- Report: #196885
Report - Rebuttal - Arbitrate
Complaint Review: Home Depot
Home Depot2455 Paces Ferry Road Atlanta, Georgia U.S.A.
Home Depot Credit Services charges 1000% interest on consumer purchases Ripoff Atlanta Georgia USA
*Consumer Comment: Home Depot 12 Months Same as cash
*Consumer Comment: This is actually a great deal
*Consumer Comment: Always highest interest first!!!
*UPDATE EX-employee responds: Who is to blame for all this?
*UPDATE Employee: PLEASE READ THE FINE PRINT!
*Consumer Comment: check your statements!
*UPDATE Employee: Lets try this again.
*Consumer Comment: point not missed
*Consumer Comment: You've all missed the point here
*Author of original report: Thank you Home Depot Finance Company
*Consumer Comment: Mr Employee
*UPDATE Employee: I work for HD Credit Services
*Consumer Comment: 12 months same as cash
*Consumer Comment: Boycott Home Depot!
*Consumer Suggestion: It is NORMAL practice
*Consumer Comment: Thanks for posting this
*Consumer Comment: read the contract
After paying this purchase off over the next 12 months I thought that my obligation was completed. In June of 2006 I was billed a huge interest amount. When I called to inquire, I was told that because my purchase was not completely paid off within the 12 month period they were charging me 21% interest on the entire purchase for the entire 12 months. I was not even given any credit for the money that I had already paid each month! What I was told that because I had made additional purchases on the Home Depot Credit Card, my payments went to pay for those first BEFORE paying towards this older purchase. I was told that I was advised of the terms of the agreement. I don't know what "advised" means. I guess they mean the fine print!
I think that this is imoral and possibly illeagal. I think that I was overcharged. Home Depot should be ashamed of themselves for preying on consumers in this way. How many people are even aware that they are being ripped off in this way? Many stores have stopped using this method of financing because it is so bad. I paid off my Home Depot Credit Services Account in full and closed it as of today. I will take all of my major purchases to the competitor Lowes now and I will pay cash for them. Please boycott Home Depot.
This report was posted on Ripoff Report on 06/17/2006 11:45 AM and is a permanent record located here: http://www.ripoffreport.com/r/Home-Depot/Atlanta-Georgia-30339/Home-Depot-Credit-Services-charges-1000-interest-on-consumer-purchases-Ripoff-Atlanta-Geo-196885. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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