Complaint Review: CIT Financial - Dell Financing

I bought a Dell computer 7/04. Dell advertises no credit charges for 1 year after a quick background check. I decided to apply for credit and pay it off over the next year as we were at the time considering buying another house.

Two months later I get a statement with a $15 finance charge!! I called CIT and found that I did not qualify for the 1 year any finance charges. This is hard to believe as we recently found our credit score in the high 700s and I pay off the credit card every month. We also just bought a bed for three times the computer cost and have free financing for a year on this account. I requested that the credit line be cancelled and offered to pay off the loan immediately. Not surprising I was told that I would have to pay $10 to do it over the phone.

It is my opinion that this is a fraud. They offer the free financing and only give it to a very select few or to those that are at risk for not paying it off over the next year thus incurring the finance charges.

Aaron
Fremont, California
U.S.A.