Expiration Date ?
Q: Instant Credit problem ? With my income and credit I cannot believe I got turned down for instant credit. After talking with people at DELL and at First USA I get the impression that instant credit is not possible. This means false advertising. So I would like to know is there ANYONE who has gotten Instant credit. That means you did not have a Dell Credit card and while placing your order and waiting on the phone gotten approval, a card number, and an expiration date.? In the meantime, now I cannot cancel my application for credit which will be too late to order for x-mas. It is ridiculous that there is no mechanism for stopping a credit application.
A: - I used the instant credit two weeks ago to order my system. The Dell salesperson made the conference call to First USA and the process took less than one minute. 0 payments - 0 interest for 120 days. -I suggest you get a copy of your credit bureau report. Unless I am mistaken, this turn down will appear as a credit denial and may affect your credit applications in the future. Few people truly understand the power wielded by Equifax, TRW, and Experian. Once you are denied, it makes it easier for other companies to deny you as well. Credit card delinquencies, number of open accounts, and number of accounts with outstanding balances all affect your "magic number" assigned by some analyst who can peer into nearly every financial transaction. Once one falls from grace, so to speak, those wonderful offers of 29% APR credit cards, secured cards, and annual fee with one time transaction card offers start appearing in your mail box. And, it is amazing that these institutions make you feel grateful that they will offer you a credit balance based on the amount you have placed in "indentured servitute" with their company. I realize that credit cards are an essential way of life, but I find too many organizations capitalizing on the misfortunes of others with such astronomical interest rates and annual fees.
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