Best Buy is a pretty great store. They have all the latest gadgets andt their computer prices and accessories are a pretty good deal.
However, there is a BIG problem with their financing. My wife and I went to buy a new computer. We found one for around $1,200. We applied for a Best Buy credit card and were instantly approved for $3,000. We were told there would be no finance charge for 18 months if the purchase was over $499.
When the first bill arrived the minimum payment due was $12. Ok. But on the bill it also stated that if we want to stay on the deferred payment plan, we were required to pay $77.72 within 2 months in ADDITION to our minimum payments! What kind of "s*" is that?
There's more. Our payment was due on 1/31/09. We went on-line and submitted our checking account information and paid $15 over the minimum amount due. Then we were advised that since it's a "rush payment" ANOTHER $15 would be deducted from our checking account.
I can hardly live with that but $77.72 (!!!) to keep our deferred payment status? I'm 61 years old and been around the block a few times but I NEVER heard of anything like that.
I plan to pursue this as far as I can take it. The consumer complaints is just a start.
ADVISE: Put your purchase on a credit card but don't get a Best Buy Credit Card!
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