One of the greatest scams I’ve ever seen…
I found out about this on the Colbert Report, and since Mr. Colbert did such a great job explaining Kwedit, I might as well just have him tell you about it. (Seriously, I strongly recommend everyone to watch this.)
Well… If you didn’t watch that video, this is how the Kwedit Promise works:
“Want to get extra stuff for your favorite game? Got cash but no way to send it? Kwedit Promise can help.
When a game or other site offers Kwedit Promise, you get virtual goods immediately in exchange for a Promise to pay for them later. Each site offers you a certain amount of Kwedit to use right away to buy things.
When you Promise to pay, you are allowed a few days to pay off your Promise. If you pay your Promise on time, your Kwedit score rises, and the next time you play, you may get a larger Kwedit allowance on this and other Kwedit-powered games.”
They don’t mention though that the bill is for actual money. And if the kids don’t have the money to pay for it, they can have Kwedit send their parents an e-mail to pay off their “Kwedit debt” either online OR at (of all the places) a 7-Eleven. Yes. That 7-Eleven. (How sketchy does paying bills 7-Eleven seem?)
The “Kwedit” score doesn’t actually have any bearing on a FICO Score or any credit at all; it’s promoted as a way to make your kids fiscally responsible. They essentially guilt trip the kids (they claim they target teens) into not breaking their “Kwedit Promise” to get the cash they want.
After the Colbert Report segment aired, Kwedit addressed their criticisms on their blog. I don’t buy it. Sicne the Digital Age, I’ve felt like we try to make kids grow up too fast. And this is a easy way to exploit that trend. This really irks me. Should it?