Finance – Page 25 – Mouse Print*

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LifeLock: Don’t Do As We Do

February 18, 2008February 18, 2008 by Edgar (aka MrConsumer)

With stories about identity theft, stolen social security numbers, and compromised account information filling our newspapers weekly, no wonder a number of companies have sprung up to help protect you.

LifeLock is one such outfit. Unlike ID Vault , previously mentioned in Mouse Print* as a service to protect your online login information, LifeLock aims to protect your personal information from being used to commit ID theft for $10 a month.

In a full page newspaper ad [Boston Globe, Feb. 13, 2008], as well as in TV, radio and web ads, LifeLock’s CEO, Todd Davis,Â publishes his own real social security number to show how confident he is in his service being able to protect him. And they even offer a $1 million dollar service guarantee.

The asterisk after “social security number” goes to this fine print disclosure:

*MOUSE PRINT:

“*Never share your social security number or personal information unnecessarily.”Â Â

So besides doing exactly what he counsels prospective customers not to do — putting personal information out there for all to see –Â he has also voided his own $1 million guarantee.

*MOUSE PRINT:

“18. … In addition, you agree that you will not purposely engage in behavior that will put your personal information at unnecessary risk, such as leaving your PIN or passwords in obvious places or publishing your Social Security Number. “

And, in the irony to end all ironies, Todd Davis had his social security number stolen last year after publicizing itÂ in advertising. It was used to fraudulently obtain a $500 loan. [see story]Â Apparently the company found the guy who did it and because they allegedly coerced aÂ confession from him, no prosecution could go forward.

That doesn’t exactly create the type of first person testimonial he might have been hoping for.

Next week: We will look deeper into what services LifeLock offers, and the questionable way part of it works.

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Quicken: The Software That Becomes Crippleware

January 28, 2008January 28, 2008 by Edgar (aka MrConsumer)

Since the beginning of January, owners of Quicken 2005 have been bombarded with reminders (via pop-ups when starting up the software, and by mail) that on April 30, 2008 many important features of the program will stop functioning. Mouse Print* this week will examine the stark contrast between these current elaborate disclosures and how poorly new customers are warned before purchase that the software will become substantially disabled in three years.

In a January mailing to Quicken 2005 customers, the company warns:

When starting up the software in 2008, this pop-up warns of the forthcoming crippling:

For many users, the ability to download statements from their bank and stockbroker monthly, get stock quotes, as well as being able to pay bills and transfer money online, are key reasons to use Quicken.

After presenting the bad news, Intuit, the maker of Quicken, offers the solution: buy an upgrade to Quicken 2008. In the past, for many users this has not been a huge issue because Quicken Basic has always been free after rebate when purchasing the company’s tax preparation software, TurboTax. This year, as noted in last week’s edition of Mouse Print*, the company discontinued Quicken Basic and made its substitute product (Starter Edition) incapable of importing existing Quicken files. That forces customers to buy an upgrade for $59.99 (less during promotions) to Quicken Deluxe.

Incidentally, the company says it is costly to support prior versions of Quicken, and that is why they discontinue these critical functions every three years. They apparently have not changed the technology they use to communicate with banks and brokerage firms, however. That would have been an understandable reason for the nonfunctionality. It appears that the company just deliberately disables the online functions to enable it to generate more income from current owners.

Okay, so Quicken has a three year life for certain important functions. How do they convey that critical limitation to prospective customers?

*MOUSE PRINT: On the spine of the 2008 box, buried within the copyright notice, in type so small the actual notice is less than an inch wide, it says (enlarged below):

The disclosure merely says that online features are subject to change in accordance with the “discontinuation policy” (previously called their “sunset policy”) listed on their website. The “subject to change” language also appears in a tiny footnote on the back of the box. Similar non-specific notices appeared on the 2005 Quicken box.

In no way, shape, or form is this adequate notice that the Quicken product you are about to buy will have key features of the software disabled/crippled in April three years after the date on the box. The essence of consumer protection (and fair dealing) is to provide the customer with all the relevant facts beforeÂ purchase so they can make a more informed buying decision.

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Quicken Starter Edition: Not for Upgraders

January 21, 2008January 21, 2008 by Edgar (aka MrConsumer)

As we approach tax time, many consumers are in the market for new tax prep software and may at the same time upgrade their financial management program such as Quicken. The bad news is that the combination deals of past years where one could get Quicken Basic free after rebate when purchasing TurboTax are all but gone. The replacement offer is less generous than it appears to be because of details in the fine print, and a change of corporate philosophy.

This year, Intuit, the maker of both TurboTax and Quicken, is commonly offering “Quicken Starter Edition” free after rebate when you buy TurboTax. If you think they merely changed the name from “Quicken Basic” to “Quicken Starter Edition”, think again. This free Quicken version is unlike any other Quicken.

MOUSE PRINT*:

Only on the back of the box are potential customers warned, “Starter Edition is for New Quicken users. Does not import existing Quicken data.^{1 1} … Existing Quicken users should not purchase Starter Edition 2008.”

Huh? Intuit has gotten smart (to our detriment), and has discontinued “Quicken Basic,” the product previously offered free that many of us used for upgrading our older Quicken versions. Its replacement cannot import data from other Quicken editions, so for anyone with existing records to preserve, this version is useless.

As a result, current customers must now buy Quicken Deluxe, retailing for $59.99, if they want or need to upgrade. Smart business decision (probably) for Intuit, but expensive policy change for customers.

You might ask, why bother upgrading — just keep using your old Quicken? That would be great but for an even nastier bit of mouse print that will be discussed here next week.

NOTE: Some sellers are offering very limited time deals on Quicken Deluxe free after rebate when TurboTax Deluxe is purchased… so grab them when you see them. Until January 26, for example, Staples is offering TurboTax Deluxe w/State 2007 for $39.99 and Quicken Deluxe is free after two $30 rebates. In-store, save an additional 12% off the top with this coupon.