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0 sats \ 9 replies \ @_stacktoshi OP 7 Sep \ parent \ on: Fold card is highly sus and oh yeah, fucKYC bitcoin
No, I was saying I feel like I'm on some watchlist because they're not telling me what I did wrong.
The rewards market is crap. It's just an elaborate network marketing kickback scheme. Sellers pass on all CC fee costs they incur to buyers. Buyers believe they're getting "rewarded", but it's really just enticing them to be data-mined by one card over another. Yeah, some of the reward is covered by late and financing fees, and some of the transaction costs does actually cover operational expenses, but at the end of the day, if rewards didn't exist, all fees (merchant & late fees) would be lower, in a competitive environment. People just like feeling special, even though they're just being socially engineered.
because they're not telling me what I did wrong.
Companies don't have to tell you anything, they even tell you that they don't with "at our sole discretion" phrases in their ToS. Fold has that, too:
3. Access to the ServicesFold retains the right, at our sole discretion, to deny service or use of the Services or an account to anyone at any time and for any reason.
I know it sucks as a customer but from their perspective, it's reasonable.
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When did I claim companies had no legal right to be dicks? This post is about Fold being dicks when they don’t have to be. They don’t owe me anything if they don’t want people like me as customers. It’s okay though, I shouldn’t be the “free” product anyway.
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When did I claim companies had no legal right to be dicks?
From your reply:
If I'm denied credit, the creditor must tell me why. The fact that you won't tell me makes me think there's something nefarious going on there.
You're acting entitled to information you're not (and apparently even know you're not) and even claim they are doing something illegal.
This post is about Fold being dicks when they don’t have to be
Where is their dick move? That they simply denied you service and information like any other company would reasonably do in such a case?
Afaict, you're being a dick to them:
Please escalate this case to someone with common sense there.
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Illegal and nefarious are two separate things. KYC is legal. It is also immoral, given the ways it can ruin someone’s life via identity theft and unwarranted surveillance by the state. It totally violates the spirit of the 4th Amendment. Forget the current law for a second: why are they entitled to a lot of my personal information but I’m not entitled to information why they believe I’m a risk? Does that make any moral sense?
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It’s a dick move to bury shit like that and you know it. As if anyone reads any of that. There’s a presumption with terms of service that you’ll get service by complying with the terms. I complied and didn’t get service.
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Buried? I don’t need to read ToS to know that a company doesn’t have to serve me. They need your info to evaluate if they want to serve you. It’s nothing special, it’s very common. You’re acting like they went out of their way to piss you off but you just had unreasonable expectations.
I’m sorry you didn’t get service though. My only point is that this doesn’t make them dicks.
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Again, I never claimed they must serve me. My claim is that they’re dicks and people should treat them as such. You’re saying that they’re not dicks because I “agreed” with their terms, as if this is a common experience people have and should just say “oh well, that’s their right. I wish them the best”