Q Talk

[mommytwins]

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!!! 

[Kachina624]

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.

[CoffeeNut]

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

[BluestarFL]

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!

[mommytwins]

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! 

[azgal]

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. 

[loriqvc]

@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. 

[CoffeeNut]

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

[mommytwins]

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)

[LLYinNY]

You can borrow money cheaper from the Mafia. Lol.