Financing Plans

Ride now. Pay later.


Helen’s Trek Card Financing Plans FAQ’s


What is the Financing Plan being offered?

Helen’s is offering 6 months no interest and 5% monthly payment required
Customer will not have any interest for 6 months but they are required to make a monthly
payment to the credit card company during this 6 month period. The monthly payment is
5% of the purchase price. If they do not pay their full balance off in 6 months they will
be charged interest of 24.99% from day one on the full balance and then going forward.
The customer will receive a monthly statement that includes detailed payment
information.

Example: $1,000 sale on the 6 months plan

Helen’s charges the Trek Card for $1000. The customer receives a statement. The
minimum due each month is $50. The customer must pay at least the minimum monthly
payment. Paying only the minimum monthly payment will not pay the balance off within
6 months. In order to take advantage of the no interest benefit the customer will either
need to pay more than the minimum monthly payment each month or pay the remaining
balance as their last payment.

 

Why is there no 3 months plan?
Part of the CARD Act passed in 2009 stated that financing plans had to be 6 months or
longer.

 

Why is there no interest and payment deferred plan?

The CARD Act of 2009 states that all financing plans require a monthly payment.

 

Does the customer’s monthly statement show what financing plan they are on?

Yes. It also includes the date the balance needs to be paid in full and how much interest
will be applied if they do not pay the balance off by the due date.


How to apply?

  • In any Helen’s Cycles store – any sales person can assist you in the process.