How does Best Buy financing work?

[davidwarren]

One more thing... can I sign up at the store? We finally made a decision to go with the offer. Thanks!

your mom will have to do it, you can not sign someone else up for a credit card.

 

[arthursiew]

Yes, my mom will sign herself up. Thanks for all the help!

 

[Airforcekid]

20% interest will kill you and that one purchase wont be your last. Ive seen it happen debt comes on fast!

 

[Sky Blue]

Like I said, my mom wants me to get into the world as an adult. She wants to make sure that I would be able to cover things on my own like loans and everything.

Then why is she doing it for you?

 

[arthursiew]

Then why is she doing it for you?

I'm paying.

 

[GoCubsGo]

I'm paying.

But you are paying her not BB. Meaning BB will report to her credit not yours. Your mom is seriously setting you up for failure if she thinks that being an adult means signing onto some 25% APR credit card. Those credit cards are for trash.

 

[arthursiew]

I already got these problems solved with all the previous posts. Please read them.

 

[greg555]

I did this once on some furniture (from "The Brick). I made sure to pay it off on the second last month. That way I would get a statement showing a balance of zero with one month to go. If there had been some screw-up I would have had a month to make sure that the problem was corrected before the hundreds of dollars on interest became due.

It worked out okay in the end.

The companies make money from the small number of people who don't pay it off in time. Just be careful not to be one of them.

Greg

 

[arthursiew]

I did this once on some furniture (from "The Brick). I made sure to pay it off on the second last month. That way I would get a statement showing a balance of zero with one month to go. If there had been some screw-up I would have had a month to make sure that the problem was corrected before the hundreds of dollars on interest became due.

It worked out okay in the end.

The companies make money from the small number of people who don't pay it off in time. Just be careful not to be one of them.

Greg

Thanks. My plan is to pay 30 dollars a month regularly and pay 40 or 50 on at least 3 or 4.
TO ALL: I appreciate all the help and concerns, but I'm a very organized person, so I make sure everything is done before I even move on (as in doing something else, sleeping, end of wkend or school )

 

[greg555]

It sounds to me you know what you are doing. So I'll just say enjoy your purchase.

Greg

 

[jbrenn]

how it works

they set the monthly payments so if you pay the minimum payment every month you will not pay off the entire amount owed. so then you pay intrest from day 1. if you are going to do this make sure you pay more than the min payment.

 

[alexlovesmacs]

Wow 20% interest, I rather wait or apply another card like an AMEX or Mastercard.

 

[arthursiew]

Thanks for your concern guys, but I already have my plan. In our family, we tend to pay our monthly bills, like Bill Me Later, higher than the monthly minimum.
Hopefully 24" will be big enough for a room smaller than 100" in height.

 

[arthursiew]

Hey guys! I just decided to go to Circuit City's financing offer and my mom just got approved for it. We are going to buy a Samsung LN40A500 for only $799 tomorrow!!! Thanks for all the help.