No Interest if Paid in Full Promotion

No Interest if Paid in Full Promotion

At times, we may offer special promotional financing offers for certain transactions ("special promotions"). The terms of the Agreement apply to any special promotions. However, the terms of any special promotions that are different than the terms in the Agreement (if any) will be explained on your charge slip. For example, you may see special promotions on a charge slip, such as:

• No Interest if Paid in Full Within 185 Days
• No Interest if Paid in Full Within 12 Months
• No Interest if Paid in Full Within 24 Months

If the entire balance of a qualifying purchase is not paid in full within the promotional period, interest will be charged from the purchase date or as specified on your charge slip. Interest is assessed at the APR for Purchases that applies to your Account when the qualifying purchase is made.

When you make a qualifying purchase under a special promotion (also known as 'Deferred Interest Promotion'), no interest will be charged on the qualifying purchase if you pay the entire balance within the applicable promotional period. If you do not, interest will be charged on the promotional purchase from the purchase date or as specified on your charge slip. Minimum or fixed monthly payments are required. Regular Account terms apply to non-promotional purchases and, after a special promotion ends, to qualifying purchases. Special Promotional Financing Offers are subject to credit approval. Special Promotional Financing Offers may not be available at all times for all purchases. Please see any special promotion disclosures provided to you in your charge slip (if any) for the full terms of any special promotion that may be offered.

Videos

Please watch this educational video about the No Interest if Paid in Full or also known as Deferred Interest promotion.

Please watch this detailed video explaining Deferred Interest and the importance of communication-related to this promotional offer.

https://www.youtube.com/watch?v=GwD0ODgVWY8

FAQs

Is this a No Interest or a 0% Interest loan?

No. Interest will still be accrued based on the APR%. By meeting the terms of the promotion, you can avoid interest being assessed to your account.

How do I see the promotional balance amount?

On your monthly statement, the promotional balance is displayed at the "Balance Subject to Deferred Interest." This value will tell you the total amount you have to pay by the end of the promotional period to avoid paying the accrued interest.

How do I see the deferred interest charge?

On your periodic statement the "Total Deferred Interest Charges" show the consumer how much-deferred interest will be charged if the balance is not paid in full prior to the end of the promotional period.

What are some flexible options to make it easier to pay your promotional balance by the end of the promotional period?

1. Choose how you want to pay.
2. Take advantage of Autopay.
3. Make larger payments less frequently. (Even if you make larger payments less frequently you must still make the Minimum Monthly Payment to avoid penalties & fees)

If I only make the minimum payment due each month will I pay off the entire purchase by the end of the promotional period?

You may not pay off the entire purchase by only making the minimum payment due, you may have to pay additional amounts to pay the balance in full by the end of the promotional period.

Do I have to make equal payments to meet the promotional period?

No, but you do have to pay the minimum monthly payment on time each month. You just need to make sure to pay the balance in full prior to the expiration date to avoid paying interest.

Will my monthly payment amount change after the promotion expiration date?

No, your monthly payments are based on a percentage of the highest account balance to ensure equal payments each month.

Will my interest be compounded and result in more interest being charged? If so, can I decline the promotional offer?

No, the promotional term does not result in more interest being accrued or assessed. Your loan is a Simple Interest loan with payments based on a percentage of the highest account balance. The Deferred Interest offer provides you an option to avoid paying interest if the terms of the promotion are met.