California | Credit and Debt Law
2/25/08, 4:48 pm
Legal Question
Definition of promotional period ''Within 365 days''
I accepted a promotional financing offer from Fry's Electronics. The offer was described with the following text:
Big print: ''1-YEAR NO INTEREST*''
Small print: ''...Interest will be charged to your Account from the date of purchase if Promotional Plan balance is not paid in full within 365 days...''
I purchased the items on 1/9/07 and paid the balance in full, 365 days later, on 1/9/08.
The financing bank claims that the promotional period expired on 1/8/08 and that 1/9/08 does not fall ''within'' 365 days. This interpretation will cost me nearly $500!
Is the bank correct in law?
Do I have any reasonable grounds to dispute the finance charge?
Share This On:
