Gary, I'm sorry to hear what happened to you. HOWEVER, the situation you describe is nearly as old as the hills themselves.

Furniture and appliance stores are famous for this and have been doing this for literally decades. Interest free for one year - then BAM!!!!

Your first warning should have been: 'No interest credit'. That is NEVER the case. Never never ever never ever. 'Free' credit is paid for by folks like you - who thought they were minding the situation but forgot about the big due date. Miss that date and you'll pay dearly. This is the way it always works in these situations. Always. Count on it like clockwork.

Credit always costs somebody something. Unless you don't treat it like credit like John. In our family, we have 2 credit cards, an Amex and a MasterCard. Paid off every month. It's a check book to us. Interest paid last year on those cards, and previous 10 years or so: 0$. The only reason we have two is because we can use the Amex card at Costco and when we bought the big screen TV there, signing up for it gave us a $100 discount or something to that effect. We use the MC because we get a refund on the balance of a few bucks each month for using it. But we don't use them as credit for more than a 20 day period or so.

Caveat Emptor.

As Jford stated, the bank who made the terms probably has nothing to do with Wal-Mart nor the local people of your community that are employed there.

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