When a Big Lots associate asks you if you are interested in applying for their special financing on big ticket items such as furniture and electronics, firmly tell them no. Big Lots offers a typical credit card, and the store does offer special financing on specific items and while it might seem like a great deal to those looking to save a little money without putting out a big chunk of change all at once, it’s not. These special financing terms are actually less appealing that the clerks and associates make them seem. The purpose of this is to get you to finance purchases over a few months so that you can take your time paying them back, but the terms are so unfriendly to customers it’s amazing so many people take this offer and run with it. Why shouldn’t you apply for Big Lots special financing? Because you’re going to end up paying a lot more.
No Interest for 12 Months
Sounds great but unless you can really afford to pay off that balance in the first 12 months, you are going to pay handsomely. The interest does not begin to accrue based on the balance left on your card after 12 months. It accrues right away; you just don’t have to pay it if you pay the card off in the first 12 months. And since the beginning interest rate is 24.99%, it’s going to be a very big bill.
Poor Customer Service
According to customers both happy and dissatisfied with their cards, it seems just about everyone is dissatisfied with the customer service they receive when making payments, asking questions and disputing incidents with their cards.
There’s a Fee for Everything
If you need a new card because yours is lost, stolen, or went through the washing machine yet again and ended up in three pieces, you’re going to pay a fee to have a new card sent to you. That fee is $5 per card. It might not seem like much, but when you add in the other fees you’ll end up paying that are just not worth the trouble. One such fee is the payment fee. That’s correct; to make a payment with Big Lots, you have to pay a fee. So you charge money on the card, and then have to pay the card off and pay a fee for paying the card? That’s right; and this fee is not just for late payments; it’s for all payments.
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