Is the 0% Interest Offer Through Best Buy Financing Deceptive?

Have you participated in in-store cards through Best Buy financing because of a 0% interest offer, only to later be hit with substantial interest fees? You may be able to join a class action lawsuit investigation into deceptive financing and interest charges, which is looking into Best Buy financing practices for its store-branded credit card promotions, as well as those offered by several other companies.

Store branded credit and debit cards are becoming a much more widespread option at Best Buy and countless other stores. These cards are often offered for a promotional period with a 0% interest rate, but a growing number of customers claim that this may actually be a deceptive offer.

According to customers, these kinds of offers may seem like a fantastic opportunity, but they can eventually lead to the placement of unfair charges on their customers when they don’t expect a charge at all for their supposed “0% interest” plan.

Best Buy Financing

Best Buy financing
offers a few options for its in-store credit card. Its first such offer provides 0% interest for six months, assuring customers multiple times that “You will NOT be charged interest” when the debt is paid within six months.

But customers may not be aware that they must pay off their balance in full during the promotional period. At the end of the promotional offer, if they have not paid in full, customers may suddenly be hit with all the interest that accrued during the promotional period.

Being offered 0% interest can be especially tempting on large items like furniture or electronics, but it is these very kinds of purchases that accrue substantial interest that can cause serious fiscal damage after the given promotional period is over.

Filing a Best Buy Financing Lawsuit

Even when customers are promised 0% interest charges through Best Buy financing, or another company’s store credit cards or financing programs, they may ultimately be hit with charges of up to hundreds of dollars. When customers are hit with deferred interest after the promotional period is over is when they find out that interest has been accruing since they made the initial purchase.

As soon as the 0% interest offer window is over, customers may suddenly face massive interest charges that have been building over time. For some store credit cards, interest rates can be very high—even up to 30 percent. Built up over a period of six to 18 months, these retroactive interest charges can be substantial.

Some consumers say that the lack of distinction between these real 0% interest programs and deferred interest is confusing and, depending on the way a company advertises, may be purposely deceptive in order to trap customers.

Besides Best Buy financing, other companies being investigated for potentially using deceptive financing practices include Amazon, Office Depot, Sears, Kohl’s, and several others.

If you participated in a 0% interest promotion agreement through Best Buy financing or another company’s store-branded credit card, but were later charged an interest fee, you may be able to participate in a lawsuit. Specialized lawyers can answer questions to see if legal recourse is an option for you.

Join a Free Store Debit Card and Credit Card Fees Class Action Lawsuit Investigation

Did you participate in a 0% interest promotion on a store-branded credit card and were charged an interest fee? Were you unexpectedly charged a Returned Payment Fee on a store-branded debit card? You may be eligible to join this class action lawsuit investigation into allegedly deceptive store card fees.

Join the Investigation Now