03 February 2010
We all know text messages are short, with a maximum of 160 characters but do you know how much they cost? A computer scientist named Srinivasan Keshav testified last year in front of US Congress on this issue. The message are such a small portion of data that is costs most carriers less that $0.003. On a prepaid plan which is normally $0.20 for outgoing and $0.10 for incoming text messages, that is approximately a 6500% markup! Even if customers have an unlimited plan for $15, that means they would have to send 5000 text messages. Carriers say that they use this profit to invest in new technologies which may be a benefit forconsumers (and more likely investors) in the long run.
How about another ripoff, Freecreditreport.com
Ever see those ads on TV with a catchy jingles trying to bring you to their website for a free credit report? That song will be in your head for days and their Triple Advantage Credit Monitoring service will be added to your bills for months. The service pledges to continuously track your credit for a modest $14.99 a month. Instead of using this service, consumers can try two other sites. The first is sponsored by the US Federal Trade Commission at AnnualCreditReport.com The three big credit monitoring services are required by law to provide you with your credit information once a year. Use each of these free services every 4 months and you can track your credit for free.
Another of our favorites is CreditKarma.com. They off you a true free credit report and try to sell you some services via advertising, none of which is to invasive.
Read about more of America's Ripoffs at Yahoo! Finance.