/2022

  I already have a loan with them which i am paying every 2 weeks. When I asked for another smaller loan, they kept on asking for documents instead of saying yes or no to the loan. the receptionist seemed to screen me and not answer my calls and today i made a phone call to learn what had happened and they hung up my call. ********, the person who was supposed to be taking care of my application, completely ignored me and has not left even a message on my phone or send me an email.
  

  Fairstone

  Date: 26/10/2022

  Hello *****. First we want to thank you for raising your concerns here and sharing your feedback with us. We have referred your review to the appropriate management teams for review.When it comes to additional loan applications, documentation may be required as you experienced. This is to ensure you continue to meet our qualification standards. It is not our practice, however, to screen calls and leave inquiries unaddressed and we apologize for that experience. It doesn't meet our standards to of care. If we can provide any additional assistance please give us a call at ************.