I purchase a $5,000 necklace for my wife Valentine's Day in 2011. I was offered to pay this off interest free if paid in one year. I took the offer. I placed a down payment and the salesman determined what the monthly payments would be for the montly payments ($355.00). He used the Jared computer calculations, so this wasn't human error.
Each month I would receive a monthly bill which I payed off in person using my credit card at the store (Dayton, OH) I purchased the necklace. To my surprised, the last bill contained interest charges for the intire year. The interest rate they tacked on was 24.99% or $595.66. Expecting I was only going to pay my last bill of $355, they wanted $950.66.
I complained to the sales person. She got on the phone to Jared's customer care at 1-800-732-8131. They said the interest charges were added since I did not send the entire amount due before the year ended. I said that JARED set up my payment schedule and I paid early every time I received a monthly bill. They finally waived the interest charge.
When I got home, I callled customer service to complain. They said this was how their system is set up. Beware of Jared's one year interest free program. Make sure the down payment and monthly payments add up to the total amount and the montly amounts are high enough so that your last payment will be inside their one year "drop dead" date! What a sham!
Next time I will take my calculater (not relying on their computations) to make sure their calculations are correct so I don't get screwed again. If I don't they make stick to their guns and force me to pay to bogus interest charges. You can send this to JARED so they will correct their interest free billing practices. Signed, NOT A HAPPY CUSTOMER OF JARED, The Galleria of Fraud.