HRS USA & Best Buy rip-off customers with "90 days same as cash" promotion
I purchased a $150 item June, 2001 at Best Buy using their "90 days same as cash" promotion. The monthly statements from their finance service, HRS USA, state "if we receive (purchase price) by the promotion expiration date X/XX/2000, no FINANCE CHARGES will be due on the purchase. Any minimum payments on other credit plans and/or accrued account protection charges are due by the payment due date." Since I had no "other" credit plan, I waited the 90 days and paid the purchase amount.
The next month I got another bill, with $48 in "late fees" and about $10 in finance charges. I called HRS USA and their story is that "90 days same as cash" requires minimum payments. What???? How is that same as cash? $58 in finance charges over 4 months? That's 110% APR!! IT'S A RIP-OFF!
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1 Updates & Rebuttals
Tom
Fort Wayne,Indiana,
Learn to read!!
#2UPDATE Employee
Wed, July 17, 2002
If you would have read any of the wording beside all of the "90 Days Same as Cash", it states with minimum monthly payments. That is your own carelessness. I don't know about you but I read all the print not just the big bold print, especially when having to do with financing. It still be 90 Days Same as Cash if you had made you monthly payments. You would have been charged no finace or late charges had you done this. More than likely the payments where very small. I had $1200 on 6 Months same as cash and my minimum montly payments were only $27. You just have to make sure then you have the full amount payed of by the end date given. It is very easy, if you would have just read the reciept. So don't blame the company on your own ignorance. It doesn't state "90 Days No Payment, no intrest", it is "Same as cash" Learn to read!