AVS Special Member
Join Date: Dec 2000
Location: San Antonio, TX USA
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Be vary careful with these "interest free" deals. Most of them require some type of small monthly payment. Citifinancial claimed I was late with my second payment, which I wasn't, and tried to clip me for a $25 fee. Seeing where this was going, I immediately paid the entire loan off. Mind you, two months into the six month term. I refused to pay the late fee.
At the end of the six months they claimed I owed interest on the full amount of the loan. They had taken my money, paid the late fee first, then applied the rest to the principal, leaving a $25 balance. They have hounded me for years over this, eventually selling off the "bad debt" to a number of others who have hounded me. All this over $25 they tried to extort.
Be careful, they'll look for any way they can to hit you through the back door.