Circuit City - FNANB-Bank One Circuit City Bank One Interest Rip-Off! Fraudulent! Interest Kennesaw Georgia

Consumer Awareness is the key to avoiding this type of situation. It doesn't matter if you go to a business where you have a line of credit or if you use a major credit card (Visa, Mastercard, etc.), you MUST Read the Terms of Service Agreement.

These companies prey on and rely on the fact that most people only see 0% and not the FINE PRINT. These companies are banks and in order to provide a line of credit to you, they have to make money off of you. When you are offered ANYTIME a lower or 0% interest rate on certain purchases for a certain period of time, you will still be charged interest on the previous balance.

You cannot choose which account you want to pay off first. It doesn't work that way or read that way in the terms of agreement. That's how these companies get you by offering these promotions. I, unfortunately, fell for it twice until I took a business class in college and did a lot of research at CNN Money (http://money.cnn.com) and The Motley Fool (http://www.fool.com).

!!!REMEMBER!!! Any payment you make goes toward the lowest interest accruing balance, not the highest.

Here is a scenario:

You have a normal 9.99% APR on a balance of $1000

Then, you are offered a 0% APR on purchases or balance transfers for the next year.

You take advantage and purchase a $2000 television.

Once you made that purchase, you just put the initial $1000 on hold to pay off until you pay off the $2000 television. Except, the interest on that $1000 is not put on hold, it's being tacked on each month.
Before you know it, a year has passed, the initial $1000 balance is probably doubled because you, most likely, only made the minimum payment each month, and you still haven't paid off the $2000 television, which now cost you $2000 plus the interest you've been charged over the past year on the $1000 balance, plus the new interest you are accruing now that the one year period has ended.
My advice is don't use credit cards, except for emergencies and pay them off every month. Also, do research and get things in writing. Someone's WORD is only as HONORABLE as the person speaking. Since, in your case, it was a salesperson, that alone should tell you something of where their loyalties lie.

Circuit City has some of the worst corporate management I have seen as an ex employee. They are very corrupt, well not the majority of them but enough to make the business look like s**t. Retail theses days is falling apart. My advise is to avoid buying from fortune 500 companies, they are all the same!!!!

The no interest thing is a scam, because when you make more purchases the balance all goes to the same place, the no interest balance is not separated. thus when you pay a bill they automatically assume you are paying off the first bill and charge interest. my advice to you is to report Circuit City to the Better Business Bureau and sue them on principle.

I am a former EMPLOYEE and I hate it when companies try to cheat customers. I know individuals who will go 150% to help their customers. But I am yet to see a business that truly considers the customer to always be right on principle.

Circuit City in fact along with others make you sign a contract that you will not reveal the mehotds you are trained to handle returns and such, because their logics are 100% unethical!