topic Re: Q Card Interest Rate in Q Talk

Q Card Interest Rate

MagnoliaMs — Wed, 29 May 2024 23:07:22 GMT

I have been an excellent member since 1986. I just got a notice that Synchrony Bank who provides your Q Card just upped their interest rate to 34%. This is horrendous.

Re: Q Card Interest Rate

MagnoliaMs — Wed, 29 May 2024 23:07:48 GMT

Re: Q Card Interest Rate

rockygems123 — Wed, 29 May 2024 23:08:54 GMT

@MagnoliaMs

Beyond horrendous. Can't imagine carrying a balance. Talbot's card is up there too.

Re: Q Card Interest Rate

MagnoliaMs — Wed, 29 May 2024 23:09:54 GMT

Yes! I paid my card off and will not be using it!

Re: Q Card Interest Rate

Kachina624 — Wed, 29 May 2024 23:16:44 GMT

@MagnoliaMs. This has nothing to do with QVC or the length. Of your membership. It's Sychrony Bank. Most people will just use another CC.

I'm betting Sychrony does the same to all the several hundred retailers with whom they have agreements.

Re: Q Card Interest Rate

Tori3569 — Wed, 29 May 2024 23:21:33 GMT

@Kachina624 wrote:
@MagnoliaMs. This has nothing to do with QVC or the length. Of your membership. It's Sychrony Bank. Most people will just use another CC.

I'm betting Sychrony does the same to all the several hundred retailers with whom they have agreements.

Yes, they have.

Re: Q Card Interest Rate

Mary Bailey — Wed, 29 May 2024 23:42:08 GMT

@Kachina624 wrote:
@MagnoliaMs. This has nothing to do with QVC or the length. Of your membership. It's Sychrony Bank. Most people will just use another CC.

I'm betting Sychrony does the same to all the several hundred retailers with whom they have agreements.

Yes. So far because of this I've opted out of TJMaxx, HSN and as soon as I get the QVC notice, I will do that too

Re: Q Card Interest Rate

Sooner — Wed, 29 May 2024 23:46:13 GMT

Only my Discover card still has a somewhat reasonable rate now. It is criminal what they charge. Robbery that is legal. And unnecessary.

Working folks foot the bill for a lot of freeloaders now, and I think interest rates reflect this.

Re: Q Card Interest Rate

NicksmomESQ — Thu, 30 May 2024 14:51:08 GMT

If people pay it they will charge it!!

My HSN card is with Sychrony Bank . It has a 24% interest rate too. I don't pay interest on my credit cards. I pay off the balance every month. When I got a zero % interest rate, years ago I used to carry a balance. Not anymore.

These banks have some nerve. They give people a pittance worth of interest on their money & then rob them blind on high interest rates when they take out a card.

Re: Q Card Interest Rate

Mary Bailey — Thu, 30 May 2024 00:01:49 GMT

@NicksmomESQ My HSN card just got increased to 34% in July.

I will opt out. When they increase QVC I'll opt out of that too. Already dropped TJMaxx

Re: Q Card Interest Rate

Priss — Thu, 30 May 2024 00:17:02 GMT

Along with the interest rate, they will charge $1.99 to get a statement in the mail.

Re: Q Card Interest Rate

SaveTheTurtles — Thu, 30 May 2024 00:47:45 GMT

All you need is a check/debit card. No interest charged because you are not buying more than you can afford since it's tied to your checking account. No statement charge either. I highly recommend in lieu of using a credit card unless you're paying the balance in full every month.

Re: Q Card Interest Rate

MagnoliaMs — Thu, 30 May 2024 00:53:54 GMT

Yes, Nick’ s mom, you are right. Our Lowe’s card just went up to 31%, too. We paid it off and are not using it. If you opt out does that affect your credit rating?

Re: Q Card Interest Rate

MagnoliaMs — Thu, 30 May 2024 00:56:01 GMT

Does opting out affect your credit rating?

Re: Q Card Interest Rate

Sooner — Thu, 30 May 2024 01:37:29 GMT

@MagnoliaMs wrote:
Does opting out affect your credit rating?

@Yes as I understand it. Better just to not use it than close the account.

Re: Q Card Interest Rate

MagnoliaMs — Thu, 30 May 2024 02:24:00 GMT

You are so right, LisaMartha! Congress could care less about the treatment of the American people! They are so out of touch with the state of our country.

Re: Q Card Interest Rate

Desertdi — Thu, 30 May 2024 03:49:43 GMT

Congress doesn't control interest rates. The Federal Reserve does.

Credit card rates are set by the bank that owns the card.

Re: Q Card Interest Rate

elated — Thu, 30 May 2024 03:48:36 GMT

I don't understand why people are complaining about high interest rates on credit cards because if you pay them off every month, it doesn't affect you. If you carry a balance from month to month, then it is hard to pay it off. I wonder if people understand about credit cards. All credit cards have increased their interest rates. This Is our world going forward.

Re: Q Card Interest Rate

MagnoliaMs — Thu, 30 May 2024 03:50:29 GMT

People understand credit cards. They should not have to put up with usery and being taken advantage of.

Re: Q Card Interest Rate

Nightowlz — Thu, 30 May 2024 04:45:59 GMT

@MagnoliaMs wrote:
Yes, Nick’ s mom, you are right. Our Lowe’s card just went up to 31%, too. We paid it off and are not using it. If you opt out does that affect your credit rating?

@MagnoliaMs

We only use our Lowe's card on higher priced items so we can get the 5% discount. Not much but every bit adds up. We pay our balance in full.