Store credit card charging me $1,000 in back interest

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
5 posts
kjmac
 
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Location: portland/OR

Store credit card charging me $1,000 in back interest

Postby kjmac » Sun Dec 08, 2013 12:00 pm

So my wife and I bought a few items from Best Buy 3 years ago including a TV and refrigerator and opted for the 0% interest for 36 months.

My wife has been paying on the card every month and did not realize that the promotion was ending for the TV, so to our surprise this month we received a bill with $1000 worth of interest charges.

I called to see if we could pay what was remaining on the bill (~300) and have the interest charges removed. They said it was outside of their 20 day window and that they could not do that. My question is: Does anyone know if there is a way that we can dispute these charges and just pay off the remainder of what is owed?

Kent


dickey1331
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Location: Houston, TX

Postby dickey1331 » Sun Dec 08, 2013 5:45 pm

I dont think so. It tells you on the bills when the promotions are ending. It really falls on you for not paying attention.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

PhoenixDown
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Postby PhoenixDown » Sun Dec 08, 2013 6:23 pm

That's the very reason why they give out the promotions because they know a good number of people will not pay it off on time and get hit with the back interest.

cashback
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Location: NY

Postby cashback » Sun Dec 08, 2013 6:53 pm

Chalk it up to a lesson learned.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

takeshi
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Location: US

Postby takeshi » Mon Dec 09, 2013 8:49 am

kjmac wrote:Does anyone know if there is a way that we can dispute these charges and just pay off the remainder of what is owed?

Not unless you have a leg to stand on that you haven't mentioned yet. Terms were disclosed to you at the beginning. It's your responsibility to ensure that the balance is paid prior to promotion end to avoid interest.



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