Just checked a deferred interest plan on my Best Buy card!!

[BentValve]

$1000 2 year plan @ 1 year 3 months, interest is $320 so far!...miss one payment and BAM!

I just got off the phone with them , closed my account and this evening I am paying off the card in full...good bye Best Buy! 🙂

 

[GRIFFIN1]

By closing the account before paying off the balance, you agree to pay all interest.

edit... I'm making this up...

 

[BentValve]

:Q

 

[kranky]

Are you saying you had a deal where you had a zero-interest purchase, but missed a payment and they nailed you for interest?

That's certainly not unique to Best Buy. Most places have the same terms.

 

[PricklyPete]

I have no pity in your situation. The contract on those deals is very clear that you'll be hit with the interest if you miss a payment. I for one think it is great that they are willing to take on the interest for me while I do other things with my money...but I'm taking that risk about being responsible.

 

[BentValve]

Whew your wrong thank god.

..umm no I never missed a payment...but if I did they would hit me with over $300 in interest in one shot.


Ive never missed a payment and have never paid a dime of interest to Best Buy.



The point is , IF I had missed a payment I would be screwed. 🙂

 

[icejunkie]

Acknowledged.

 

[Fenixgoon]

better than letting interest accrue, though

 

[KingPhil]

Originally posted by: BentValve
Whew your wrong thank god.

..umm no I never missed a payment...but if I did they would hit me with over $300 in interest in one shot.


Ive never missed a payment and have never paid a dime of interest to Best Buy.



The point is , IF I had missed a payment I would be screwed. 🙂

The moral of this story is, DO NOT MISS A PAYMENT 🙂

 

[tfinch2]

That's the way all no interest financing works. You just lowered your credit score because you got scared like a little girl and closed the account. Now you're gonna go open another CC somewhere for no financing and it's gonna be the same thing. You're the man now dog.

 

[BentValve]

Originally posted by: kranky

That's certainly not unique to Best Buy. Most places have the same terms.

Really, wow. I feel really good about closing my BB account now. Actually over the last 6 months I have cut up 5 credit cards. 2 to go and I am debt free (well CC free anyways.) 🙂

 

[BentValve]

Originally posted by: tfinch2
That's the way all no interest financing works. You just lowered your credit score because you got scared like a little girl and closed the account. Now you're gonna go open another CC somewhere for no financing and it's gonna be the same thing. You're the man now dog.

Your just jealous because you have a BB card and are in debt! hahahah! You are a loser! z😀

 

[tfinch2]

Originally posted by: BentValve

Originally posted by: tfinch2
That's the way all no interest financing works. You just lowered your credit score because you got scared like a little girl and closed the account. Now you're gonna go open another CC somewhere for no financing and it's gonna be the same thing. You're the man now dog.

Your just jealous because you have a BB card and are in debt! hahahah! You are a loser! z😀

No, actually I've never bought anything from BB. I'm not that dumb.

 

[BentValve]

Originally posted by: tfinch2

Originally posted by: BentValve

Originally posted by: tfinch2
That's the way all no interest financing works. You just lowered your credit score because you got scared like a little girl and closed the account. Now you're gonna go open another CC somewhere for no financing and it's gonna be the same thing. You're the man now dog.

Your just jealous because you have a BB card and are in debt! hahahah! You are a loser! z😀

No, actually I've never bought anything from BB. I'm not that dumb.

You got me there. You win. 🙂

 

[MrBond]

No interest financing rocks - I was going to buy an xbox setup a couple years ago, bestbuy was doing a no interest financing deal on all puchases over a certain amount, the whole setup was over that amount so I did the financing.

My money sat in the bank and earned interest, I paid the xbox off over a year. Cancled my account through them, just because I didn't want another statement to keep track of.

I plan on taking advantage of no interest financing when I have to furnish my house - as long as you make the payments, there's no real reason NOT to do it.

 

[RossMAN]

Originally posted by: tfinch2

Originally posted by: BentValve

Originally posted by: tfinch2
That's the way all no interest financing works. You just lowered your credit score because you got scared like a little girl and closed the account. Now you're gonna go open another CC somewhere for no financing and it's gonna be the same thing. You're the man now dog.

Your just jealous because you have a BB card and are in debt! hahahah! You are a loser! z😀

No, actually I've never bought anything from BB. I'm not that dumb.

pwn3d

99.9% of these offers stipulate if you ever miss a payment you lose your promotional APR, it's nothing new.