Dell Financial Services - improper bait-and-switch practices

Greetings.

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor). DFS seems to be in the practice
of denying promotional credit to applicants because of "bad
credit" when, in fact, the applicant has perfect credit.

Dell is essentially "cherry picking" individuals who have perfect
credit and denying them promotions such as "Same As Cash Until
some date" and/or only granting higher-than-standard APR rates.
The hope, it seems, is that Dell and CIT Bank will get a handful
of low to no risk consumers who will pay off the account, with
17%+ APR interest, when their credit worthiness would ordinarily
grant him/her the benefits of the credit promotions (i.e. "Same as
Cash" or low APR).

Firm Mehri & Skalet, PLLC out of Washington, DC is spearheading the
consideration of a Class-Action Lawsuit against Dell and CIT Bank
regarding their improper credit practices. These practices include:
denying clearly well-qualified applicants credit and failing
to provide up-front information on their credit program (as required
through the "Truth In Lending" laws).

If you, or you know of someone, who may have been victim to Dell
Financial Services, I would like to know. I am working on compiling
a list of affected individuals for Mehri & Skalet. The decision to
move forward with a CAL is at a crossroads and victims need to be
identified.

Thank you.

Lon Lowen


----------------------------------------------------------------------------

For the record...

An example of someone who was denied promotional financing through
DFS, given a (high) 16.99% APR, denied any "Same as Cash" option, but was
told up-front that "same as cash" financing would be available for
the next year and denied any ability to peruse the finance rates and
terms until after completing the application...

- never missed any credit card payments,
- has always (for over 13 years) paid all revolving credit card balances
in full each month,
- has never been denied any form of credit in 13 years,
- has no debt except a minor mortgage payment (owns 75% of the home value),
- and has the following Credit Rating Scores:
. Equifax score rating of "801" on a scale from "300-850" (91%)
. TransUnion score rating of "832" on a scale from "150-934" (87%)
. Experian score rating of "750" on a scale from "330-830" (84%)

Plus, Experian rates the credit worthiness as as "Excellent". Equifax
states, "based upon your score...it is extremely unlikely your
application for credit cards [...] would be turned down". Equifax
further states, "Most lenders will consider offering you their most
attractive and most competitive rates...and rewards targeted to their
best customers."

Might this be you? And if so, would you be denied credit from Dell? Would
you then instead be offered rates and a payment plan usually only
reserved for individuals who recently emerged from personal bankruptcy?
And would this only be offered to you after you spent a lot of time
customized the computer you wanted? And would it then be very hard to
leave when Dell has already roped you in with the initial expectations of
good financing?

Reply with you Beacon score. If it is over 700, it might be interesting.
Otherwise, Dell's practice is most certainly legal and appropriate. The
lower your score, the higher the risk of default. Therefore, the higher the
interest rate.

The same applies to mortgages, for example. There is a huge market for
sub-standard mortgages (the industry's term, not mine) where the rate can be
significantly higher.

Would you have them give subsidized, low rates, to everyone?

Tom
"Lon Lowen" wrote in message
m...
Greetings.

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor). DFS seems to be in the practice
of denying promotional credit to applicants because of "bad
credit" when, in fact, the applicant has perfect credit.

Dell is essentially "cherry picking" individuals who have perfect
credit and denying them promotions such as "Same As Cash Until
some date" and/or only granting higher-than-standard APR rates.
The hope, it seems, is that Dell and CIT Bank will get a handful
of low to no risk consumers who will pay off the account, with
17%+ APR interest, when their credit worthiness would ordinarily
grant him/her the benefits of the credit promotions (i.e. "Same as
Cash" or low APR).

Firm Mehri & Skalet, PLLC out of Washington, DC is spearheading the
consideration of a Class-Action Lawsuit against Dell and CIT Bank
regarding their improper credit practices. These practices include:
denying clearly well-qualified applicants credit and failing
to provide up-front information on their credit program (as required
through the "Truth In Lending" laws).

If you, or you know of someone, who may have been victim to Dell
Financial Services, I would like to know. I am working on compiling
a list of affected individuals for Mehri & Skalet. The decision to
move forward with a CAL is at a crossroads and victims need to be
identified.

Thank you.

Lon Lowen


--------------------------------------------------------------------------
--

For the record...

An example of someone who was denied promotional financing through
DFS, given a (high) 16.99% APR, denied any "Same as Cash" option, but was
told up-front that "same as cash" financing would be available for
the next year and denied any ability to peruse the finance rates and
terms until after completing the application...

- never missed any credit card payments,
- has always (for over 13 years) paid all revolving credit card balances
in full each month,
- has never been denied any form of credit in 13 years,
- has no debt except a minor mortgage payment (owns 75% of the home
value),
- and has the following Credit Rating Scores:
. Equifax score rating of "801" on a scale from "300-850" (91%)
. TransUnion score rating of "832" on a scale from "150-934" (87%)
. Experian score rating of "750" on a scale from "330-830" (84%)

Plus, Experian rates the credit worthiness as as "Excellent". Equifax
states, "based upon your score...it is extremely unlikely your
application for credit cards [...] would be turned down". Equifax
further states, "Most lenders will consider offering you their most
attractive and most competitive rates...and rewards targeted to their
best customers."

Might this be you? And if so, would you be denied credit from Dell?
Would
you then instead be offered rates and a payment plan usually only
reserved for individuals who recently emerged from personal bankruptcy?
And would this only be offered to you after you spent a lot of time
customized the computer you wanted? And would it then be very hard to
leave when Dell has already roped you in with the initial expectations of
good financing?

