A few months ago someone linked to an article in the WSJ (?) about QVC and one of the findings was that QVC (and HSN) charge a staggering interest rate on their private branded credit cards. QVC has an interest rate of 24.99% APR and HSN is 26.99%, compared to an AVERAGE interest rate of 15%APR in the credit card industry. IMO that's majorly taking advantage of the customer, especially because the ones who can't pay their bills are the ones who have the lowest incomes. And the majority of QVC customers are older ladies -- IMO not right to take advantage of them.
There was another news story about the credit card industry and GE in particular. I found an online site where people complained about GE's tactics. I guess QVC uses GE because someone posted about QVC and I wondered if other people have heard any horror stories about QVC credit cards. With such a high interest rate and late payment charges I'm surprised we don't hear more about it on here -- I guess people are embarrassed to come forward. Anyway, here's the post
{{ ...thought it was only me who got ripped by this company (GE credit card). I was not aware that QVC is also using GEMB for their credit company. I returned an item to QVC and they told me that the only balance I’m supposed to pay is the shipping. I was waiting for the new statement that shows the shipping balance but to my surprised I got charged for a late fee by GEMB just because I did not pay the minimum charge of the item I returned. What minimum charge are they talking about? I returned the item before I received their statement and late fee is more than the amount of the merchandise. This company is stealing our money. }}
