Is Elan Financial Services legit?

Any finance-related decision has a lot of impact on our lives. That’s why it is crucial to find out everything about a financial service before deciding whether it suits you or not.

But if you search online about Elan, you will read mixed reviews about the company which can be confusing.

So, is Elan financial services legit or a scam?

Well, Elan Financial Services is definitely legit. It has already partnered up with over 1200 financial institutions, which indicates that it is trustworthy.

Furthermore, Elan offers credit card programs, mortgage solutions, financial expertise, and much more to make your life easy.

But there are a few problems with Elan financial services that you should also know. So, keep reading!

Key Takeaways

  • Elan has partnered up with 1200+ reputable financial institutions.
  • The company offers credit cards for both consumers and businesses.
  • You can sign up in two ways:
OnlineApp
Go to the “Enroll” page.Fill in the details.Click “Submit.”Download the App. Android users can do it on Google Play Store while iPhone users can download the app from App Store.Tap on Sign up.Fill in the details.
  • You can get rewarded with cashback, gift cards, travel assistance, etc., if you go for Elan financial services.
  • Some people have complained about slow customer service and high annual fees.

Let’s delve into why Elan is considered reliable.

Why Is Elan Financial Services Legit?

There are lots of reasons which make Elan Financial Services a credible company. Let’s have a look at them.

Everything is Clear and Open

Fraud companies keep everything blurry because they have to hide lots of details. But Elan has stated all the proceedings on its official website, including the top leadership.

John Ownes is the president of Elan Credit Cards, who has more than 30 years of experience in this industry. The rest of the team members and staff are also highly qualified, which is why the company has achieved a lot.

According to the Elan brochure, the company has done the following:

  • Partnered with 250 credit unions.
  • More than 30 billion Annual credit card spending.
  • 9 Billion plus credit card receivables.

Elan now offers:

  • Credit Card Programs
  • Mortgage Solutions
  • All-in-one merchant processing platform (for business customers)

Credit Card Programs

If you like to search about different credit card programs, you must have heard about Elan Turnkey and its benefits. Well, it can assist you a lot by:

  • Reducing costs
  • Lowering the risks
  • Offering growth solutions
  • Letting you enjoy enterprise benefits.

Mortgage Solutions

Elan lets you have a home by offering you easy loans. You can analyze different loan elan loan programs and select the one you think is the best for you.

All-in-One Merchant Processing Platform

Business customers choose “All-in-One Merchant and POS solutions” to scale up their revenue. It offers:

  • Inventory management.
  • Reservations.
  • Text alerts, etc.

50+ Years in Business

A fraud company does not stay in business for long. It either shuts down or changes the name.

But Elan Financial Services have been assisting their partners since the 1960s, which speaks volume about its credibility and legitimacy.

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Easy to Sign Up

Signing up for Elan financial services is really simple.

  • Go to the “Enroll” page.
  • Fill in the details. Type your name, organization’s name, phone, email, etc.
  • Click on “Submit.”

You can also use Elan credit card apps.

  • Download the app. If you have Android, you can go to the Google Play store. For iPhone, visit Apple Store.
  • Open the app.
  • Choose to sign up.
  • Fill up the details.

Elan will get back to you with more information.

Deal with Reputable Organizations

Another thing that makes Elan financial services legit is that reputable companies are involved with it. As discussed above, Elan deals with reputable financial institutions. Some of the famous names are:

  • Fidelity.
  • Envision Bank
  • Country Club Bank
  • Busey Bank
  • Highland Bank
  • Banner Federal Credit Union
  • MIT Federal Credit Union
  • NRL Federal Credit Union

Gives You Lots of Choices

Elan has all the cards that a consumer and businesses might need. Let’s start with consumer cards.

Elan financial services offer the following cards for you:

  • Visa Travel Rewards + card.
  • Visa Reserve Rewards + card
  • Visa Max Cash Secured
  • Visa College Real Rewards
  • Secured Visa Card

If you prefer Business cards, then Elan has given you six choices here as well:

  • Visa Business Cash Preferred
  • Visa Business Real Rewards
  • Visa Business Card
  • Smart Business Rewards Visa
  • Visa Business Company Card
  • Visa Community Card

Payment Freedom

Elan offers all the payment freedom a corporate needs. It can help you choose alternative cost-effective payment solutions which boost the business.

Elan offers “One Card” for this purpose. With it, businesses can spend money whenever they want to. The employees can also use it for transactions.

But there’s much more.

Here’s why Elan One Card is the first choice of many businesses nowadays:

  • It can boost employees’ productivity because they can proceed with the payment with one card only.
  • The administrative cost shrinks because lots of paperwork gets reduced.
  • It makes auditing easy.
  • It also enhances spending visibility for you. You can get better stats on where the money was spent and what’s the cash flow situation.

Furthermore, you can also automate the payment processes to simplify things.

Provides Useful Insights

You can learn a lot about finance with Elan. You can contact an agent to inquire about different things. But most people usually go to the resource library on the official website.

There, you can study the following:

  • Cash management
  • Risk management
  • Supplier management

Elan has uploaded papers, reports, videos, and a lot of other material to educate potential and current customers/partners.

Plus, you can also stay updated on the latest financial developments by visiting the news and community page on Elan’s website. Thankfully, the website is user-friendly, so you can find all the things easily.

