In Store Credit Cards
It sounds inviting, advertisements that offer you free interest for six, twelve, or eighteen months on purchases over x amount of dollars. It sounds good, but here’s what you may not know.
The devil is in the details, and it’s easy to get burnt. It’s true, you will pay zero percent for x amount of time, but if you don’t pay off the entire purchase in that amount of time, then, once the zero interest period expires, you will be charged the full amount of interest from the day of your purchase. Stores are counting on you to pay only the minimum amount due on your monthly statement. The minimum is not based on the zero percent agreement, but it is based on the maximum life of the charge. This is usually calculated at three percent of the out standing balance. At that rate you would be making payments for several years, and instead of the savings you thought you were getting, it can cost you two or three times the purchase amount in the end.
Not only will you end up paying the interest back to your purchase date, the interest rate you pay will most probably be quite high. As high as twenty nine percent. Store charge cards are almost always higher then rates found and offered by nationally recognized major credit cards.
Now that you know the facts, shop smarter, and have fun.
Share your in store credit card stories with us, we would love to see them.
Sale invintory
When we see an advertized sale at a major electronics store in the news paper, that is usually an indicator that you can get the item just by going to the store. That is, as long as it is in stock. Not at Best buy you can’t. It seams that if people order the sale item via the stores website, and they elect to pick the item up at their nearest store, that cuts into or eliminates the inventory for those of us who saw the sale in the news paper, and don’t order on line.
I must wonder, is this fair, could this be construed as a form of bate and switch?
This store is not the only one to use this method as a way of selling their merchandise. This form of marketing is becoming more common every day, and while it might be great for the stores, and for some smart computer savvy consumers, those consumers who like to buy the old fashion way are being left behind.
