Risk Based Pricing

Discussion in 'Credit Talk' started by Steven Z, Sep 1, 2000.

  1. Steven Z

    Steven Z Guest

    While I personaly believe this system sucks and feel its designed not so much that more people that apply can be granted a card rather as a glorified 'bait and switch' manuever that invariably leaves qualified persons with higher higher interest rates than they deserve.

    For the sad fact is that credit grantors are not obligated in any way, shape or form to offer individuals with 'A' credit, an 'A' offer whether it be with credit cards or loans.

    Just looking closer at Wells Fargo's tiered offers

    18.9% - Proven credit
    16.9% - Preferred proven credit
    13.5% - Premium credit
    8.9% - Doris K super premium special :)
  2. Doris K.

    Doris K. Well-Known Member

    Sweetie, you've got to wheel and deal with them! Just accepting the crap they advertise on their website is passive resistance which is a license for a bank to screw you.

    I Paid 13.9 APR to begin with, and I bugged the hell out of them and charmed them to get it changed. It also helps to be able to use all the old lines about being a little old lady on a fixed income ;-)
  3. dogman

    dogman Well-Known Member

    Doris- I used that line in San Francisco - the REP said - oh - do you live in the Castro District?

  4. Doris K.

    Doris K. Well-Known Member

    Too bad I couldn't have used the line about being a poor old WIDOW woman! Unfortunately, I forgot to blast my ex-husband a few times with my shotgun before I threw his old a-s-s out. If only I had watched more movies on the Lifetime network!
  5. RichGuy

    RichGuy Guest

    The scary thing is that the self-absorbed credit creeps see their risk as constantly fluctuating. No deal with them is ever final, since tomorrow they might not feel good about it.

    Typical neurotic thinking: if you want their card, you must be a bad credit risk and therefore don't deserve their card at the offered price. Imagine what their personal relationships must be like.

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