Greed and stupidity.
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From: Longmont, CO
Greed and stupidity.
Wow. Since when is an instant approval, $850 to $4000 credit card considered "free money"?
http://www.wisn.com/news/14697601/detail.html
I have to wonder how this really played out. How did the word get passed that everybody was getting approved? Was there a line at the service counter for people wanting credit cards? Was it really a computer glitch? That is, perhaps KMart programmed things deliberately so that everybody would get at least $850 to help spur sales?
I think the smartest person involved in this incident is the one who sold applications in the parking lot for twenty bucks.
http://www.wisn.com/news/14697601/detail.html
I have to wonder how this really played out. How did the word get passed that everybody was getting approved? Was there a line at the service counter for people wanting credit cards? Was it really a computer glitch? That is, perhaps KMart programmed things deliberately so that everybody would get at least $850 to help spur sales?
I think the smartest person involved in this incident is the one who sold applications in the parking lot for twenty bucks.
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"It was a nice brawl. It came from inside to outside. If you go up there, you'll see hair, earrings, all pulled out on the ground," Wilson said.
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so they get $10 in free money....not worth "brawling" over. they make it sound like the people were trying to steal others credit cards....thinking they were $4000 gift cards i guess? what a bunch of morons!
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From: Queen City, NC
Originally Posted by DaAntiRicer,Nov 27 2007, 01:00 PM
I love the "free money" everybody was going for No wonder America is facing a credit crisis and sub prime woes 
No wonder America is facing a credit crisis and sub prime woes 
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From: SJC
Originally Posted by Saki GT,Nov 27 2007, 10:13 AM
Its free money if you have no credit and don't plan on paying the company back!
I'll have to check if Restoration Hardware has the same promotion if/when they get fully bought out.
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From: Ventura, California, USA
Originally Posted by Saki GT,Nov 27 2007, 10:13 AM
Its free money if you have no credit and don't plan on paying the company back!
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From: Between Hell/Ann Arbor
Originally Posted by DaAntiRicer,Nov 27 2007, 12:00 PM
I love the "free money" everybody was going for No wonder America is facing a credit crisis and sub prime woes
No wonder America is facing a credit crisis and sub prime woes Well we do have CC companies still issuing cards to dumbasses too. The lender's have created their own morass and now expect the rest of us to get them out of it.
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Originally Posted by THEOLDMAN,Nov 27 2007, 04:08 PM
Sub-prime loans...tell me how even in the sub-prime loan venue someone making less than $4000 a month qualifies to buy a 750,000 home without any paydown or equity??? The payment alone at 6.25% would be 4617.88 a month and that's without coming up with taxes and insurance...but I guess it can (did) happen in California...
Well we do have CC companies still issuing cards to dumbasses too. The lender's have created their own morass and now expect the rest of us to get them out of it.
Well we do have CC companies still issuing cards to dumbasses too. The lender's have created their own morass and now expect the rest of us to get them out of it.
The financial leverage committed by most of the big banks on the tranches of poorly regulated and evaluated mortgages would blow anything you can logically think of out of the water and in to outer space. However, as long as the fed has your back and arabs are willing to clean up your mess, why not?