Last August I purchased several suits, shirts, and ties at an S&K Menswear in Harrisburg, PA. The clerk informed me that I could get "same as cash" of up to 120 days because of the amount of the purchase. At the time I thought it sounded like a great idea, so that's what I did.
No one at the store explained to me about "minimum" payments due on this so called same as cash. So obviously, when statements started to show up, I just assumed they were generated as a courtesy to the customers, I mean after all I have used same as cash before and there were never any minimum payments due.
Unknown to me, I lost my so called "same as cash" privilege and was being charged an astronomical rate of interest. I started to receive calls about my payments, so I went to S&K Menswear and inquired about this "same as cash". They said that they had received complaints from numerous customers in connection with this promotion, and they were unaware that minimum payments were required.
Needless to say I have called and I was told that these interest charges cannot be disputed and was treated very rudely every time. My finance charges will amount to 33% of my total purchase, which was paid within 122 days of my purchase. I explained that I would be more than happy to pay a "fair" amount for the 2 days past the 120 days, but I was told no.
I will never due business with any company who deals with GE Capital. Unfortunately for S&K Menswear, they have lost my business as well. This is not "same as cash" when you are required to make minimum payments. GE Capital can say that it is, but any one who has been unfortunate enough to have dealt with GE Capital understands it to be a "scam".
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