Dell Preferred Account
APR as of current statement 29.99%
Thankfully its paid off, i have fantastic credit.
APR as of current statement 29.99%
Thankfully its paid off, i have fantastic credit.
29.99% Wow but according to some in here that;s a "non-issue".
That used to be called "loan sharking".
Nope.
Companies can charge up to twice a state's usury rate. So in New York loan sharking would be defined as anything over 32%.
And besides they aren't being sued over "loan sharking" they are being sued for deceptive practices. New York won't win. The SEC issue on the other hand, Dell is gonna be hit hard...
Crap, I picked the worst state with a 45% limit.
That's just nuts.
Orgeon is best with 10% , no wonder "Except Oregon" is always at the bottom of the fine print.
Answer for all of America, move to Oregon.
brandonbull
Diamond Member
- May 3, 2005
- 6,365
- 1,223
- 126
No thanks on the invitation to Oregon.
If you don't like the APR%, don't buy it on credit. No one is forcing anyone to buy computers much less on credit from Dell. It's not like they are selling homes with 30% interest rates. People need shelter and not a Dell computer.
If you don't like the APR%, don't buy it on credit. No one is forcing anyone to buy computers much less on credit from Dell. It's not like they are selling homes with 30% interest rates. People need shelter and not a Dell computer.
This is happening because the so called credit Industry got greedy and corrupt using the computer for nefarious purposes.
Interesting to see how people figure ways to beat the Corporate corruption
6-4-2007 'Piggybacking' roils credit industry
Only a low credit score stood between Alipio Estruch and a mortgage to buy a $449,000 Spanish-style house in Weston, Fla., a few miles west of Fort Lauderdale.
Instead of spending several years repairing his credit rating, which he said was marred by two forgotten cell phone bills and identity theft, the 37-year-old real estate agent paid $1,800 to an Internet-based company to bump up his score almost overnight.
The result was a happy ending for Estruch, but the growing practice is sending shivers through the mortgage industry. Federal regulators are also reviewing the practice. And after being contacted by The Associated Press for this story, Fair Isaac Corp., the developer of the widely used FICO score, said it will change its credit scoring system beginning later this year in a way it contends will end this little-known but potentially high-impact mortgage loan loophole.
Instantcreditbuilders.com, or ICB, helped Estruch boost his score by arranging for him to be added as an authorized user on several credit cards of people with stellar credit who were paid to allow this coattailing. Parents also use this practice when they add their children to their credit cards to help them build solid credit.
Brian Kinney, 44, a retired Army officer in Glendale, Calif., pulls in more than $2,500 a month by lending out 19 credit card spots on two old Citibank cards with strong payment histories. Kinney, whose FICO score is above 800 on the scale of 300 to 850, quit his job working at a Farmers Insurance agency and uses the ICB income to tide him over until he starts his own insurance agency.
Lenders are worried, however, that they're taking on greater default risks by unknowingly offering lower interest rates than they otherwise would to applicants who artificially boost their credit scores.
Interesting to see how people figure ways to beat the Corporate corruption
6-4-2007 'Piggybacking' roils credit industry
Only a low credit score stood between Alipio Estruch and a mortgage to buy a $449,000 Spanish-style house in Weston, Fla., a few miles west of Fort Lauderdale.
Instead of spending several years repairing his credit rating, which he said was marred by two forgotten cell phone bills and identity theft, the 37-year-old real estate agent paid $1,800 to an Internet-based company to bump up his score almost overnight.
The result was a happy ending for Estruch, but the growing practice is sending shivers through the mortgage industry. Federal regulators are also reviewing the practice. And after being contacted by The Associated Press for this story, Fair Isaac Corp., the developer of the widely used FICO score, said it will change its credit scoring system beginning later this year in a way it contends will end this little-known but potentially high-impact mortgage loan loophole.
Instantcreditbuilders.com, or ICB, helped Estruch boost his score by arranging for him to be added as an authorized user on several credit cards of people with stellar credit who were paid to allow this coattailing. Parents also use this practice when they add their children to their credit cards to help them build solid credit.
Brian Kinney, 44, a retired Army officer in Glendale, Calif., pulls in more than $2,500 a month by lending out 19 credit card spots on two old Citibank cards with strong payment histories. Kinney, whose FICO score is above 800 on the scale of 300 to 850, quit his job working at a Farmers Insurance agency and uses the ICB income to tide him over until he starts his own insurance agency.
