Walmart's 'No Interest if Paid in 12 months' offers

[JanetRose]

When you buy something over $250 at Walmart and pay for it in full within 12 months, you don't get charged the interest....

Does anyone know when I mail in a payment for my credit card bill, how much of it will go towards that item? I still owe almost $500 on a $750 camera I brought last year - I just want to pay off the camera first so I won't be charged all that back interest. Thanks!!

 

[bsnyder]

When you buy something over $250 at Walmart and pay for it in full within 12 months, you don't get charged the interest....

Does anyone know when I mail in a payment for my credit card bill, how much of it will go towards that item? I still owe almost $500 on a $750 camera I brought last year - I just want to pay off the camera first so I won't be charged all that back interest. Thanks!!

I'm not sure I understand the question. If you get a statement from them with a minimum payment due, you need to make that minimum payment and it should be applied to the principal balance. The statement should also include the exact date when the entire balance must be paid, to avoid the interest accrual.

 

[Allison]

If you have other items on the card, my guess is they are applying the payment to those items and not the no interest item. This then allows them to charge interest after 12 months plus the interest that accrued during the 12 months. This is how Best Buy did it when I purchased an item with them.

You need to call them and ask.

 

[DMickey28]

I have a best buy card like that. It tells me that date to pay off the interest free balance to avoid fees by. I believe I read at some time that it's based on percentage.

The percentage of the balance that the interest free amount is will be paid off by the same percent of the payment you sent in. Does that make sense?

 

[crz4mm2]

If you have exceeded the 12 months interest free, you will have to pay the interest.