WCAP Financial Services -- can I trust them?

46 Replies

I just finished round one of their services and it is not what they promised.  While the service is legit and there is merit to what they do... there is a GIANT disconnnect between what the sales people know and what you get. DO NOT BELIEVE YOUR SALES GUY FOR A SECOND. 


perhaps you you can help me? 

I just finished round round two and I was pretty much fooled into thinking I would be able to used the services one way. However I cannot.  For that reason, I signed their contract. I requested to credit what I paid them so I can apply it to a different service because I’m very upset with them. The moment any sort of unhappiness was mentioned, my sales guy disappeared and won’t return my calls. 

Originally posted by Account Closed:

@Nate Smoyer I do not work for WCAP. However, I have had the opportunity to visit their office in Las Vegas and know the one of the owners. A friend of mine in California used to work for them. So, I have a bit of an inside connection.

For you specific questions here is what I know:

1. Everything depends on your specific credit situation. If you do not have the required credit for the $50k program they cannot provide the guarantee. They do not directly provide the funding. The funding is provided through banks and credit card companies that they guide you through the process.

2. In terms of fees it is $3,500 for the initial program and $3,000 for the follow on fee if you want help after the initial program to get more credit or to use the credit cards for more than just charges (e.g. balance transfers).

3. It is almost exclusively credit cards.

Sorry to hear that it sounds like you may have not spoken with the best sales person. I am happy to talk through your specific situation and answer anything in more detail to the best of my ability. I should have accepted your connection request.

this thread is helpful. i saw the ad for WCAP on a BiggerPocket email and am glad that i checked this out first. good to know that their credit source is credit cards.  i saw the promise of 50K interest-free and was piqued.

I previously posted and vented on how much of a scam this service is on several threads and under their other trading names. But I continued with the program after speaking to one of their representatives. Great success actually! I just don't have the time to apply for so many credit cards, and to know which companies approve more easily and which don't, which give the 0% fee periods. This was valuable knowledge they brought to the table. This is not a scam, it is just not a service that will work for everyone.

...and this is why I love BP. Tried and tested results with pure honest for feedback. Thanks everyone for your responses. I saw an ad and wanted to know more. I'm always reviewing creative financing methods but I'll pass. 

Talked to Seed Capital/WCAP again and they sorted it out. I was able to get more capital, and now the net interest rate is better. I changed my mind, and ended up going with their services, and was finally able to get the credit I needed. Slice of humble pie, my math wasn't on the level.

My credit score had risen and so I qualified for a much better rate. 

Dawn P




Don't Do This People!!!! WCAP can definitely help you get money, but they leave you with a hot credit card mess that may devastate you, and then refuse to return your calls.... Just don't do it!!!!! They affiliate with business scammers!!!!!! They worked closely with scamming businesses such as Sellers Playbook, as a strong affiliate, and this business was then closed by the Federal Trade Commission!!!! I am facing financial ruin because of this scam these two businesses created together. SCAM, SCAM SCAM, SCAM.....RUN LIKE CRAZY FROM WCAP AND ANYTHING LIKE IT PLEASE!!!

I will say @Sean Shapoori , they have been opened for over 5 years, and have only 5 complaints, one of which was resolved. It's easy to post up a bad review and say "Don't trust them!", but the general picture of their BBB profile paints them as a healthy, helpful company. 

"At first, the idea of a company getting me 0% interest loans was SUPER sketch. But I'm really glad I made the decision to move forward because now, 50k later in 0% interest loans, I'm finally getting into the real estate investing game. Thanks WCAP for everything."

"Very professional, great personnel, fast email responses to questions. A good service to use to get seed funding and credit cards. I highly recommend WCAP to meet your financial or investment goals. They are very thorough, as well as, a pleasure to work with."

"My experience with WCAP Financial has been stress free and pleasant. Addison, who I have been in communication with on a regular basis has been just wonderful! She has been patient with me through this process being that I was not very educated on how things worked. She returns my emails or phone calls in a timely manner and explains things clearly to me so that I understand what I am doing. I have been pleased from the start in my dealings with WCAP and I would highly recommend this company to anybody I know!"

The concept is interesting and I've actually talked with them on the phones a couple months ago. It could be a great avenue if you know that you'll be able to pay it off or refinance before the 0% goes away and turns into a huge 18-24% rate. 

One thing I had to dig and pry from WCAP was about the 1% fee on what you're actively using from the available monies. They did not mention that over the phone, but I had read about it... so when I asked the guy about it.. he seemed confused as to why I knew the in between the lines info. Still TBD about it.. could be good or could be really ugly.

@Nate Smoyer below is a quote from a post that I removed due to violation of our rules. 

WCAP is a joint venture with Seed Capital.

Seed capital has been spamming this site for a long time. They are not a legitimate company.

@AmberCastro for questions like these I recommend checking out Nerdwallet. Personally, I use American Express SimplyCash Plus Business Credit Card, which offers $0 annual fees. Nerdwallet has great commercials for questions and inquires like this as well. 

@Amber Castro, I am not a fan of credit cards personally. I have had so many unpleasant experiences with them that I just tend to keep to cheques, bank transfers and cash purchases at this point. 

But I do have a card, and for that, I go AMEX. Best of luck finding a card that works for you, but things to look for would be low to 0 annual fees, and a competitive rewards program. 

I love Amex, and have tried several other cards and services to compare. I believe they are the best out there. Check out Nerdwallet, they have some threads on there that compare the cards very thoroughly!

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