Lenders are worried, however, that they're taking on greater default risks by unknowingly offering lower interest rates than they otherwise would to applicants who artificially boost their credit scores.
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
Originally posted by: dmcowen674
This is happening because the so called credit Industry got greedy and corrupt using the computer for nefarious purposes.
Interesting to see how people figure ways to beat the Corporate corruption
6-4-2007 'Piggybacking' roils credit industry
Only a low credit score stood between Alipio Estruch and a mortgage to buy a $449,000 Spanish-style house in Weston, Fla., a few miles west of Fort Lauderdale.
Instead of spending several years repairing his credit rating, which he said was marred by two forgotten cell phone bills and identity theft, the 37-year-old real estate agent paid $1,800 to an Internet-based company to bump up his score almost overnight.
The result was a happy ending for Estruch, but the growing practice is sending shivers through the mortgage industry. Federal regulators are also reviewing the practice. And after being contacted by The Associated Press for this story, Fair Isaac Corp., the developer of the widely used FICO score, said it will change its credit scoring system beginning later this year in a way it contends will end this little-known but potentially high-impact mortgage loan loophole.
Instantcreditbuilders.com, or ICB, helped Estruch boost his score by arranging for him to be added as an authorized user on several credit cards of people with stellar credit who were paid to allow this coattailing. Parents also use this practice when they add their children to their credit cards to help them build solid credit.
Brian Kinney, 44, a retired Army officer in Glendale, Calif., pulls in more than $2,500 a month by lending out 19 credit card spots on two old Citibank cards with strong payment histories. Kinney, whose FICO score is above 800 on the scale of 300 to 850, quit his job working at a Farmers Insurance agency and uses the ICB income to tide him over until he starts his own insurance agency.
Lenders are worried, however, that they're taking on greater default risks by unknowingly offering lower interest rates than they otherwise would to applicants who artificially boost their credit scores.
Actually this is nothing new. I was in banking over 10 years ago and our mortgage lenders would share this info with candidates with low credit scores. Piggybacking has been the hush-hush secret of the lending industry for decades. Not sure why all of a sudden it's news *shrug*
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
This is why when I finally, in university, figured out many courses it was much cheaper to buy the book, photocopy the pages I needed, and then return it the next day, I felt not just no guilt but actually some happiness for it. Universities really stick it to students with condoning this nonsense.
Corn
Diamond Member
- Nov 12, 1999
- 6,389
- 29
- 91
Originally posted by: dmcowen674
This is happening because the so called credit Industry got greedy and corrupt using the computer for nefarious purposes.
Interesting to see how people figure ways to beat the Corporate corruption
6-4-2007 'Piggybacking' roils credit industry
Only a low credit score stood between Alipio Estruch and a mortgage to buy a $449,000 Spanish-style house in Weston, Fla., a few miles west of Fort Lauderdale.
Instead of spending several years repairing his credit rating, which he said was marred by two forgotten cell phone bills and identity theft, the 37-year-old real estate agent paid $1,800 to an Internet-based company to bump up his score almost overnight.
The result was a happy ending for Estruch, but the growing practice is sending shivers through the mortgage industry. Federal regulators are also reviewing the practice. And after being contacted by The Associated Press for this story, Fair Isaac Corp., the developer of the widely used FICO score, said it will change its credit scoring system beginning later this year in a way it contends will end this little-known but potentially high-impact mortgage loan loophole.
Instantcreditbuilders.com, or ICB, helped Estruch boost his score by arranging for him to be added as an authorized user on several credit cards of people with stellar credit who were paid to allow this coattailing. Parents also use this practice when they add their children to their credit cards to help them build solid credit.
Brian Kinney, 44, a retired Army officer in Glendale, Calif., pulls in more than $2,500 a month by lending out 19 credit card spots on two old Citibank cards with strong payment histories. Kinney, whose FICO score is above 800 on the scale of 300 to 850, quit his job working at a Farmers Insurance agency and uses the ICB income to tide him over until he starts his own insurance agency.
Lenders are worried, however, that they're taking on greater default risks by unknowingly offering lower interest rates than they otherwise would to applicants who artificially boost their credit scores.
