12-10-2012 03:35 PM
So last June I purchase a projector from Amazon and they were offering 0% for 12 months with their credit line, I took it. Today I happened to login my account to see when the promotion ended (just to remind myself that it really was 12 months and not 6). It has a column of Accrued Interest Charges. I haven't missed a payment so I am not sure what that column is. Does it show what interest I would pay if I don't pay the balance by the end of the promotional period?
12-10-2012 03:37 PM
Yes. If you have a balance after 12 months, you pay 12 months of interest.
12-10-2012 03:49 PM
Yes that is the way it works, so best to pay it off a month or so early just to be safe, you don't want to get hit with $250 interest surprise.
12-10-2012 04:17 PM
I just wanted to make sure that that's what it was. I figured it would be the interest amount they would charge if I didn't pay it before then, but I wanted to be certain hehe. Thanks!
12-11-2012 10:20 AM
As someone already said, pay that thing off a month early and get some kind of confirmation for evidence. I missed the pay off date on one of these deferred interest deals on a $2,000 TV I bought at Best Buy and got slammed with some ridiculous amother of interest, $600+ as I recall. With enough complaining they took away the interest charges, but those promotions can be very dangerous.
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