Fry's Electronics Fried at Fry's. They pushes 0% interest promotion for one year and if not paid in full in one year then charge you deferred interest @ 22% for one year. Duluth,ga, Georgia
This is in regards to the promotional one year 0% interest Fry’s account that was mentioned to me by a salesman on December 2009 when I purchased a Samsung 46” LCD TV for around $1000 It was explained at checkout that I had one year of interest free loan and after that year would get charged interest on remaining amount. Was charged $164.40 the full year of interest as a deferred interest charge "penalty "for not paying off the loan one year from purchase date. It is probably spelled out in the fine print about this interest penalty, however this style of instant deferred interest penalty is severe and not the type of business plan I would expect from a reputable business. This is a predatory entrapment style business plan that is baiting you with 0% interest for one year and then one day after a year has passed pounces on you with a deferred interest penalty. Ridiculous what companies are trying to do to RIP YOU OFF.
Tim
2 Updates & Rebuttals
Ronny g
North hollywood,California,
USA
I agree with Steve 100%..
#3Consumer Comment
Fri, February 11, 2011
...never listen to a salesman. I wonder which salesman Steve listened to when he was convinced to signed up for credit with First premier bank. or did he really make a mistake? If so..that would mean he is human. It seems First Premier Bank according to Steve is a bunch of thugs...THUGS??? Why on EARTH would anyone of sound mind sign a contract with a bunch of thugs?
So, I guess Steve must learn that as a Human, mistakes can happen?
Steve
Bradenton,Florida,
U.S.A.
Never listen to a salesman! Always read for yourself!
#3Consumer Suggestion
Wed, February 09, 2011
This is a common misunderstanding, but totally avoidable if people would just take the time to read the agreement.
This is what is commonly referred to as 12 months same as cash. Which means that you have to make all of your monthly payments on or before the due date, and all payoff has to be made in those 12 months.
Your mistake was listening to a salesman! Never do that!