Dell Finacial Services Rip-Off

[Sakrateri]

I got three cards when I was eighteen (25 years ago) after I got the first bill from the first one,only then did I understand interest rates. I cut all three cards up and sent them back to where they came and have never had another one. I have bought new cars, houses and whatever else I needed without the credit of a card and anything else I have wanted if I wanted bad enough I learned was cheaper to get with cash once I saved up for it, and then it was paid for and no worries of someone taking it from me... Wherever you go and whatever you do cash works just as well.

[techguy84]

Angelox, your a classic victim here. You know what they do right. You get this great APR for a set amount of time "Fixed APR" they call it. Well, what they fail to put out in the open is the amount of time that APR is in effect. Once it goes, they jack it up to a un-said amount at the time of the credit contract signing. They say something like it will be "Prime + 16.99" or something similar so it throws you off guard if you are one to read the fine print. Well, "Prime" is actually like 8.25 right now and has been since July of last year so your actually looking at a 25% intrest rate right there. Now there are these other undisclosed things like credit reviewals. Well they are disclosed, but they dont tell you what may happen after they are done. Credit granters like HSBC Bank and Dell Financial will review your credit from time to time and if your not up to par with what they "want" (which could be a beacon score of 800+) they will consider you "High Risk" and add a certain percentage to your APR. Some even goes as far as denying you credit from now on, and raising your APR so you continue to pay them out the ass if you make minimum, and they will still never let you have credit again, although your always on time and always current.

I have that problem with a Capital One card right now. They took my APR from 0 to 29.99 after one bill cause of some stupid Hospital Bills. They shut my card off and said even though I had a available balance , I would not be able to use that card ever again and had to sign up and get approved for another due to "Credit Review and Denial" which means that they suck and should be shot. $500 balance on that card, its down to like $326 right now and I have payed over $1100 to them since I got the card. $50 per month adds up real fast when they find ways of dropping the late fee bomb on you from time to time cause of "Server Malfunction" since my payments auto withdraw from my checking. I am hitting them hard as you can see to square them away and I am going to take a picture of my ass and attatch it to the card and mail it to them once the account is paid off, along with a big fat "STFU and close my account Post-It note".

Screw Credit from Card Companies. I am eyeing a nice Dell Laptop and I am going to pay straight out for it when I can afford it. No one else will get my business anymore as far as credit goes, unless its a house. Cars can be bought straight out in most cases cause im not picky and a $1000 car where I live can be a great car for about 40k miles.


EDIT: Oh, and forgot to mention. You know how most Financial Serives make thier Millions right? It is proven that there prime source of income is though screwing people over. I seen a article on MSN a couple years ago thay had it all layed out. The percentage of Profit for these companies relied heavily on High APR's, Late Fees, and OTL Fees. Bull shit I know, but thats how they survive...

[Angelox]

Well, maybe I could have done worse .. SInce I started working in my son-in-law's automotive shop, among everything else , I pay all the bills, including the house bills. Needless to say, he lives in a "credit jungle" and has waay too many bills. One bill attracted my attention; it was for a "Rent to Own" scam ( you probably have one in your town too!). Anyways, I see the bill, balance is a little under 3000.00 and the regular payment is 350.00(@month). So I'm thinking, "this bill will get paid off in months!", something to look foward to. Out of curiosity, while I was direct-bank paying paying them (yeesss, even more charges for the direct pay service!), I asked when was the final payment. "About two years", he said. Now, I'm no great mathematician or accountant, but I do carry a Dollar General calculator that does my math . 24 x 350 = 8400.00!
This is sort of like Dell, only I guess Dell is worse because you would never finish paying them, and eventually, after years of slaving to pay them, you could loose your job, get sick, or just flat-assed get pissed and not pay. Then they will ruin your credit rating too.
But credit? really not that important, if they decine your credit request, you should thank them because they just did you a great favor. But people like "Rent to Own", deny no one credit- they get whatever they can off you, then when you miss a payment, the "Rent to Own" truck pulls up in your front yard and totes off whatever it was you thought was yours

[techguy84]

Yea, i know the Rent to Own scams. I havent seen the billed ones, myself, but mine are like you go to there store, find something you want, and then pay a weekly bi weekly or monthly payment. I got a laptop from them one time for a temp job. It was 29.99 a week so grab your little dollar general calculator back out and crunch that number times 80 weeks. Okay, so now you got $2400.00 total payment. The catch with it is that this laptop is about 6 months old, used and has a market price of $500. Yay you say when you paying almost 2 grand more for something. I hate R2O places because of this. It was awesome for a temporary solution for a little bit of time. 2 weeks is all that I needed the lappy for so it was definetly better than paying $500 when i didnt need it anymore.

BTW, this company was Rent a Center, if we are sharing are hated for companies that screw you over.

[Angelox]

Yea, I think they are the same ones (just had the name wrong) Rent a Center; When I went to pay them (these people would not take checks, the wanted cash) , I told them they were robbers and thieves, should be in jail.
My daughter finally did get the money for the pay-off, and got those creeps out of the way.

[Lalolyen]

Angelox, credit cards are good for 2 reasons in my opinion, and this isn't Dell, its any credit card company (Dell just happens to have their name printed across a "Citi Financial" owned card)..

1. To build your credit up (by means of buying 1 stick of chewing gum per month and paying the bill when it comes in before any intrest can be tacked on.

2. In EXTREME emergency situations where a bank cannot be used (example: You are on a trip in Mexico, its sunday at 5 PM and you missed your plane, you need to pay an extra 500 dollars or so to get on the next one and you have to be at work the next day). Even then, like you said, the next day, pull out a lone, pay the bastards off when that bill comes in.

If you want cash for gizmos, visit your local bank =), if they loan shark you, they have the Federal Reserve to deal with he he.

But I know what you were talking about and I'll explain how they did this...

Credit Card companies can imply fees 1 year later than what the fee was accessed for...

You got hit up with that clause. You maxed out the credit card on March 01 @ 1.5K. On April 02 the bill is due, and WOAH! You just got intrest added to the 1.5K that now puts the balence to 1.55K which is over your credit limit...

Yep there is a 20-60 dollar fee... each month. And your min payment is still 40ish dollars, because they aren't going to anticipate the overlimit fee in your bill.

Credit Card companies are evil... period.

[Lalolyen]

*** not to mention any other monthly and annual fees you may have had with that.