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Posts: 5
Registered: ‎10-29-2019

Financing Interest Charge HELP

Hoping someone can help or offer advice or has had the same issue....


My fiance entered a financing deal for his cell phone. 24 months 0 interest....or so we thought. One detail escaped our minds after 2 years....

After 2 years if the balance isn't paid off...2 years of interest is charged to the account!!


We have had the card on auto-pay and all goes well so we sometimes don't open the bill.


Well in July the bill was under $400 and no interest being charged monthly. Fast forward to yesterday we opened the bill and balance is $955!!! Wow we thought his card was hacked. In fact, now we wish it had been stolen.


We called and they said it was promotional that the balance needed to be paid in full within 24 months OR the 2 years of interest would be charged to the card! So $500+ was charged and they won't reverse it as it has been past 20 days grace period. We spoke to 2 people including a manager and they refused to help.


For the past year and a half, my fiance has been sidelined by a medication issue and anxiety and depression. I am paying all his bills. This was his 1 bill we were close to not having to worry about anymore. In addition to a huge $500 increase in the bill, there is now interest monthly of $22 on top of everything and payments have been set at $32 for a long time. So we are now only paying $10 per month. Very frustrating and stressful.


If anyone can help us remove some of the $500 plus interest it would be the greatest thing in the world!

Posts: 800
Topics: 55
Kudos: 63
Solutions: 32
Registered: ‎07-23-2018

Re: Financing Interest Charge HELP

Hey, CourtneyM87.


Thanks for your patience as we got to your correspondence, and we appreciate you taking the time to reach out to our team here on the Best Buy Forums. Promotional financing is always a great option, and I tend to use that frequently, especially when making large or unexpected purchases. Having payments set to automatically take care of the bill is a good idea, but interest charges would still apply if the full balance was not paid by the end of the financing term. Please know, you may need to pay more than the minimum due on your monthly credit card statement, to avoid paying interest.  


It’s extremely nice of you to be helping your fiancé out during this difficult time, and I can certainly understand how the addition of unexpected interest charges would be a cause for concern. Citibank, N.A., is the issuer of your My Best Buy Credit Card, and to determine what might be possible, your fiancé would need to speak with them. I realize you’ve mentioned you’ve already reached out, and even worked with a manager, so I cannot guarantee a different outcome would be presented. If the automatic payments were not set up by Citibank, they may be limited in what they can offer for support, as the Terms are agreed to when the purchase is made. Again, they’d need to make that determination, and I’d encourage your fiancé to contact Best Buy Credit Card support through Citibank at (888) 574-1301.  


We definitely want you to be an informed shopper with us, and in effort to help prevent anything like this from happening again, I’d suggest reading through the information in the Financing Guide. It has a section that discusses how you can avoid paying interest in detail. We did receive your private message as well, and I will be replying there shortly to ensure you receive this information.


Kind regards,

Sarah|Social Media Specialist | Best Buy® Corporate
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