Piggybacking has been around for ages. My employer has been on to this scam for years and our automated underwriting engine flags borrowers for additional scrutiny who have several authorized user accounts.
Why does it take a Federal slap to install scrubbers?
Let's see all the excuses thrown in by the Pro-Business at all cost pundits in here.
10-8-2007 AEP to end lawsuit, pay to cut pollution
The settlement marks one of the largest government fines in an environmental case
One of the nation's largest power generators has agreed to end a years-long federal lawsuit by paying $4.6 billion to reduce pollution that has eaten away at Northeast mountain ranges and national landmarks
The settlement requires American Electric Power, based in Columbus, Ohio, to reduce chemical emissions that cause acid rain by at least 69 percent over the next decade.
It also fines AEP an additional $15 million in civil penalties and another $60 million in cleanup and mitigation costs to help heal parkland and waterways that have been hurt by the pollution.
Eight states, a dozen environmental groups and the EPA brought the lawsuit against AEP in 1999, accusing the energy company of rebuilding coal-fired power plants without installing pollution controls as required under the Clean Air Act.
Environmentalists blame acid rain caused by coal-fired power plants for plaguing the Northeast over the last quarter-century, including damage that has eaten away at the Statue of Liberty and the Adirondacks mountain range in upstate New York. Smog and acid rain have been linked to sulfates and nitrates that are products of coal-fired plants.
AEP has more than 5 million customers in 11 states. It has agreed to clean up 46 coal-fired operations in 16 of the plants in its eastern system ? a group likely to include at least nine plants in Ohio, Indiana, Virginia and West Virginia.
The settlement requires AEP to:
_Spend $4.6 billion on so-called scrubbers and other pollution controls to reduce emissions of nitrogen oxide and sulfur dioxide, which cause acid rain and smog.
_Cut nitrogen oxide emissions by 69 percent by 2016, and reduce sulfur dioxide emissions by 79 percent by 2018.
_Pay civil fines of $15 million.
_Pay $60 million in mitigation measures. The money includes $21 million to reduce emissions from barges and trucks in the Ohio River Valley; $24 million for projects to conserve energy and produce alternative energy; and $3 million for the Chesapeake Bay, $2 million for Shenandoah National Park and $10 million to acquire ecologically sensitive lands in Appalachia.
Environmentalists said they still plan to keep an eye on how quickly AEP starts cleaning up its plants ? or whether it drags its feet in complying with the settlement.
=================================================
So how much did they raise rates to pay for this?
Let's see all the excuses thrown in by the Pro-Business at all cost pundits in here.
10-8-2007 AEP to end lawsuit, pay to cut pollution
The settlement marks one of the largest government fines in an environmental case
One of the nation's largest power generators has agreed to end a years-long federal lawsuit by paying $4.6 billion to reduce pollution that has eaten away at Northeast mountain ranges and national landmarks
The settlement requires American Electric Power, based in Columbus, Ohio, to reduce chemical emissions that cause acid rain by at least 69 percent over the next decade.
It also fines AEP an additional $15 million in civil penalties and another $60 million in cleanup and mitigation costs to help heal parkland and waterways that have been hurt by the pollution.
Eight states, a dozen environmental groups and the EPA brought the lawsuit against AEP in 1999, accusing the energy company of rebuilding coal-fired power plants without installing pollution controls as required under the Clean Air Act.
Environmentalists blame acid rain caused by coal-fired power plants for plaguing the Northeast over the last quarter-century, including damage that has eaten away at the Statue of Liberty and the Adirondacks mountain range in upstate New York. Smog and acid rain have been linked to sulfates and nitrates that are products of coal-fired plants.
AEP has more than 5 million customers in 11 states. It has agreed to clean up 46 coal-fired operations in 16 of the plants in its eastern system ? a group likely to include at least nine plants in Ohio, Indiana, Virginia and West Virginia.
The settlement requires AEP to:
_Spend $4.6 billion on so-called scrubbers and other pollution controls to reduce emissions of nitrogen oxide and sulfur dioxide, which cause acid rain and smog.
_Cut nitrogen oxide emissions by 69 percent by 2016, and reduce sulfur dioxide emissions by 79 percent by 2018.
_Pay civil fines of $15 million.
