Fairstone/Samsung financing option

[EhsanMirdamadi]

Hello All

I just wanted to share a comment about Samsung/Fairstone, as they advertise as 0 interest financing option.

I indeed took this option for my note 10 phone and turned to be more like a scamming scheme. At the Samsung store in Toronto they asked me if I was interested in such program and I said yes, and they asked for my ID and some personal information and within 30 seconds they said you are approved. No documentation or agreement was presented to me and I got the phone and was happy I had a good deal.

To my surprise I received a call from Fairstone after about a few days and they mentioned to me that you should be careful making all the payments on time unless for any of the late payments you will be charged 20% on the total amount of purchase, I mentioned to them i will be making payments on time but asked why this information was not provided on the signing and they said you should have been provided with such information but obviously I did not.

Cut the story short, I received an invoice for about $250 dollars interest right after making the last invoice and the reason was mentioned that I was late 6 days for my last $100 invoice! Which is interesting because all of the payments were on automatic payment and they claim landed in their account latest.

I think Samsung needs to reconsider its relationship with Fairstone and offer financial services through a reputable firm to avoid such scamming practices. 

I encourage others to report such experiences to consumers right protection.

Regards 

[Dolfinns]

wow ...I thought Samsung used PayBright. In any event, thanks for the heads up.

[keagan]

Hi EhsanMirdamadi,

Please reply to the direct message I sent you.

[EhsanMirdamadi]

I did not find direct messages

[keagan]

Hi, Please follow the below steps.

Click on the Message icon at the top right(Samsung Members) >> Inbox >> To see the DM(Direct Message).

[EhsanMirdamadi]

Inbox does not have any direct message option

[keagan]

Hi, Please click on the message box icon as shown in the picture below

and then you see a message from me "Keagan" and we requested you to provide some details. Please check the message and reply back to us with the requested information.

[keagan]

Hi EhsanMirdamadi, Thanks for sharing the details by responding to DM(Direct Message) we sent you. Please give us the time to review the information provided to us.

[Deeezzyyy]

yeah... never heard of Samsung with fairstone. I used paybright with Samsung with no issues. weird... sorry you have to go through that

[keagan]

Hi EhsanMirdamadi,  I would like to inform you that Fairstone is requesting you to reach out to them directly so they can explain the interest charges. Please feel free to contact them at 1-888-638-2274.