Legal Question in Credit and Debt Law in California

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?


Asked on 2/25/08, 4:48 pm

2 Answers from Attorneys
Stanley Moerbeek The Law Offices of Stanley L Moerbeek

Re: Definition of promotional period ''Within 365 days''

Nope. The year ended on Jan. 8. 2008, or 365 days later. You did missed it by one day.

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Answered on 2/25/08, 5:35 pm
Michael Meyer Law Ofc. Of Michael J. Meyer

Re: Definition of promotional period ''Within 365 days''

I disagree. I think he's within the 365 days (just punch it into excel or any online date calculator).

To see what sort of case you may or may not have, I'd like to read the contract and each invoice. If many customers are paying on the last day, it might be a nice little class action.

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Answered on 2/25/08, 9:38 pm


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