David's Bridal Credit Cards

becka31523

This was my mistake for not reading the fine print or reading my statements, but with paperless billing and online payments, who really does anymore? I just want to warn other brides so they don't fall victim to this. I had a David's Bridal card and was excited to put my videographer and photographer on it, because I thought I was getting a good deal. I remember them telling me that the 0% APR would run out after a certain amount of months, but I didn't pay much attention because I was excited about getting married. Well to my surprise, I checked my balance the other day. I was down to about $1400 on the card, when I started with about $3,000, but now my balance is about $2,200. The issue with the 0% promo is that if you don't pay it off within however many months they tell you, they then charge you 27% interest on the entire purchase (not whatever balance is on there). So now my $1400 balance is up to $2200 thanks to the $800 in interest they just charged me. Sure there was a note on my statement, but I have paperless billing so to see my statement I have to go online and download it. I'm busy and didn't think there were any issues since I was paying on time, etc. The note was on the last page hidden away. I understand in their eyes, they've been up front. Also, I know I should've known better and checked. But still, I find their practices to be deceitful and don't want anyone else to end up with this issue. Please be careful if you sign up for their card!!

Heffalump

So what you're saying is, don't make a financial decision if I'm too lazy to pay attention to the details, because the company is looking out for their interests and not mine? Good to know!

Up next: running with scissors: yay or nay?

AuntFlo

Is this your first credit card?

tawillers

becka31523 said:

This was my mistake for not reading the fine print or reading my statements, but with paperless billing and online payments, who really does anymore? I just want to warn other brides so they don't fall victim to this. I had a David's Bridal card and was excited to put my videographer and photographer on it, because I thought I was getting a good deal. I remember them telling me that the 0% APR would run out after a certain amount of months, but I didn't pay much attention because I was excited about getting married. Well to my surprise, I checked my balance the other day. I was down to about $1400 on the card, when I started with about $3,000, but now my balance is about $2,200. The issue with the 0% promo is that if you don't pay it off within however many months they tell you, they then charge you 27% interest on the entire purchase (not whatever balance is on there). So now my $1400 balance is up to $2200 thanks to the $800 in interest they just charged me. Sure there was a note on my statement, but I have paperless billing so to see my statement I have to go online and download it. I'm busy and didn't think there were any issues since I was paying on time, etc. The note was on the last page hidden away. I understand in their eyes, they've been up front. Also, I know I should've known better and checked. But still, I find their practices to be deceitful and don't want anyone else to end up with this issue. Please be careful if you sign up for their card!!

All the financially responsible ones do.

becka31523

Like I said, I know this is my fault. But I do want people to be aware of this. 

Heffalump

becka31523 said:

Like I said, I know this is my fault. But I do want people to be aware of this. 

And for the love of god, please get your pets from an animal shelter.

AuntFlo

becka31523 said:

Like I said, I know this is my fault. But I do want people to be aware of this. 

You know how people can be aware of this?  They can read the credit agreement and statements.

Heffalump

AuntFlo said:

becka31523 said:

Like I said, I know this is my fault. But I do want people to be aware of this. 

You know how people can be aware of this?  They can read the credit agreement and statements.

That takes the challenge out if it.

alikatt17

This is how any deal w/ 0% interest for a certain length of time on a credit card works.  It's not just DB. 

Wzz

how is this a deceitful practice if you've admitted using your own words that you weren't paying attention?

GBCK

alikatt17 said:

This is how any deal w/ 0% interest for a certain length of time on a credit card works.  It's not just DB. 

Truth.
My dad explained this in excruciatingly boring detail to me when I was like 12.
And he explained the 6 months interest free mains you pay it to zero on month 5 because shady places used to like to pretend they didn't get that last payment/didn't get it on time.
(Boring when age 12.  Useful as an adult

alikatt17

I did this with a TV once.  I divided it up by 12 months, paid that amount every month instead of the minimum, and I paid it off without owing any interest.  THAT is how you do 0% interest credit promos.

dharmabunny

AuntFlo said:

Is this your first credit card?

This kind of offer is standard issue (including the APR hike calculated from your starting balance) for just about ANYWHERE that issues this kind of offer and runs it through a credit card.

Every last credit card company RELIES on consumers' bad habits, unwieldy balances and overall thoughtlessness in order to generate the kind of money they want to see coming in.

Maybe this is a lesson in READING terms and conditions and overall common sense of the customer instead.

Pandemonia

Nearly all credit cards offer interest free incentives. Note the word "incentives" here. Nearly all credit card companies benefit enormously from people who fail to read the small print or indeed educate themselves in the basic facts about credit cards. Namely that, with the possible exception of payday lenders or doorstep loan sharks, they are the single most expensive way of borrowing money. 

It's not being deceitful. It is boring. But by heck, it's the sort of boring that is extremely usefu!

sarahufl

I have had several 0% APR cards at various times in my life- big vacation planning, a cross-country move. Never paid a dime of interest on any of them.

This is common and you should ALWAYS read the fine print. Be careful with your money, people!

6fsn

Now I'm thinking about the first time I bought furniture this way.  My father went over and over and over the deal with me.  He even called me before the time was up to make sure I'd paid it. 

Maybe the real problem is your dad?  (that was a joke)

MearB

Well, I didn't know that david's and bridal had a credit card. But its nice to know and I will avoid it.

Wzz

what will you avoid, @mearb?

GBCK

Wzz said:

what will you avoid, @mearb?

her dad.

(^please read that in a voice that is usually used for 'your momma'.  I'm in a mood)

MearB

Avoid the credit card.

Wzz

many credit cards offer 0% financing promotions. DB is not the only store to offer special financing with certain terms.

kns1988

Store credit cards suck. High interest rates with little to no rewards. I avoid them like the plague.

ChemFanatic25

I have a credit card that does 0% interest if you pay off whatever within the first six months of purchasing the item. You do not loose this as long as you always pay it off. If you do not pay after 6 months then you interest increases to around 26-27% or something crazy like that. It worked out great when my puppy had to have surgery. Paid off $1000 in less than 6 months. I read the fine print and am a-ok. No big deal, just need to be responsible and not get caught up in the moment and then forget everything.

thejucheidea

becka31523 said:

I understand in their eyes, they've been up front. Also, I know I should've known better and checked. But still, I find their practices to be deceitful and don't want anyone else to end up with this issue. Please be careful if you sign up for their card!!