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PSA: David's Bridal Credit Card

ktyd8ktyd8 member
100 Comments
in North Carolina
When you go to DBs they offer you their credit card to put your dress on (and yes i know you shouldn't really charge anything for your wedding). Their deal is 1 year of no payments, no interest. Today my one year rolled around, I went to pay it with another credit card that has a lower interest rate (DB's interest rate is 26%). Now I was aware that I would have to pay the whole year of interest if I didn't pay it off in a year, but was never told that the cc must be paid off by check, cash or money order ONLY. Now I have to pay almost $300 in interest. Oh and my payment is due today, but they don't process payments on sundays..so I have to pay the day late fee as well. Ugh. So just a warning: don't use DBs credit card. or if you do, pay it off over the year. end vent.
~Kaitlyn~
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Re: PSA: David's Bridal Credit Card

  • birdcagebridebirdcagebride member
    100 Comments
    edited December 2011
    yeah always read the fine print!! I have never paid a credit card with another credit card so I'm not sure if that's a standard practice to not allow it. Not to lecture, but what you should have done is taken the cost of your dress and divided it by 12 and put that monthly amount into a high yield savings (as if those exist anymore..lol) and then at the end of twelve months pay it off in full and have extra money that you've made in interest! Did you always plan to pay it off with another credit card?? Just sounds like a vicious cycle to me (even after "paying it off", you'll still be paying interest on the new credit card you "paid" it with). Now, not only do you have to pay the $300 in back interest and the late payment fee, now you have to pay the higher interest each month on the DB credit card since you can't afford to pay it off with cash, check or money order in full. Don't even think about doing a cash advance on your lower rate credit card...you'll see the interest rate is obnoxiously higher.
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  • ktyd8ktyd8 member
    100 Comments
    edited December 2011
    no i didnt. it's acutally in my mom's name and she wanted to pay it off with another credit card now that her and my dad are going through a divorce and money is tight. she bought the dress for me and i feel really awful about this whole thing :(
    ~Kaitlyn~
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  • birdcagebridebirdcagebride member
    100 Comments
    edited December 2011
    ugh that sucks!! you could always look at a lower interest rate on a transfer balance offer from your credit card. Just be aware of any transaction fee (and do the math to make sure it's in your favor to do the transfer). Either that, or pay that sucker off as fast as you can to avoid the high interest that will keep being tacked on!
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  • wlfpkbridewlfpkbride member
    1000 Comments
    edited December 2011
    I think it's pretty standard that credit cards have to be paid with cash or check. FI charged my E-ring on the store credit card because they offered 1 year no interest. He put the money he would have spent up front in his money market so he can earn interest on it. He will pay it off in full before the year is up.
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