How much should I pay?
By Lena Kovadlo
@lovebuglena (46732)
Staten Island, New York
June 11, 2025 3:49pm CST
When we bought our living room furniture they had a promo of 0% interest for 36 months when you pay with a Bloomingdale's credit card. I decided to take advantage of that and got the card. The initial credit limit I got was not enough to pay the full amount so they ended up raising my credit limit to allow me to charge the full amount on the card.
When the first credit card statement came for the furniture it said that if I pay $116 each month I will pay off the full amount ($4190.02) in three years without any interest. That's what I paid. When the second statement came it no longer said that. Instead $116 was changed to $188. Only this time it said if I pay $188 every month in three years I'll end up overpaying by about $2562, which makes no sense to me why that is.
They didn't tell me how much I need to pay every month to pay it off in three years and not get charged any interest. And all statements after that say the same thing, if I pay $188 a month I will spend more than I paid, only the amount I will overpay by slightly changes. So far I've been paying $116 every month. Should I keep doing that or do I need to pay more to pay it off by the time the 36-month promo runs out? My first payment was in January of this year.
8 people like this
7 responses
@kaylachan (78020)
• Daytona Beach, Florida
12 Jun
They always want more money. I would keep paying the 116. I think the over payment is a reflection of what it might be with interest. Of course, if you can afford the 186, then you'll pay the balance faster and it'll take less then 3 years to pay it off.
1 person likes this
@kaylachan (78020)
• Daytona Beach, Florida
12 Jun
@lovebuglena Yeah, I can understand that. You really at the end of the day decide based on what you can realistically afford.
2 people like this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
I’d definitely prefer to pay it off faster. I hate carrying a balance on a credit card. I have it on this one and another one I opened when we bought a mattress at Mattress Firm. That one we got 0% interest for 60 months but I don’t want to take that long to pay it off.
2 people like this
@porwest (100740)
• United States
12 Jun
@lovebuglena Although this may be a bit confusing, if I owe 0% interest, it actually costs me money to pay it off before the term. I can explain that if you want.
@porwest (100740)
• United States
12 Jun
At the end of the day, the monthly amount does not matter. The balance does. If you pay the $188, it will simply pay down the balance faster. If you get to the last payment, it will be more or less whatever is left on the balance. You can't over pay because you only owe what you owe, and if it's paid off before the 36 months, who cares? You don't owe the money for 36 months. You owe the money until the balance is paid in full.
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
So why do they give those numbers? To throw people off?
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
Yes, theoretically I can pay everything off within a few months but since it’s at 0% interest I don’t want to do that.
1 person likes this
@porwest (100740)
• United States
7h
So why do they give those numbers? To throw people off?
@lovebuglena I have no idea, but probably. lol
1 person likes this
@celticeagle (175667)
• Boise, Idaho
12 Jun
The company has to make money. Just like a loan. When you get the card there should be a paper in with it explaining how the interest is applied.
1 person likes this
@celticeagle (175667)
• Boise, Idaho
12 Jun
@lovebuglena .........I'd pay the lower amount monthly. When it got close to the 36 months I would try to pay off the balance.
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
@celticeagle That’s a good idea.
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
There is no interest if I pay everything off in 36 months. After that the interest is high.
1 person likes this
@RasmaSandra (85910)
• Daytona Beach, Florida
11 Jun
I have no idea,. You should look online, I gave up credit cards a long time ago and only use my debit card and even jot down what I have and what I spend,
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
By my own math it seems I can pay $116 a month and then the last payment be slightly more and I should be good. I hope I’m not wrong.
2 people like this
@porwest (100740)
• United States
12 Jun
@lovebuglena The only thing you have to consider is whether or not the payment "required" or "asked for" is a minimum payment due. If it is, in that case, if you don't pay the minimum payment, you could be charged late fees, which are worse than interest.
I don't have your bill in front of me so I can't speak to it, so it's just something to consider.
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
@porwest Minimum payment varies each bill but it’s around $40. So far I’ve been paying $116.
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
I hate it when they don’t make things clear.
1 person likes this
@MarieCoyle (44837)
•
12 Jun
I would be mad. They are playing with you, trying to get you to pay it off all at once, I think...I could be wrong but I don't think so. I know another person who bought some things on a plan like this, 2 years same as cash, no interest. It was Macy's...and they played this game with her. The game didn't end well, her brother is a lawyer and he contacted them. She got all sorts of apologies.
1 person likes this
@lovebuglena (46732)
• Staten Island, New York
12 Jun
I have a Macy’s credit card but don’t use it often and when I do I pay it right away in full.
1 person likes this
@MarieCoyle (44837)
•
20h
@lovebuglena
I hope you can find out that you can legally pay as they stated you could.
1 person likes this
@LindaOHio (190998)
• United States
12 Jun
I would call them. There's a chance that if you overpay, you will get store credit instead of a refund. Call them.
@lovebuglena (46732)
• Staten Island, New York
12 Jun
I definitely won’t overpay as I know how much balance I have left each month and won’t pay more than I should. But I wonder why they give me that info that if I pay $188/month in three years I’ll end up paying way over what it cost me.
1 person likes this
@LindaOHio (190998)
• United States
16h
@lovebuglena I have no idea. Makes no sense.
1 person likes this
