Best Buy / credit (household bank)
In 2003, I purchased a computer from Best Buy for a total of around $1, 100 on their "no payments for 12 months" plan. I made regular payments which got the price down to $600 when I lost my job and missed one payment. They demanded everything up front, and of course there was no way that I could pay the full amount, so they (Household Bank) began to add ridiculous fees and interest adding up to about $50 per month. I could do nothing by this time, since they would accept nothing less than the total amount. By the time the total of my bill reached $2, 200 (remember, this was originally $600), they turned it over to creditors, who were willing to make a settlement of $900. I arranged a repayment plan with the creditors, but Best Buy demanded that they extract a payment sooner than my arrangement would allow.
In short, DO NOT EVEN CONSIDER applying for credit with Best Buy, unless you are willing to gamble with your good credit rating. Their credit department is a predatory and vindictive organization that is little better than a legalize mafia.
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