@Anonymous wrote:
It does not accrue at all it's as if it didn't exist for those 12 months for Balance transfers or 0% offers if lowe'a does that that's a really shady practice.
That's always been clearly explained, and it's not just Lowe's (Synchrony). Every retail card that I know of does this with 0% deferred interest promotions - that's the "deferred" part of it. On all of my retail cards that I have used in recent memory with a 0% offer (Amazon (Synchony), Best Buy (Citi), Home Depot (Citi) and Lowe's (Synchrony), the billing statements clearly show the accrued (but deferred as long as the purchase is paid in full by the promo end date) interest and the date that the balances must be paid to avoid paying the (usually massive 20%+) interest.
@Anonymous wrote:
It does not accrue at all it's as if it didn't exist for those 12 months for Balance transfers or 0% offers if lowe'a does that that's a really shady practice.
Matt4200 - we are talking about 2 totally different things. a 0% promotion on a BT for 12 months, for example is exactly that.
Lowe's is an INTEREST DEFERRED promotion. If you dont have it paid off within the specified timeframe, the interest is retroactive to day one. A normal retail zero percent offer. It's pretty clear - even in the advertising. It's very clear - not like you are stating!
a 0% BT, or promo rate on a credit card, is zero percent for the specified time, and then, after that time ends, then the interest will accrud - it will not start before then, and will NOT be retroactive..
What Lowes, and most other retailers that offer 0%, does, isn't shady, or deceptive. It's very clearly spelled out. No questions. It doesnt get ANY clearer than what it says below IN BOLD PRINT AS WELL
