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#2
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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? |
#3
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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. |
#4
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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. |
#5
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#6
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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). |
#7
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"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] |
#8
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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] |
#9
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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] |
#10
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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] |
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