<prompt> Human: I bought a laptop at Pesky Guy last September for 700. 12 months no interest if the balance is paid off in full at the end of the year. I see my bill jump from 40 remaining balance to 200 remaining balance this month. What? Oh, ok, I have a 116 interest charged in the PAST MONTH on a 40 BALANCE!!! Why? Because the interest accrues over the full year and is slapped down if the balance isnt paid in full over 12 months. Heres the reason I am posting- You gotta read your statements, and you gotta contact customer service when something like this happens. I chatted online, complained that their system quickly emails me when a payment is due, but cannot warn me in advance when Im about to be subjected to high interest rates. I told them that at that price, I will certainly default on my payments, because I cannot afford to pay. I offered to settle by paying off the principle in full today, if they completely wave the interest. I waited 2 minutes or less, and Pesky Guy accepted my offer. Friends: Corporate America knows that people are absent-minded and will not pay attention to crazy charges. They also bet on people using auto pay and not realizing when they are paying too much. I did an automatic transfer from my bank account for all payments. Pesky Guy DID NOT have my debitcredit card information. I cannot stress how important that was in this scenario. Otherwise I would have been duped andor needed to fight the charge on a credit card. If they took payments from my debit card, it would have been almost impossible to get that money back.Happy financing, friends!Assistant: Why? Because the interest accrues over the full year and is slapped down if the balance isnt paid in full over 12 months...which is made explicitly clear in every terms of service that you agree to when you sign up for these things.I guess its good that they waived it though.If they took payments from my debit card, it would have been almost impossible to get that money back.While true, it is money you owed after all. This isnt a case where you were wrongfully charged.Human: Well the charges are laid out, but quite greedy. Yes technically I signed an agreement where I would owe them. Im sharing this so people dont assume that just because Pesky Guy charges them, they are resigned to paying a ridiculous amount. Assistant: Well the charges are laid out, but quite greedy.Why is it greedy? And if it was so greedy that you didnt want to pay it, why did you agree to it?Human: Hey you think a 30 interest rate is reasonable? It is a greedy interest rate. Yes, I chose to sign up for it and I agreed to those terms. Yet when it came time to pay it, I found it a large cost that was difficult to cover. And I had it waived. And I shared so others can try the same if something similar happened to them. When an interest rate grossly outpaces the regular market, I call it greedy because they expect customers to pay back the principle at a rate that is higher than they could earn on any investment. Edit: removed incorrect dollar sign  <response>: The bigger issue is that if you cant afford to pay cash on the spot for a 700 laptop...then you probably shouldnt be buying that laptop...maybe once that costs 350... 