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Frequent Contributor
Posts: 260
Registered: ‎08-29-2011
0

Amazon 0%

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?

 

 


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Established Contributor
Posts: 766
Registered: ‎01-16-2012
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Re: Amazon 0%

Yes. If you have a balance after 12 months, you pay 12 months of interest.

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Valued Contributor
Posts: 1,990
Registered: ‎09-16-2011
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Re: Amazon 0%

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. 

 

 


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Frequent Contributor
Posts: 260
Registered: ‎08-29-2011
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Re: Amazon 0%

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!


Starting Score Myfico EQ: 676 08/11/2011
Current Score: Amazon EQ Pull: 781 Walmart TU08: 782 AMEX EX Pull: 745 08/03/2014 Goal Score: 780+
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Valued Contributor
Posts: 1,367
Registered: ‎04-20-2012
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Re: Amazon 0%

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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