We were talked into a "12 months no payments, no interest" offer by an Ethan Allen Salesperson. After some substantial furniture purchases, we sat on our "free money" for the 12 months. When the first payment came due, we planned to pay the full balance, but a real estate transaction we were expecting had not closed, so we just made the first month's payement -- anticipating paying the balance off within a few weeks. SURPRISE! All 12 months of interest were immediately accured to the account balance -- totallying nearly adding nearly 15% to the balance due. We contacted the Ethan Allan salesperson to see if something had been set up incorrectly. She assured us that it wasn't supposed to work that way. Unfortunately, after digging into it further, she too was duped. Sure enough, in the fine print -- if the full balance is not paid off by that first anniversary, all BACK INTEREST is also accrued to the balance. Holy cow, what a SCAM these GE guys are running. I bet they got their bonuses this year. Never again, GE. NEVER!
