an entire year of no interest, no payment financing!

[echostar]

"an entire year of no interest, no payment financing!"

does that mean i dont pay ANYTHING for a year, or dont pay any INTEREST for a year

[ibclubbin]

probably dont pay anything until a year has passed, then you begin to pay both interest and payment, but nothing on the time that has accrued

BG

[echostar]

woo hooooo!!!!!!!!!!!!!! thats what i thought, this rules....i can buy whatever the fuck i want and not pay for a year?? does it get any better??? :D

[deeprock]

I'm not sure that's right. While you wouldn't have to make ANY payments during the year, usually this type of offer means that interest accrues in that year.

Sometimes (like Amazon is doing right now) they'll say something like "make no pay for three months" and if you pay off the entire balance off within those three months, you won't get charged interest. Once those three months are up you have to pay all that accrued interest at whatever rate they charged you.

Bottom line, check the fine print. Paying accrued interest can be a bitch if you're getting charged a high rate.

[deeprock]

In case my post was unclear:

1. You probably will not have to make payments for an entire year

2. When you start making payments you will end up paying more over the long run because of that accrued interest.

[echostar]

*On orders with your Sam Ash credit card, subject to credit approval. This is a same-as-cash offer. If balance on these purchases is paid in full before the expiration of the promotional period and your Account is kept current, accrued Finance Charges will not be imposed on these purchases. If balance on these purchases is not paid in full, Finance Charges will be assessed from the purchase date at the Standard Rate of 20.96% APR. For Accounts not kept current, the Default Rate of 24.96% APR will be applied to all balances on your Account. Minimum Finance Charge $1.00.

:D

[deeprock]

Just as I figured. 21% interest?!?

[heretic909]

I dunno. I had one of those Guitar Center cards which sounds like the same type of thing. I applied for it at the store and used it to buy a piece of gear and they told me no payments til some future date. Then when I started making payments on it, they added on this ungodly interest rate and I ended up paying a shitload more.

[echostar]

If balance on these purchases is paid in full before the expiration of the promotional period and your Account is kept current, accrued Finance Charges will not be imposed on these purchases.