Offers Rewards

Elan Financial Services offers both consumer and business rewards cards. With them, you can enjoy:

  • Cashback
  • Gift cards
  • Travel assistance, and much more.
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Loves to Do Charity

Elan has launched a Charitable program in which the focus is on local charities. In addition to it, more than 150 hours of volunteer work have also been done by the company.

Testimonials Are There

Elan partners have also recorded testimonials in which they have stated their experiences. There is also a four-minute video of Berkshire Bank, which is full of praise for the company’s financial services.

Easy to Get in Touch

Elan is always available. You can simply open the “contact us” page or call 800-558-3424 if you have any queries. The company also offers card member support to resolve problems.

For technical support, call 877-334-0460.

The best part? You can contact Elan at any time you want.

So, due to these reasons, it’s safe to say that you can trust Elan financial services.

Problems With Elan Financial Services

Elan financial services is not free from issues.

High Annual Fee

Some people have complained that Elan cards’ annual fees are higher than others. The Elan’s Consume card report states that $99 is cut each year if you own a Travel Rewards card. But if you have a Reserve Rewards card, the fee rises to $390 (which is a lot).

In addition, a few people have stated that the other fees are also unjustifiably more. Well, Elan does charge 3 percent extra on foreign transactions.

But the good part is that fees are not hidden. Everything is mentioned on the official website, or you can find out by contacting the customer care agent.

Customer Service Is Slow

Elan’s customer care service has been called slow by many people on the internet. People have said that they have to wait for days to get a call back from the company.

Furthermore, some have also stated that the representatives take too long to answer the query.

Poor Ratings on Some Platforms

Elan is no doubt a legit service. However, it has received mixed reactions on review platforms. In fact, people search for the legitimacy of Elan financial services due to these reviews and ratings.

People have complaints about fees, customer service, and many other things. Some have said that the cards show errors in between the transactions.

Also, BBB has given it A minus ratings.

Still, Elan is trustworthy. You can say that it needs improvement in different fields to become the best in the industry.

Top 10 competitors of Elan Financial Services

Elan Financial Services faces competition from several major players in the financial services industry. Here’s a review of each of these competitors:

  1. Capital One: Capital One is known for its wide range of credit card offerings and innovative use of technology. They provide various credit card options tailored to different consumer needs, along with user-friendly mobile and online banking platforms. Capital One’s rewards programs and customer service have also received positive reviews.
  2. Discover Financial Services: Discover offers credit cards, personal loans, and banking services. They are particularly recognized for their cashback rewards program, which is highly regarded by cardholders. Discover provides excellent customer service, with a U.S.-based call center available 24/7, and their technology platforms are user-friendly.
  3. American Express: American Express (Amex) is renowned for its premium credit cards and exceptional customer service. Amex cards offer generous rewards programs, exclusive benefits, and access to airport lounges and luxury perks. Their customer service is highly regarded, particularly for their premium cardholders, and they have a global acceptance network.
  4. Chase: Chase is a prominent player in the financial services industry, offering a range of credit cards, banking services, and investment products. They provide various credit card options, including cashback, travel rewards, and premium cards. Chase’s robust online and mobile banking platforms are well-regarded, and they have an extensive network of branches and ATMs.
  5. Citibank: Citibank is a global financial institution offering credit cards, banking services, and wealth management solutions. They provide a variety of credit cards with rewards programs tailored to different spending categories. Citibank’s online and mobile banking platforms offer convenient features, and they have a broad network of ATMs and branches.
  6. Wells Fargo: Wells Fargo is a major financial institution providing banking, mortgage, and credit card services. They offer a range of credit cards with various rewards programs and benefits. Wells Fargo’s online and mobile banking platforms are user-friendly, and they have a widespread network of ATMs and branches.
  7. US Bank: US Bank is a well-established financial institution offering credit cards, banking services, and investment solutions. They provide a variety of credit card options, including rewards programs and specialized cards. US Bank’s digital banking platforms are intuitive, and they have a strong network of branches and ATMs.
  8. Bank of America: Bank of America is a leading financial institution offering credit cards, banking services, and investment solutions. They offer a range of credit card options with different rewards programs and benefits. Bank of America’s online and mobile banking platforms are highly regarded, and they have an extensive network of branches and ATMs.
  9. Synchrony Financial: Synchrony Financial is a provider of credit cards and financing solutions. They specialize in private label credit cards and partner with various retailers to offer card products. Synchrony Financial’s customer service and technology platforms may vary depending on the partnering retailer.
  10. PNC Bank: PNC Bank is a financial institution offering credit cards, banking services, and wealth management solutions. They provide a range of credit card options with rewards programs tailored to different spending categories. PNC Bank’s digital banking platforms are user-friendly, and they have a widespread network of branches and ATMs.
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Final Words

All-inclusive, Elan Financial Services is a legit company that you can trust. It has been offering credit card programs, mortgage solutions, and a merchant processing platform since the 1960s. Furthermore, the company has listed all the details about itself and the services it offers on the official website.

However, the reviews are not all positive on the internet. People have complained about slow customer service and high annual fees. Plus, the BBB rating is not exciting, either.

But as far as legitimacy is concerned, Elan is definitely credible. So, whether you want to try their services depends on you only.

That’s all about Elan financial services!