Beware JD Credit

[cowboydoc]

Kind of small potatoes if you own a house isn't it? To get a house loan you have to give them everything on you including the right to your first born, /forums/images/graemlins/grin.gif. Seriously though when you buy a house you give them your life story. Then they make you feel like they're doing you a favor by lending you money when they're going to make tens of thousands of dollars off of you in the next 10-30 years.

 

[bigpete]

Here's a helpful, pro-consumer not-for-profit site. Good luck /forums/images/graemlins/smile.gif

Protecting Financial Privacy in the New Millennium: The Burden is on You

 

[JClark]

Same stuff in my JD credit contract and you will find it in most credit agreements. I was on the privacy policy committee of a community bank working on compliance to that act. Financial institutions are heavily regulated with regards to privacy but read the privacy policy to know just what your are giving up. HOWEVER, I was flabergasted to see that those Bozos at JD Credit used my Social Security # for the account #!!!!! That I am not happy about and am pursuing some remedy.

 

[glennmac]

Keep yanking their chain, MDog.

The key is to keep escalating the issue in the company to an executive in the marketing division. It will do no good to rail at clerkministrators in the credit or legal departments who are not measured by revenue production. Hence, try to get to a marketing guy who can overrule the drones. You will get great satisfaction from the victory, should you succeed.

Now for the future--listen up--never but never buy anything on credit. If you don't have the hay, you don't play. No tickie, no shirtie. I give sound, time tested advice. I take pride in being a giver and not a taker.

 

[Dahammer]

<font color="blue"> I was flabergasted to see that those Bozos at JD Credit used my Social Security # for the account #!!!!! That I am not happy about and am pursuing some remedy.
</font>

Why? Not being a wise-guy, just curious /forums/images/graemlins/confused.gif

 

[F350Lawman]

I was flabergasted to see that those Bozos at JD Credit used my Social Security # for the account #!!!!! That I am not happy about and am pursuing some remedy.

I think this is bringing out another issue, that many people just weren't aware of this problem( if that's what it is). It certainly don't think it is JDs problem alone. The statement above is indicative of the fact that many people don't realize how their information is used.

I have right now in my wallet 3 cards that use my social security number as the account ##. These are huge companies so it means 10s of millions of such cards. The first is Blue Cross Blue Shield and the second is GHI health insurance and right next to that you will find my NPA (National Prescription Administration) card with the same account ##.

If I am not mistaken one of the mortgage companies I used in the past used the SS# in connection with an initial for the account #. If you look real hard I'm sure almost all of us will have accounts somewhere that also use the SS# as the account #.

The point is every time you go to the Dr's office, hospital, get a supermarket discount card, get a video card, sign up for a utility, fill out an application, apply for a loan, price auto or house insurance,etc. etc. etc you give out your SS#. Add to that the fact that it's very easy to get someones SS number anyway, I just don't think it's something worth getting too upset about.

Yes, I know all about identity theft and fraud but it's not something I stay up at night worrying about. Keep an occasional eye on all your accounts, do a credit check on yourself once a year to insure nobody opened anything under your name or #, make sure you destroy all the credit offers you get in the mail and you should be OK.

Sure it can still happen but JD credit won't be the cause I'm sure, after all the bozos in the governement have all our #'s so if you were a thief where would you got to get them? /forums/images/graemlins/smirk.gif

 

[JohnMiller3]

<font color="blue">...am pursuing some remedy... </font>

What is the remedy you require to be satisfied?

Maybe I missed something... but how were you harmed?

 

[jlemon]

</font><font color="blue" class="small">(
Now for the future--listen up--never but never buy anything on credit. If you don't have the hay, you don't play.
)</font>

Ah, but this is not necessarily sound financial advice. Take my about-to-be-purchased 3830 as an example. I could write a check and walk out of the dealership owing nothing. Am I going to do that? No way. Instead, I take Kubota's 3yr 0% financing, put down as little as possible, and keep the cash in my hands as long as feasible. This way, the money works for me, earning interest in my account as long as possible.

Of course, if it wasn't 0% financing, this might be a different story, but Kubota is being really nice this year. /forums/images/graemlins/grin.gif

 

[F350Lawman]

Now for the future--listen up--never but never buy anything on credit. If you don't have the hay, you don't play.

Sure most times it would be better to buy cash than on credit but this is not always the case.

If I have 40,000 invested is it better that I spend 40,000 on a new truck that I need and leave myself penniless or would it be smarter to put some down and finance the rest? Maybe I am making more on the money than the 0% many car maker are now offering. Do I need to buy my next house for cash as well? /forums/images/graemlins/grin.gif

I think for many of us it makes more sense to take the low interest financing they now have then to greatly reduce our savings on these high ticket items.

I am not for credit card type high interest rate spending but for some items it makes sense to finance. That is unless you have so much dough on hand you just bring suitcases to the dealer or house closings. /forums/images/graemlins/shocked.gif

 

[thcri]

I just went through all the contract forms I signed for New Holland Credit. Four pages total, man that is really hard on the CSTSS. (cant see the small [censored]). I could not find one place where they mention being allowed to use your name for
anything.

</font><font color="blueclass=small">( Now for the future--listen up--never but never buy anything on credit. If you don't have the hay, you don't play </font><font color="blueclass=small">(

The only way you can build up credit is to develope a credit rating by actually borrowing. There was an article on TV some time ago on when women loose thier spouse and find they have no credit rating and can't borrow money. We use our credit cards extensively, but we do pay them off every month. We do this for two reasons. One is because we are building a better credit rating, two is because I have a GM card and I get dollar credits towards the purchase of a new vehicle. That is free money.

not sure why I said any of the above but thought it would be good reading material.


murph


murph