_Pay $60 million in mitigation measures. The money includes $21 million to reduce emissions from barges and trucks in the Ohio River Valley; $24 million for projects to conserve energy and produce alternative energy; and $3 million for the Chesapeake Bay, $2 million for Shenandoah National Park and $10 million to acquire ecologically sensitive lands in Appalachia.
Environmentalists said they still plan to keep an eye on how quickly AEP starts cleaning up its plants ? or whether it drags its feet in complying with the settlement.
=================================================
So how much did they raise rates to pay for this?
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
What's the thumbs up for?
That they are going to cut down on pollution or they raise rates to pay the fine?
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
For this: One of the nation's largest power generators has agreed to end a years-long federal lawsuit by paying $4.6 billion to reduce pollution that has eaten away at Northeast mountain ranges and national landmarks
Well all their competitors already spent that much money on pollution controls, so its not really so much anything happening that wasn't mandated by law for the last 10 years. Really if you think about it they made a good monetary descision to delay so long, the fine they got was TINY, and the time value of money likely saved them considerably over the last 10 years by putting off this upgrade until now. I know TVA where I worked has already spent more money then that over the last decade on such controls and will spend another 5 Billion over the next decade, and yet they get bitched out all over the place for not being clean enough. Obviously AEP is the biggest producer of pretty much every metric, but they also produce the most electricity.
Top polluters (pdf)
Top polluters (pdf)
10-25-2007 Unlimited gall to cost Verizon $1 million
New York State has given Verizon Wireless a million new reasons understand that the word ?unlimited? when used in advertising should mean what it means elsewhere in polite society.
New York Attorney General Andrew Cuomo announced yesterday that his office had beaten a $1 million ?agreement? out of Verizon Wireless that will see the carrier compensate 13,000 customers it had summarily disconnected from their ?unlimited? plans because they had taken the word to mean what it means.
From a statement issued by Cuomo?s office:
The settlement follows a nine-month investigation into the marketing of NationalAccess and BroadbandAccess plans for wireless access to the internet for laptop computer users.
Attorney General?s investigation found that Verizon Wireless prominently marketed these plans as ?Unlimited,? without disclosing that common usages such as downloading movies or playing games online were prohibited.
The company also cut off heavy internet users for exceeding an undisclosed cap of usage per month. As a result, customers misled by the company?s claims, enrolled in its Unlimited plans, only to have their accounts abruptly terminated for excessive use, leaving them without internet services and unable to obtain refunds.
?This settlement sends a message to companies large and small answering the growing consumer demand for wireless services. When consumers are promised an ?unlimited? service, they do not expect the promise to be broken by hidden limitations,? said Attorney General Andrew Cuomo. ?Consumers must be treated fairly and honestly. Delivering a product is simply not enough ? the promises must be delivered as well.?
As for Verizon?s take on the matter? Well, it?s priceless:
"We are pleased to have cooperated with the New York Attorney General and to have voluntarily reached this agreement," a company spokesman told Associated Press. "When this was brought to our attention, we understood that advertising for our NationalAccess and BroadbandAccess services could provide more clarity."
New York State has given Verizon Wireless a million new reasons understand that the word ?unlimited? when used in advertising should mean what it means elsewhere in polite society.
New York Attorney General Andrew Cuomo announced yesterday that his office had beaten a $1 million ?agreement? out of Verizon Wireless that will see the carrier compensate 13,000 customers it had summarily disconnected from their ?unlimited? plans because they had taken the word to mean what it means.
From a statement issued by Cuomo?s office:
The settlement follows a nine-month investigation into the marketing of NationalAccess and BroadbandAccess plans for wireless access to the internet for laptop computer users.
Attorney General?s investigation found that Verizon Wireless prominently marketed these plans as ?Unlimited,? without disclosing that common usages such as downloading movies or playing games online were prohibited.
The company also cut off heavy internet users for exceeding an undisclosed cap of usage per month. As a result, customers misled by the company?s claims, enrolled in its Unlimited plans, only to have their accounts abruptly terminated for excessive use, leaving them without internet services and unable to obtain refunds.
?This settlement sends a message to companies large and small answering the growing consumer demand for wireless services. When consumers are promised an ?unlimited? service, they do not expect the promise to be broken by hidden limitations,? said Attorney General Andrew Cuomo. ?Consumers must be treated fairly and honestly. Delivering a product is simply not enough ? the promises must be delivered as well.?
