Circuit City advertised 18 months no interest on plasma t.V. Purchases in April. The 18 months no interest was the best deal at the time that I could find. So I purchased the t.V.in July, I noticed the finance charges were not in line with what they should be considering the interest bearing balance on the credit card. Sent an email to Chase Manhattan through Circuit City's consumer credit web-site. Response came back that interest charges begin on day one of the transaction and that was why my finance charges were so high.
This did not make sense at all. I pay well above the minimum and the amount of the finance charges were not in line at all. So I called Chase Manhattan's customer service and was told that all of the payments I've made since April have been applied to the 18 months no interest promotional charges. The interest bearing balance was not being paid down at all until I paid off the 18 month no interest promotional balance. I told Chase that this was nothing more than deceptive trade practices. How can you offer 18 months no interest if you never intend to allow the card holder to carry the balance for 18 months. Not only that but you're never letting the card holder pay down the interest bearing balance as long as their is a balance from the promotional purchase.
I will NEVER buy another thing from Circuit City and I will NEVER have another Chase Manhattan credit card. There must be many many other Circuit City customers who have made purchases during these no interest promotions through Chase Manhattan. Please check your finance charges. Contact the Attorney General in your state if also find this has happened to you.
Attached emails below of correspondence with Chase Manhattan, the issuer of Circuit City's consumer credit card.
To: Circuit City Cards
Subject: Re: Promotions (KMM80)
Date: Aug 11
Spoke with Customer Service tonight with Chase Manhattan about why I'm accumulating
higher finance charges than I should based on the interest bearing balance I've
carried. The finance charges just do not make sense when considering the balance
less my 18 months no interest promotional purchase. The response you sent me attached
below at best can be described as dishonest if not out right deceptive.
You (Circuit City / Chase Manhattan) have applied payments first to the non-interest
bearing balance (18 months no interest promotional charges) instead of to my regular
interest bearing charges. The Chase Manhattan representative (Mary) was absolutely
no help on this matter and refused to correct this. The representative explained
that somewhere in my terms and conditions in the last two years there is an explanation
of Chase's policy in regards to promotions. When I asked to speak to a supervisor,
Mary refused. I would not be allowed to speak to anyone else.
The Circuit City promotion made no mention that all payments I made on my card would
be applied first to non-interest bearing charges first. What it did say was 18
months no interest. My receipt from Circuit City is printed with 18 months no interest.
WHAT BENEFIT IS THE 18 MONTHS NO INTEREST PROMOTION IF YOU ARE NOT GOING TO GIVE
ME THE FULL BENEFIT OF 18 MONTHS TO PAY THE PURCHASE OFF? Why was this not explained
at time of purchase? This is out right deception. I feel that Circuit City / Chase
Manhattan have been dishonest with me in regards to the 18 months no interest promotion
and are basically stealing money from me.
I expect you to credit me for all finance charges since April for payments that
were mis-applied by Chase Manhattan to the 18 months no-interest promotional purchases.
If you check my payment history with you, I always pay well above the minimum and
pay on-time. I regularly use this card while traveling for business. The point
being that I can not believe Chase would rather let me walk away than correct this.
Original Message
From: Circuit City Cards
Sent: Aug 2 4:37 PM
To:
Subject: Re: Promotions (KMM80*)
Thank you for contacting us regarding your Circuit City (R) Credit Card
account issued by Chase Manhattan Bank USA, N.A.
Our records indicate you have both promotional purchases on the account
and regular interest bearing purchases on the account. The regular
interest bearing purchases are being assessed finance charges from the
date of purchase.
Customer Service is our number one priority. If we can be of further
assistance, please contact our Card Services Department at
1-800-477-6761, or visit our web site at www.cardaccountservice.com.
Card Services hours of operation are Monday through Friday, 10:00 A.M.
To 9:00 P.M., ET. And Saturdays 10:00 A.M. To 6:00 P.M., ET.
Original Message Follows:
Form Message
Subject: Promotions
cc_topic: Promotions
cc_name:
cc_homezip:
Email Address:
cc_lasttwo:
Message: Purchased a Panasonic 37" plasma t.V.
During a promotion in April with interest
free for 18 months. T.V. Was a little
more than $2000. I believe that I am
being charged interest on the balance for
this t.V. Even though it was supposed to
be 18 months interest free.
J
Columbia, South Carolina
U.S.A.
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