Q Card Interest Rate - Page 3

NicksmomESQ · ‎08-19-2014

@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 If you opt out it will affect your credit rating. It's best to either pay off your balance monthly or simply not use the card at all.

Nightowlz · ‎03-11-2010

34% interest should be against the law. Your not borrowing money from a loan shark.

Never paid anything near that. Have not paid interest in years. Never have paid a late fee or any type of fee.

elated · ‎06-09-2010

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

FYI, usury is spelled this way. You know people have choices, it is not mandatory. Many people are in serious debt and have fallen behind on payments. People are defaulting on car loans. The inflation has hurt many consumers. Credit card debt is a black hole.

Suzeecat · ‎05-05-2010

@NicksmomESQ wrote:
@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 If you opt out it will affect your credit rating. It's best to either pay off your balance monthly or simply not use the card at all.

I'm not sure if the credit card companies still do this, but if you have an open account with a zero balance and don't use it for a while, they will close your account, which also dings your credit score. I have a couple cards that I charge something to once or twice a year, then pay it off the next day, just to keep the account open.

THEY CallMe Mr Wilkes · ‎06-29-2016

I have very little sympathy for those being taken in by department store card rates of 30%-35%.

It's been discussed here before, but I am on the other side of high interest rates, rarely mentioned in the popular press.

I have no adjustable rate mortgage, carry no credit card balance and don't need a new student loan.

As a life long saver, I have locked in terrific CD rates and hope they stay at this rate as long as possible.

Loving these 5%-5.3% rates that are still available!

Indications are that rates may remain here, or a Fed Rate rise is even on the table!

RespectLife · ‎02-27-2012

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

What they shoud NOT do, @MagnoliaMs , is purchase things they can't afford.

Running balances on any credit card is dangerous. High rates on all cards is nothing new.

We are NOT purchasing life's necessities from QVC, HSN, Talbots or any other retailers such as these.

It is MY fault if I am charging things I can't afford, NOT the banks.

PamHeet · ‎04-13-2023

Most store credit cards have terrible interest rates, but QVC’s does seem particularly bad. I’m not a big fan of store-specific credit. The only time I’ll use them is when I have to replace an appliance, computer or something else expensive and I can take advantage of their special financing to spread out the cost.

wagirl · ‎03-09-2010

All credit card rates are outrageous!! I sold my house in 2021 and first thing I did was to pay my cc's off --- have only one with balance on it now and that one will be gone in Sept--that one has a 0% rate if I do that by then. That one is my cat care card---she has been been costly these last couple years---

Sooner · ‎03-10-2010

@elated wrote:
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.

@elated Because some people don't have extra money and when things come up that they can't pay for all in one payment.

It's those people who suffer most. Not people who happily buy stuff from QVC all the time. Some are just trying to get by and don't have a choice.

My heart goes out to people who are working and trying so hard to make it. Not so much to those finding it easier to take money and not work. But that's a whole other issue. . .

elated · ‎06-09-2010

@Sooner wrote:
@elated wrote:
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.
@elated Because some people don't have extra money and when things come up that they can't pay for all in one payment.

It's those people who suffer most. Not people who happily buy stuff from QVC all the time. Some are just trying to get by and don't have a choice.

My heart goes out to people who are working and trying so hard to make it. Not so much to those finding it easier to take money and not work. But that's a whole other issue. . .

I feel bad for people that are struggling to get by and credit card companies are making it extremely difficult. With high interest rates, it makes it impossible to get ahead if you are unable to pay statement balance in full.