161–170 of 298 posts
Chargebacks against Google can cause your Gmail to get banned, chargebacks against Valve can cost you your entire Steam library. It's plausible legal action could reverse these behaviors, but unless you're prepared and funded to go that route, don't do chargebacks.
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> because spreading the payments out over 12 months means more investment capital This is essentially borrowing money to invest. It doesn't matter if the investment makes money or loses money the lender will expect payment. This strategy can make a lot of money, but it's also ruined many people. One key thing to watch while implementing this strategy is your debt to assets ratio. Also understand that during a market…
> Not only is it somewhat risky Sort of depends on the investments doesn't it? Sure, if you sink every penny into penny stocks or crypto you are definitely running a huge gamble. On the other hand, there are non-stock market investments that are perfectly safe. Go grab some TIPS/iBonds for the full amount of purchase. Or maybe go a little riskier and grab some bond index funds. Both of those options aren't playing th…
I would never tell anyone how to spend their money, I'm just bringing up a counter point to the conversation.
I've never understood the appeal of using a product like Affirm, especially if you already have a credit card. Credit cards already give you a 30-day grace period before purchases start accruing interest. Using Affirm to extend that to 42 days seems inconsequential. It seems like their target customer are people bad with credit, which would make them predatory.
Chase is now offering further extended payment options much like Affirm, etc. Might as well just go with your bank itself, instead of adding another 3rd party merchant into the mix.
I had a similar experience years ago with Comcast/Xfinity and found many others who did too since. (/VIN-DI-CATION!)
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Filing a complaint is nice, but you’re basically at the mercy of the AG to care enough to do something.
verses... what?
Systems exist and while they're not perfect you should at least try to use them before giving up and talking about how ineffective everything is.
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Hi! Affirms scores (evaluates the risk) of each transaction in real time, which allows then to have reasonably low bad rates. Very few lenders can do it.
Why is this an advantage? The factors in assessing the risk are the creditworthiness of the customer and the amount. Also, I find it hard to believe that the creditworthiness of a customer actually fluctuates fast enough for Affirm to be able to do some arbitrage on it.
My next steps are to file a complaint with the NY State Attorney General's office. This is a right approach. I wish more people know about this.
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Hi! Affirms scores (evaluates the risk) of each transaction in real time, which allows then to have reasonably low bad rates. Very few lenders can do it.
Until there's a credit crunch or a recession, in which case all that "real-time" risk management will be moot and losses will be massive.
Can someone explain to me, i live in a country that doesn't have credit scores, limits loans rates to something sane, why you would use a predatory payment lender that will balloon? Seems like a very high risk gamble especially if you have the money and even higher gamble if you do not have the ability to pay a loan.
I really agree though, buy now pay later seems like a huge fiscal trap. Employment is at will and you have no guarantee about what tomorrow holds so it's good to try and live within your budget whenever possible... this doesn't really go for housing and the like though since those costs are so astronomical you're going to be gambling with debt no matter how long you save first.