I purchased several pieces of furniture at RC Willey in Reno, NV and decided to take advantage of their 6 month no interest payment plan option. The statements that I recieved in the mail never mentioned anything about back interest that would be owed if I didn't pay the full amount at the end of six months. The bill I recieved on the fifth month was for the entire amount of the account balance.
I called RC Willey regarding this and they said if I didn't pay the entire amount owed on the account I would owe an additional $500 and some dollars in back
interest. My problem with this is their lack of disclosure on the monthly statements.
I have two other accounts with zero percent introductory rates. One is Best Buy, the other is Suzuki Financing. They both provide statements that clearly show the amount of accumulated back interest and the date that you have to pay by to avoid back interest.
RC Willey has an obligation to it's customers to provide full disclosure of back interest charges on it's montly statements. The reason they don't is simple - GREED. They don't want you to know so they can make more money.
RC Willey needs to step up to the plate and do the right thing for it's customers - like Best Buy and Suzuki financing.
They have a very unethical way of making money off of everyday people.
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