As for Verizon?s take on the matter? Well, it?s priceless:
"We are pleased to have cooperated with the New York Attorney General and to have voluntarily reached this agreement," a company spokesman told Associated Press. "When this was brought to our attention, we understood that advertising for our NationalAccess and BroadbandAccess services could provide more clarity."
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
Once again, if you actually KNEW anything about telecom, like you supposedly say you've worked in, you would know this isnt news. Just about EVERY major ISP has hidden limits, and has had for over 6 years. I specifically have been warned by both Cox and Qwest about my download data.
But then again, you dont really know much *shrug*
That is the point. The caps should not be "hidden".
Interesting admission, copyright stealing much?
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
I don't think it's ok for them to cut off service unless something immediate and bad is happenning (like the person is using up half the bandwidth of the network) and of course they should refund anything not spent but already paid for.
A person and a business must be a mutually beneficial relationship. If I enter a chinese restaurant for an all you can eat buffet and it turns out I have a legendary appetite with which I can eat everything they sell, I expect they should be able to give me back my money and tell me to leave, just as verizon should be able to here, but they should, since they're technically going against their word, pay some kind of a concession.
OutHouse
Lifer
- Jun 5, 2000
- 36,410
- 616
- 126
unlimited. I had a dialup ISP who said unlimited time so i kept my modem connected all the time just incase i got paged and didnt want to wait for it to connect in the middle of the night. well one day i got disconnected and could not get back on, I called them up and they said i exceeded my monthly usage. Errrr what monthly limit, im paying for unlimited services....
turned into a heated battle and they have since changed their verbage and no longer use the term "unlimited"
?Excessive Use? means staying connected continuously while not in use or using more usage hours than one connection could utilize during any given month.
"We reserve the right to disconnect you after approximately 30 minutes of inactivity or after approximately 6 hours of continual use"
turned into a heated battle and they have since changed their verbage and no longer use the term "unlimited"
?Excessive Use? means staying connected continuously while not in use or using more usage hours than one connection could utilize during any given month.
"We reserve the right to disconnect you after approximately 30 minutes of inactivity or after approximately 6 hours of continual use"
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
If you, or anyone else, read the TOS, you would know this. It is disclosed. It's not the ISP's fault if people dont read.
Again with the Apologist.
UNLIMITED in 22 pt font while somehere buried in multiple paragraphs of 6pt and you fault the people? How America hating of you. At least you're honest with your hate.
techs
Lifer
- Sep 26, 2000
- 28,559
- 4
- 0
It IS the companies fault for advertising UNLIMITED when it is not unlimited.
Exactly what part of UNLIMITED don't you understand?
I guess by your reasoning a company could advertise ARSENIC as Completely Safe. As long as the put something in the package that says its not safe?
And you would blame the consumer for dying.
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
I really dont know what the issue is here. It's the staple of advertising that the big print givith the small print taketh away. Is it deceptive? Sure. But its not like its anything new. Ask anyone in the car business and find out what percentage of people actually qualify for those zero down zero interest loans. It's like...single digit. Been that way for 20 years.
Another note worth mentioning...MOST ISP's do NOT enforce their caps. Like I've previously said I have gotten data cap exceeded email's from both Cox and Quest. Nothing was done. The reason most DONT enforce is there is some hesitantcy (is that a word?) on the ISP's part to actually enforce caps. There have been a few cases where John Doe consumer took their ISP to court for saying unlimited, and being cut off for exceeding soft data caps. Every one of them was settled with no fault found on the part of the consumer. We'll see if TOS's are modified, but for now, it really doesnt have many teeth.
Also, as others have said, if Joe Consumer is exceeding the soft cap, they should be on a business plan.
Another note worth mentioning...MOST ISP's do NOT enforce their caps. Like I've previously said I have gotten data cap exceeded email's from both Cox and Quest. Nothing was done. The reason most DONT enforce is there is some hesitantcy (is that a word?) on the ISP's part to actually enforce caps. There have been a few cases where John Doe consumer took their ISP to court for saying unlimited, and being cut off for exceeding soft data caps. Every one of them was settled with no fault found on the part of the consumer. We'll see if TOS's are modified, but for now, it really doesnt have many teeth.
Also, as others have said, if Joe Consumer is exceeding the soft cap, they should be on a business plan.
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