Worse Installment Credit Ever
Posted by Cap in Credit Related |You think the previous credit card offer was bad? This one easily takes the cake. In fact, it’s so bad it makes the previous offer look like the holy grail of credit offers.
Finally finished/failed my finals. To celebrate, I sat on the couch, watched TV and munched on Cheetos. I eventually came across a commercial from a company called BlueHippo.
The advertisement touts no-credit check for brand new computers and laptops. If you have bad credit, no credit, you can get a brand new computer or laptop without a credit check whatsoever.
No credit checks and approvals are guaranteed, all you need is a checking account. Order now? Free color TV and free color printer! Greatest deal ever?
Of course not. Final cost of the system after all the vague payment terms? Over $2,000.
The company has been around since 2003. It appears to be pretty infamous and I’m surprised I never came across the advertisement before. Looks like I’m not watching enough TV. *tsk tsk*
I went straight to the company’s website before doing a search online. They also offer a 42″ plasma television. Same deal, no credit check, approval guaranteed. Awesome.
The online search itself is priceless. Avoid this like the plague, please.
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3 Comments to “Worse Installment Credit Ever”
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May 26th, 2006 at 6:19 pm
If people who are tempted to fall for all these cheezy offers you have been writing about really just want to throw all their money away they can send it to ME!
My vote for the sleaziest people of all though has to go to the people who own those “Check Cashing ” services. I saw posted on the wall of one here in our town that says the APR on holding your checks comes to like 459%!
May 26th, 2006 at 6:49 pm
I think the problem with many of these is just that people don’t know any better. The ads and the procedure these companies have, are heavily reliant on the fact that the consumer will be ill informed, and they also avoid disclosing their entire terms or payment plan fully.
This particular one seem borderline scam/fraud. The company site also seem to be pretty zealous about protecting their brand, so I didn’t bother using any of their image or linking to the commercial.
But yeah, pay day advance, cash advance, check cashing etc. services are just out right out crazy. It’s too bad people are either unaware that they’re throwing away money, or just don’t care enough…
May 27th, 2006 at 7:08 am
In regards to the “payday advance” services, I don’t think it is that people who use them maybe unaware or even don’t care that they are throwing away their money. I think those places actually prey on people, low income people.
I have a friend who gets about $700.00 a month Social Security disability (plus some food stamps) who is the sole support of her family of 4. She has begun writing checks at those places to be able to pay all of her bills. So, she writes a check that includes enormous interest, a few weeks later picks it up and pays to get the check back, which makes her short of money for the next month, so then she has to write another check to make up for it……………..a vicious and sad cycle.
I think to be able to get about $100.00 in cash she has to wrtie a check for close to $120.00 or more.