Circuit City Chase Deferred Interest Promotion Fraud Scam cost me $2,500
I bought a TV & video camera 2 & 1/2 years ago. I got the 3 years deferred interest plan, with a min payment of $75 per month. I paid each month on time for 2 & 1/2 years. I guess I was 4 days late (96 hours) on a minimum payment of $75, of which I am sure Chase forgot to mail me a statement.
This 96 hours delay cost me $2,500, Chase undid the promotion, and applied all the deferred interest to my account, I went from owing $4K, to $6,500. They undid all the promotions the TV & Camera were bought in different years, they undid the entire account, and tacked on $2,500 to my balance.
After talking to 8 different advisers, (with their talking/answer scripts) they all had the same answers, which was I broke the contract, and it was in "my fine print", and their mailed statements are only a courtesy, and not only do I now owe them an extra $2,500, my interest rate is 22.9% on the entire balance.
The only thing I remember was I had to pay them off in 3 years, which I was closely watching, never knew that if I was an hour late on a payment, I would owe them all that money. I even offered to give them the $4K 6 months before the due date if they would let me off the hook for the (96 hours oversight)
No luck, if I don't pay them, the will mess up my credit. They did say if they agree to settle (my owing just the $4K, if I even get approved) that an "R5" will hit my credit report. So is it better to pay the ransom and save my credit report, or try and settle with an "R5" or just not pay a dime and get a charge off? Can I sue them in small claims court to try and get a judgment? Or just "bend over" grin and bear it?
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