topic Re: Q-Card Interest Rate in Suggestion Box

Q-Card Interest Rate

Moneypenny220 — Tue, 12 Aug 2025 17:18:46 GMT

Not sure if everyone knows or if mine is different but the interest rate on my Q-Card is 33%!!!! This is terrible. Does anyone else have this kind of interest rate? I have a good credit rating, so I am just curious? Why would I use a Q-Card when I could use my credit card that has 18% interest? Doesn't make any sense to me. Not sure what benefit I am getting.

Re: Q-Card Interest Rate

haddon9 — Tue, 12 Aug 2025 17:20:20 GMT

No interest if you pay it off each month.

Re: Q-Card Interest Rate

They CallMe MRWILKES — Tue, 12 Aug 2025 17:29:19 GMT

If you perceive no benefit, then obviously use another form of payment! Your personal credit rating doesn't determine the rate that Synchrony charges.

EZ-Peasy, as they like to say, to employ other payment forms.

Re: Q-Card Interest Rate

We rescue cats — Tue, 12 Aug 2025 17:28:03 GMT

It's been sky high for while, but like @haddon9 , we pay the full balance every month. One of the great benefits of the multiple payments way that they bill.

Re: Q-Card Interest Rate

Kachina624 — Tue, 12 Aug 2025 17:30:19 GMT

YES, I think people here who've read the boards for a period of time, are aware of the high interest rate at Sychrony Bank. It seems to escalate everytime someone mentions it. I'm guessing it's the same for everyone.

Re: Q-Card Interest Rate

FranandZoe — Tue, 12 Aug 2025 17:31:55 GMT

I use EZ pay and pay the balance every month. No interest.

Re: Q-Card Interest Rate

Sooner — Tue, 12 Aug 2025 17:32:39 GMT

@Moneypenny220 wrote:
Not sure if everyone knows or if mine is different but the interest rate on my Q-Card is 33%!!!! This is terrible. Does anyone else have this kind of interest rate? I have a good credit rating, so I am just curious? Why would I use a Q-Card when I could use my credit card that has 18% interest? Doesn't make any sense to me. Not sure what benefit I am getting.

Q isn't big on benefits for buyers. Neither is their card. Q doesn't treat customers well at all now.

Re: Q-Card Interest Rate

Icegoddess — Tue, 12 Aug 2025 17:34:17 GMT

The interest rate on store cards is almost always higher than major credt cards even if the backer is a major credit card company. For example, I've had a Sears card for years even though we no longer had a Sears. Many years ago, it was change to a Sears Master Card backed by Citi. Now, it's just a Citi Thank You Master Card. I got a letter today offering me a 0% interest rate for a year after which it would return to 33%, so even though the card is no longer associated with Sears, it still has the store card interest rate.

I never carry a balance on it, so it really doesn't matter.

Re: Q-Card Interest Rate

geezerette — Tue, 12 Aug 2025 17:34:22 GMT

It seems to me when I had multiple store cards they all had interest rates higher than bank credit cards.

Re: Q-Card Interest Rate

They CallMe MRWILKES — Tue, 12 Aug 2025 18:06:45 GMT

QVC is neither a bank nor a financial institution. They don't set the rate on the branded cards issued by banks with which they partner.

As others have noted, the rate is really not that much different than other department store branded cards.

Of course they love to see purchasers use the card and carry balances; QVC Group shares in a portion of the collected interest.

Re: Q-Card Interest Rate

TheMemphisVette — Tue, 12 Aug 2025 17:53:17 GMT

ok this is not new

these 'store' credit cards have always been the highest interest rates

i am surprised this is not known by folks as old as me

Re: Q-Card Interest Rate

Mombo1 — Tue, 12 Aug 2025 18:12:57 GMT

I pay my Q card in full any time I have a balance. No interest accrued. I do not use ez pays and have cut back on purchases. I keep the card for special Q card offers though... I recently made a purchase and got 20% off plus free shipping. So I keep the card for the perks when they are available...and if I really need it....but still pay any balance in full.

Re: Q-Card Interest Rate

ThinkingOutLoud — Tue, 12 Aug 2025 18:23:27 GMT

Maybe it's just me but since shopping at Q is more about wants then needs, why would anyone buy stuff they can't afford to pay off immediately and thus not ever pay interest on the already high prices? Perhaps there's a bigger problem than the 33% rate.

Re: Q-Card Interest Rate

tansy — Tue, 12 Aug 2025 18:26:30 GMT

Get a good rewards credit card. I put everything I can on mine and get a fat check once a year.

That rate is beyond ridiculous. I do not carry specialty credit cards.

Re: Q-Card Interest Rate

tansy — Tue, 12 Aug 2025 18:28:09 GMT

@ThinkingOutLoud wrote:
Maybe it's just me but since shopping at Q is more about wants then needs, why would anyone buy stuff they can't afford to pay off immediately and thus not ever pay interest on the already high prices? Perhaps there's a bigger problem than the 33% rate.

I think EZ pay is a big draw to shopping at Q.

Re: Q-Card Interest Rate

Shelbelle — Tue, 12 Aug 2025 18:34:24 GMT

I pay my CC's in full each month, and never use any type of Easy Pays so I dont even bother to look at interest rates. My motto is if I cant pay it off right away, I dont buy.

Re: Q-Card Interest Rate

Mombo1 — Tue, 12 Aug 2025 18:37:32 GMT

@ThinkingOutLoud wrote:
Maybe it's just me but since shopping at Q is more about wants then needs, why would anyone buy stuff they can't afford to pay off immediately and thus not ever pay interest on the already high prices? Perhaps there's a bigger problem than the 33% rate.

@ThinkingOutLoud So true. That is one thing my dad instilled in me years ago. You have to weigh the "wants vs needs".

Re: Q-Card Interest Rate

elated — Tue, 12 Aug 2025 23:35:09 GMT

Credit card interest rate is very high no matter where you go. I think many people get caught up in the excitement of purchasing and fail to look at the otherside. Many posters have started posts saying what did you buy on free shipping day or talking about the TSV..Some say they are on the fence but as you see later in the day, they bought it. So, it comes down to a matter of discipline. Some shoppers have an addiction to just shopping.

Re: Q-Card Interest Rate

Big Joanie — Wed, 13 Aug 2025 10:45:57 GMT

@ThinkingOutLoud wrote:
Maybe it's just me but since shopping at Q is more about wants then needs, why would anyone buy stuff they can't afford to pay off immediately and thus not ever pay interest on the already high prices? Perhaps there's a bigger problem than the 33% rate.

Could not have said it better myself .... so true ....

Re: Q-Card Interest Rate

frenchie — Wed, 13 Aug 2025 11:17:35 GMT

I use easy pay on every purchase. I pay the billed amount, not minimum due. No interest. I use it for convenience. I never had another credit card. Works for me.