Comments on: So what is Sux Falls gonna do when First Premier starts laying off people?

By: Costner

Costner — Thu, 22 Oct 2009 13:28:32 +0000

And when you get one of T Denny’s cards, you don’t even have to use it before you have most of your line of credit used up in various upfront fees.

Oh I get it. The government has to coddle to those among the populace who can’t read the terms and disclosures of the cards they sign up for. So really they are protecting people from their own stupidity by legislating laws to essentially bubble wrap stupid people in order to protect them.

Thanks for clearing that up… it makes complete sense now.

By: Monster DAWG

Monster DAWG — Wed, 21 Oct 2009 03:30:24 +0000

I’ll never forget the time I took an application into the call center out by the industrial park and the lovely First Premier manager gal had yellow jaundice eyes from spending 90% of her day in cube hell. Good riddance of another call center if they close down that crap.

By: Anonymous

Anonymous — Wed, 21 Oct 2009 00:26:25 +0000

Micro-managing???? BS!
The public demanded these new laws… and not just the “financially ignorant” among us.
And when you get one of T Denny’s cards, you don’t even have to use it before you have most of your line of credit used up in various upfront fees.
The government was absolutely right in putting a stop to this high-tech robbery!

By: Costner

Costner — Tue, 20 Oct 2009 18:47:31 +0000

T. Denny isn’t going anywhere. He didn’t get where he is by being stupid, and I’m quite sure he is well aware of how to modify his business model to continue to make money by preying upon the stupid or financially ignorant among us.

Say what you want about the predatory nature of First Premier, but I’ve yet to hear of anyone holding a gun to a customer’s head and forcing them to sign up for one of these idiotic cards and then forcing them to actually use it.

It’s called personally responsibility. I’m tired of our government having to hold the hand of the lowest common denominator within our populace. I have no problem mandating that companies clearly disclose their terms (in plain English) but the micro-managing of industry is getting a tad out of control.

By: Sy

Sy — Tue, 20 Oct 2009 16:17:44 +0000

Warren,

I think you’re painting with a pretty broad brush there. The reason all these places are still around and will continue to be is they are operating within the boudries of the Law as it was and will be written. Are they skirting those boundries? Sure, but that only puts them into the same category as certain Realtors, Attorneys, Car Salesmen, Mary Kay reps, etc.

You also have to remember that with any business model, there’s good and bad apples and good and bad stories behind them. I’m sure any of these companies has happy customers who used their cards as they should and it helped them one way or the other, it’s just no one wants to write or blog about that because what fun would that be?

By: Ghost of Dude

Ghost of Dude — Tue, 20 Oct 2009 16:05:37 +0000

BTW, if Total Card Inc. is still in business, T’ Denny’s house of pain will still be in business too.
TCI has already changed their business model.

By: John2

John2 — Tue, 20 Oct 2009 15:51:55 +0000

They won’t fold. It’s an empty threat. They will have to live like the rest of us – with reasonable expectations, with reasonable profits and profit margins.

By: Ghost of Dude

Ghost of Dude — Tue, 20 Oct 2009 15:23:22 +0000

It’s possible.
I wonder how long it would be before all the stuff named after Sanford is renamed.

By: l3wis

l3wis — Tue, 20 Oct 2009 14:46:29 +0000

GoD – You never know, they may just cut their losses and move on.

By: Ghost of Dude

Ghost of Dude — Tue, 20 Oct 2009 14:17:55 +0000

They’ll find a way to make money. The people who have First Premier cards will still want a credit card. They’ll switch to secured cards or some other line of credit.