All Dell needs to do is state up front what FICO score is required for the
finance promos. Keeps everything above board.

Also, Dell has this sleazy little tactic of shipping out your system
purchase before telling you what your finance terms are. Granted, they do
have a little blurb in the contract that states that you must refuse
shipment if you don't agree to the finance terms. Why not give the buyer the
refusal option BEFORE shipping? Simple, they're betting you're so anxious to
get your system won't care what crappy interest rate you get.

Maybe Dell just needs a good class action suit to clean up their act.

Yeah, good luck with that. You may not LIKE there approach, but it is far
from illegal.

Guess ya just need to read what you agree to before you make the purchase.

Tom
"Dave" wrote in message
news:fcJZb.236178$U%5.1494949@attbi_s03...
All Dell needs to do is state up front what FICO score is required for the
finance promos. Keeps everything above board.

Also, Dell has this sleazy little tactic of shipping out your system
purchase before telling you what your finance terms are. Granted, they do
have a little blurb in the contract that states that you must refuse
shipment if you don't agree to the finance terms. Why not give the buyer
the
refusal option BEFORE shipping? Simple, they're betting you're so anxious
to
get your system won't care what crappy interest rate you get.

Maybe Dell just needs a good class action suit to clean up their act.

(Lon Lowen) wrote:

Greetings.

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor). DFS seems to be in the practice
of denying promotional credit to applicants because of "bad
credit" when, in fact, the applicant has perfect credit.

Not gainsaying anything you might feel about your, or anyone's,
experience with DFS and/or CIT Bank, I would be curious to know
what your definition of a proper bait-and-switch tactic, or legal
bait-and-switch practices would be.
--
OJ III
[Email sent to Yahoo addy is burned before reading.
Lower and crunch the sig and you'll net me at comcast]

I financed my Dimension 4400 purchased 2 years ago with DFS / CIT. Got first
90 days no payments and a 3 year loan. Payments automatically come out of my
bank account each month. They've treated me fairly and have lived up to
their promises.

Only thing is I wish the interest rate was less than 12.9%, but that was the
going rate 2 years ago and I'm too cheap to pay off the balance ;-)

"Ogden Johnson III" wrote in message
...

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor).

"ilovedell" wrote:

"Ogden Johnson III" wrote:

No he didn't. He quoted these words from the original poster.

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor).

When posting on the Usenet, it helps if you keep track of who
said what when quoting things, and don't mess up the
attributions.
--
OJ III
[Email sent to Yahoo addy is burned before reading.
Lower and crunch the sig and you'll net me at comcast]

I am a victim to this as well. I have perfect credit and always have. I was
denied a decent rate about a year ago without ever receiving any
explanation. Of course Tom Scales, Dell of DFS has done nothing wrong. Your
usual stupid post in defense of Dell. BTW, I thought I saw you at the
superbowl. You were wearing a Dell Shirt and waving a Dell flag.
"Ogden Johnson III" wrote in message
...
"ilovedell" wrote:

"Ogden Johnson III" wrote:

No he didn't. He quoted these words from the original poster.

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor).

When posting on the Usenet, it helps if you keep track of who
said what when quoting things, and don't mess up the
attributions.
--
OJ III
[Email sent to Yahoo addy is burned before reading.
Lower and crunch the sig and you'll net me at comcast]

Wrong! That was me. I was trying to get the Justin Timberlake's attention. I
read somewhere that he is a big fan of Dell servers. Anyway, Janet Jackson
ruined my plan.

Rocky

"Crooker" wrote in message
...
I am a victim to this as well. I have perfect credit and always have. I
was
denied a decent rate about a year ago without ever receiving any
explanation. Of course Tom Scales, Dell of DFS has done nothing wrong.
Your
usual stupid post in defense of Dell. BTW, I thought I saw you at the
superbowl. You were wearing a Dell Shirt and waving a Dell flag.
"Ogden Johnson III" wrote in message
...
"ilovedell" wrote:

"Ogden Johnson III" wrote:

No he didn't. He quoted these words from the original poster.

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor).

When posting on the Usenet, it helps if you keep track of who
said what when quoting things, and don't mess up the
attributions.
--
OJ III
[Email sent to Yahoo addy is burned before reading.
Lower and crunch the sig and you'll net me at comcast]

Doesn't have anything to do with Dell -- the OP was making legal claims that
were incorrect.

Dell does not have an obligation to provide anyone with a great rate.

What was your beacon score? I notice the OP didn't let us know his. I'm
guessing it wasn't QUITE as good as he implied. Is yours over 700?

Tom
"Crooker" wrote in message
...
I am a victim to this as well. I have perfect credit and always have. I
was
denied a decent rate about a year ago without ever receiving any
explanation. Of course Tom Scales, Dell of DFS has done nothing wrong.
Your
usual stupid post in defense of Dell. BTW, I thought I saw you at the
superbowl. You were wearing a Dell Shirt and waving a Dell flag.
"Ogden Johnson III" wrote in message
...
"ilovedell" wrote:

"Ogden Johnson III" wrote:

No he didn't. He quoted these words from the original poster.

I am attempting to track down people who may have been victim to
illegal bait-and-switch practices from Dell Financial Services
and CIT Bank (Dell's creditor).

When posting on the Usenet, it helps if you keep track of who
said what when quoting things, and don't mess up the
attributions.
--
OJ III
[Email sent to Yahoo addy is burned before reading.
Lower and crunch the sig and you'll net me at comcast]