Buzzword: Bait and switch

Hook, line and sinker brings us this week’s Marketplace Money buzzword: Bait and switch.

Bait and switch is a fishy sales tactic. The seller lures you in with the promise of a product, perk or feature that seems like quite a catch. Then, when it’s time to close the deal, the terms, conditions or products suddenly change. This week, New York’s Attorney General Andrew Cuomo accused computer giant Dell of bait and switch advertising. He says Dell reeled in customers by dangling pledges of zero percent financing, then raised the rates upon purchase.

Dell denies the charges. Now it’s up to their lawyers to get ’em off the hook.