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    Dell 6 months no interest question

    Discussion in 'Dell' started by tgabe213, Aug 31, 2007.

  1. tgabe213

    tgabe213 Notebook Enthusiast

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    Example:

    My laptop is $1,500. I get 6 months 0% interest. Say after 6 months, and I have $500 I haven't paid off yet, do they retroactively charge you interest? So that '6months no interest' is useless? Or is it only on the balance after the 6 months?
     
    tgabe213, Aug 31, 2007
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  2. kalm

    kalm Notebook Consultant

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    the N months no interest deals almost always require that you pay off, if not all interest becomes due (at usually very high rates). i'm pretty sure i've read at some point dell deal is like this too. what you can do is to transfer the amount to another credit card at the end of 6 months but don't miss it.
     
    kalm, Aug 31, 2007
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  3. Devedander

    Devedander Notebook Evangelist

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    Yeah 99% of the time 0% interest requires you to make minimum payments and pay off in full by the end of the promotion or you get hit with interest on the whole deal.
     
    Devedander, Aug 31, 2007
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  4. Saneless

    Saneless Notebook Evangelist

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    You should only be charged with the interest that has actually accrued, though.

    So if it was 1500 and you paid 1000 one day into your 6 months, after 6 months you'll only be charged 6 months of interest on 500.

    But yeah, pay that crap off! It's not even close to a good rate either
     
    Saneless, Aug 31, 2007
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  5. robko626

    robko626 Newbie

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    Think of the "no interest" thing as a option to pay it off over the course of six months. Interest accrues during those six months. If you pay it off before they are up, you don't have to pay it. If you don't -- you get hit with all of it. It says "no interest" but that's only if you pay it all off. The rate after those six months is usually in excess of 20%, so yeah -- pay it off.
     
    robko626, Sep 10, 2007
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