Store Brand 0 Interest Credit Card Offers Might Use Deceptive Lures to Hook You

Have you received any store brand cards that included 0 interest credit card offers, but later discovered you were charged interest?

If so, you could be eligible to participate in this class action lawsuit investigation regarding potentially misleading 0 interest credit card offers.

Retailers offer store-brand credit cards to promote brand loyalty. Many times, shoppers with store brand credit cards will receive special coupons or other incentives to use their cards at the retailer.

One of the ways a retailer will convince customers to obtain a store brand credit card is by offering  0 interest credit card offers. When customers anticipate deferring payment without paying any interest, they find it hard to say “no” to such offers.

Unfortunately, credit card terms can turn the 0 interest credit card offers into as much as 30 percent interest. How is that possible?

When a customer makes a purchase using a store credit card that includes a 0 interest credit card offer, the card must be paid off prior to the end of the predetermined promotional period. If the card is not paid off by then, or if the customer has been late with just one payment, interest is charged all the way back to the date the original purchase was made.

Potentially Deceptive 0 Interest Credit Card Offers

If you purchased items with 0 interest credit card offers and ultimately were charged interest, you could have been a victim of deceptive sales practices.

Among the retailers under investigation for possible 0 interest credit card offers that end up charging interest fees are:

• Apple
• Cabela’s
• Disney
• Dressbarn
• Forest River
• Furniture Row
• Helzberg Diamonds
• The Home Depot
• Kay Jewelers
• Kohl’s
• Lord & Taylor
• Lowe’s Home Improvement
• Menards
• Mor Furniture for Less
• Raymour & Flanigan: Furniture & Mattresses
• Saks Fifth Avenue
• Sears
• Sony/PlayStation
• Zales

In many cases, the retailers pushing 0 percent credit card offers don’t make it clear that if the purchase is not paid in full by the end of the promotional period, the purchaser will be responsible for interest that is retroactive to the date the item was purchased. The deferred interest can be much higher than a regular interest rate would have been in the first place.

Even though 0 percent credit card offers sound more enticing (and more logical) than a 6 percent steady interest rate, the customer’s ability to fall for the big 0 is something the retailers count on. Retailers know that bills and life can easily get in the way of paying off a 0 percent credit card offer. Once that promotional period ends and there’s still a balance due, the retailer doesn’t hesitate to add on up to 30 percent interest all the way back to the date the item was purchased.

Consumers generally are taken by surprise with the accrued interest because they believe the interest was “waived” instead of just “deferred.”

If you have been taken advantage of by any store brand 0 interest credit card offers, you could be eligible for compensation through legal representation.

Join a Free Zero Percent Store Credit Cards Class Action Lawsuit Investigation

If you were unexpectedly faced with high interest charges on a store credit card even though you made the purchase on a 0% interest store branded credit card, you may be entitled to compensation.

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