topic Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!! in Q Talk

LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Mon, 30 Jan 2023 23:37:35 GMT

Ok I have "good" credit not excellent and just took a really good look on the statement to see a whopping APR of 30.74% interest rate!!!! WHAT!?!??! I am going to pull my folder out that I keep the last 6 statements in and see "when" or even how long this has been going on and usually Im pretty good looking at "everything" but have had a rough couple months dealing with mom and dementia so havent looked as well.

I am very curious to see a POLL here of if you have "good credit" (or even fair) what youre paying in interest from Synchrony Bank!! My mouth is on the floor this is totally totally off the charts even tho I realize interest rates have climbed during this time but this is sickly!!! Seriously!!! I need to do some type of adjusting here or just stop buying/using this card (which I havent used in two months) but to see 30.74%????!!!!! Insane!!!

Pls check yours and I would be curious to see others' ....

About every 6 - 9 months or at least once a year I make a habit of calling to see about lowering interest rates on my cards -- as I am good loyal paying customer (early all the time) more then minimums due too! But do admit, I've never ever tried QVC (synchrony bank) to see about lowering but thats going to change now. We shall see!) This is insane!!!

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

Kachina624 — Mon, 30 Jan 2023 23:49:50 GMT

I don't have any account with Synchrony Bank, but I do know every time the Fed raises the Prime Interest Rate, banks raise the rate for customers who use credit. I'm kind of surprised to hear it has gone that high. None of my credit cards are charging nearly that amount but I don't think Synchrony is known as a paragon of banking virtue. It's called sc*ew the customer.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

CoffeeNut — Mon, 30 Jan 2023 23:51:38 GMT

30.74% interest is ridiculous. It would take forever to pay off any balance if you did only the minimum payment.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

BluestarFL — Mon, 30 Jan 2023 23:56:42 GMT

I noticed this myself last week when the QVC bill came in as well, so it's funny you should mention it. I checked my other cards that have balances due- Chase and Wells Fargo.

Neither was anywhere close to that rate of interest. I was floored when I saw it just like you! I don't even owe QVC that much, but that is my interest rate too. I stopped using their card many months ago and always pay on time and more than the minimum due.

I moved this card to the top of my 'must pay off soon' list because that rate of interest is ridiculous.

I don't shop on the Q like I used to since their product prices are so high, but this interest rate....Totally Crazy!

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Mon, 30 Jan 2023 23:58:29 GMT

Right!?? Im very surprised about this hike to 30.74%!!! Tomorrow morning first thing, I will pull my folder out and look back on the last 6 months statements!

The rest of my credit cards is in that range of 17 to 19 point something %!!! But 30.74% is .......!!!! smh!!! Def sc*ew the customer!

Well there's going to be changes somehow someway ...Im not accepting this at all!

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

azgal — Tue, 31 Jan 2023 00:00:13 GMT

I looked at two of my cards and one is 29.9 and the other is 29.7 I have excellent credit. The 29.9 is synchrony.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

loriqvc — Tue, 31 Jan 2023 00:01:03 GMT

@mommytwins - I have excellent credit and my APR also went up to 30.74% as of January. As @Kachina624 noted, the prime rate for credit cards is regularly adjusted for alignment with federal increases and decreases, and the rates for the past year have been abysmal. (My other more traditional credit card has also had APR increases.)

However, all that said, the APR for my Q Card makes no difference to me; I've never paid a dime in interest. All you need to do is pay your minimum Easy Pay balance each month (or the minimum amount due if it is higher) and they truly assess no interest. I'm sure I'm the customer they really don't want since I'm able to take full advantage of the benefits of a payment plan without giving them any extra money.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

CoffeeNut — Tue, 31 Jan 2023 00:03:18 GMT

@mommytwins Can you switch your Synchrony balance to one of your lower rate cards then cancel the Synchrony card?

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Tue, 31 Jan 2023 00:04:13 GMT

Right!?? So crazy!!! smh!! My miniminum due is $78 and I pay $100. I pay the same day I get the bill or the following morning. Credit is "good" (lower good side)

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

LLYinNY — Tue, 31 Jan 2023 00:07:02 GMT

You can borrow money cheaper from the Mafia. Lol.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Tue, 31 Jan 2023 00:12:05 GMT

BOOM!!! Same boat!!!! I too have not been buying much from them either maybe two things for christmas for my mom....that was it!

I was getting in a better habit too (prior to not buying as often but when I was ....I would hop online and switch my payment method to a credit union card with much lower interest rates. So when I saw this 30.74% I flipped and still shaking my head!

Yep, like you this has moved to the top of my list (along with Discover!) If ever one day the plan for me is to keep 2 maybe 3 ccs -- and if possible only have "credit union" cards. My credit union credit card from my prev' govt job has "never ever" changed the interest rates not once believe it or not!!! Its still at 12%!!!!!

30.74% is unnaceptable!

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

sunshine45 — Tue, 31 Jan 2023 00:13:25 GMT

i have a QCARD and have had one for a long time now.

the interest rate doesnt bother me and i have other store branded cards that are in the same general range. i pay them off each month so that i dont pay the crazy rates. synchrony and comenity are two of the major banks issuing store branded credit cards.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

Mz iMac — Tue, 31 Jan 2023 00:13:27 GMT

@LLYinNY wrote:
You can borrow money cheaper from the Mafia. Lol.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

Roscoe the Rascal — Tue, 31 Jan 2023 00:14:17 GMT

I had not noticed but I do not carry a balance. Once my easy pays are done I'm going to stop using anyway. Been cutting way back and tired of having easy pays every month. That is ridiculous.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Tue, 31 Jan 2023 00:15:13 GMT

See and you have excellent credit. This really is terrible!!! My eyes will be open alot more then they already were in the coming months .... :-(

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Tue, 31 Jan 2023 00:17:20 GMT

Thanks...thats exactly whats going thru my mind tonight....May see about my credit union card and switch over or transfer if possible. I love my credit union I have from my prev govt job. Their interest rate never has changed in all the years I've been with them back since 84'. Still at 12%!!!!!

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Tue, 31 Jan 2023 00:22:50 GMT

LOL!!!!

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Tue, 31 Jan 2023 00:27:30 GMT

Thats going to be my goal to work on....get the balance down enough to where I then pay off each month. Well...actually Im just not ordering or havent ordered much from the Q as I used to. Prices so rediculous I can get better quality at Macys or elsewhere it seems ...well with good sales but even new arrivals just almost same prices the Q is selling for anymore these days.

Am being much more mindful then previous years but now that I see this APR will be alot more mindful haha.

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

mommytwins — Tue, 31 Jan 2023 00:30:59 GMT

Amen to that! Me too me too!!!

I have 3 christmas tops actually and things will be changing after the easy pays in fact I think I'l go online tomorrow and switch / edit the payment method again to my credit union cc and pay those off. Thats a start.

But im finding better deals these days at other stores...the obvious of course (kohls etc) but even macys and some other higher end places (especially sales). I cant believe a regular shirt anymore is in the $60-$78 range. Call me old school but thats not happening unless its absolutely beautiful show stopper! lol

Re: LET DO A POLL HERE! 30.74%APR on QVC statement! WHAT THE HECK!!!?? INSANE!!

frenchie — Tue, 31 Jan 2023 00:34:34 GMT

You do know that if you pay the billed amount you pay no interest. I use easy pay on everything and pay no interest ever. Do not pay minimum due.