Harvey Norman Int free my ****

heavyballs

went throught the whole process to get €1500 for new tele etc,
was told interest free,
got approved only for the girl to tell me there was a daily "service" charge of 86cents
yes i know that's not interest but i was well pissed off,
i feel a term as important as this should be mentioned on adds on the radio and not just be covered by their t&c's apply bs

mcaul

I thought all fees must be taken into account when displaying the APR?

86c a day is €313 / year which suggest an interest rate of 21%.


Possibly, - and maybe you could check it - there is a daily charge which is added to the amount if the terms of the interest free loan is not adhered to.

e.g. - if you do not pay by the scheduled date, the €313 / year charge is applied immediately to the account, whereas if you do pay by the date, it is not charged.

heavyballs

mcaul wrote: »

I thought all fees must be taken into account when displaying the APR?

86c a day is €313 / year which suggest an interest rate of 21%.


Possibly, - and maybe you could check it - there is a daily charge which is added to the amount if the terms of the interest free loan is not adhered to.

e.g. - if you do not pay by the scheduled date, the €313 / year charge is applied immediately to the account, whereas if you do pay by the date, it is not charged.

i think because it's a service charge they can still say it's interest free,but yes if you don't pay within the agreed time then real interest of about 27% i think kicks in as i think the service charge can only be applied over the term of the initial agreement

Captain Flaps

I remember there being a lot more posts here. Or is this a repost?

Catlover

Yesterday I went into Harvey Norman in Swords to buy a plug charger for my iPod. €58 for a Logic 3. Got it later in O2 in Donaghmede shopping centre for €14. No comment needed.

heavyballs

Captain Flaps wrote: »

I remember there being a lot more posts here. Or is this a repost?

no ,not a repost,it was last week,was thinking of going a bit mad this christmas,any chance of a lend?

Captain Flaps

Har Har.

ncmc

We have bought items as part of the interest free promotion in Harvey Normans. If you read the small print, the repayments they initially set you up with aren't sufficient to pay the amount in the interest free period, so you end up getting hit with huge interest rates when your interest free period expires. However, you can phone them and increase your monthly repayments and thus have the amount paid off within the interest free period. It is extremely sneaky of the finance company, so it just shows, you have to be on the ball when signing finance arrangements.

That said, we have never paid any service charge on anything we have bought on the interest free option, I think the OP is referring to the interest you would pay if you didn't alter your payments to repay the amount within the interest free period.

heavyballs

ncmc wrote: »

That said, we have never paid any service charge on anything we have bought on the interest free option, I think the OP is referring to the interest you would pay if you didn't alter your payments to repay the amount within the interest free period.

no i'm not referrring to interest after the agreed period,
i read all the documents,it was an aussie company and there was a service charge of around 80 cent per day starting from the when my first payment was made,
maybe they have changed the way it's done,i've had interest free credit before where i've paid a fee of around €40 for the duration but this is different,this is dressed up false advertising(they're correct,it's interest free but no memtion of service charge in adds)

clived2

went throught the whole process to get €1500 for new tele etc,
was told interest free,
got approved only for the girl to tell me there was a daily "service" charge of 86cents
yes i know that's not interest but i was well pissed off,
i feel a term as important as this should be mentioned on adds on the radio and not just be covered by their t&c's apply bs[/quote]



Havent u learned anything, dont buy crap on credit,

heavyballs

clived2 wrote: »

went throught the whole process to get €1500 for new tele etc,
was told interest free,
got approved only for the girl to tell me there was a daily "service" charge of 86cents
yes i know that's not interest but i was well pissed off,
i feel a term as important as this should be mentioned on adds on the radio and not just be covered by their t&c's apply bs

Havent u learned anything, dont buy crap on credit,[/quote]

firstly it wasn't crap,secondly i have bought on credit from both next and Jim Langan couple of years ago when i bought a new house,was very happy with both,they were both completely int free once i paid within the allocated timeframe which i did
The way you're half hearted contribution reads you'd swear i had been stung by this type of credit bs b4,that's not the case