Vent: That $700 car repair I put on my card back in 2018

I put a transmission flush on a credit card with 0% APR for 12 months, figured I'd pay it off slow, but then the term ended and I forgot about the deferred interest. It ballooned to like $900 before I caught it. Does anyone still fall for those 0% promos without reading the fine print?

3 comments

3 Comments

ray6132d ago

My buddy did the exact same thing with a furniture store card back in 2019. Thought he was being smart buying a couch on 0% for 18 months, then missed the deadline by like a week and got hit with all that deferred interest. He still brings it up whenever someone mentions store credit cards.

joseph_green132d ago

My coworker fell for that same trap with a Best Buy card a couple years back. He bought a new TV and sound system on the 0% deal, set a calendar reminder and everything. But then he got stuck at work late on the due date and forgot to pay until the next morning. The interest kicked in on the full original amount and it was like an extra $400. He still gets annoyed every time someone talks about buying electronics on credit. Have you ever had that kind of surprise with a store card?

lisab321d ago

You ever do that thing where you just pay it off early to avoid the headache? That's what I did with a mattress purchase last year. Had a 0% for 24 months deal but set up automatic payments to have it cleared in 18 months instead. Cost me a little extra per month but honestly the peace of mind was worth it. Missed deadlines are the worst. Now I just treat any 0% offer like a ticking time bomb.