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Valued Contributor
Posts: 890
Registered: ‎10-31-2012

Q card raising interest rates (?)

Does anyone know if the Q card plans to raise their interest rates?

Honored Contributor
Posts: 17,892
Registered: ‎07-03-2013

Re: Q card raising interest rates (?)

I haven't received any mail on the topic.

Honored Contributor
Posts: 13,140
Registered: ‎03-09-2010

Re: Q card raising interest rates (?)

No word on any of my cards raising rates ---just as I certainly haven't seen any banks raising rates on my savings or money market accounts!

 

I'm thinking none of the companies will go there until the direction the fed is going to go during 2016 and that really seems up in the air right now.

Valued Contributor
Posts: 890
Registered: ‎10-31-2012

Re: Q card raising interest rates (?)

I just spoke with a QVC credit card CS rep.  She told me that there is an interest rate increase for all card holders - starting in April.

Esteemed Contributor
Posts: 5,404
Registered: ‎03-21-2010

Re: Q card raising interest rates (?)

When I realized how high the interest rate was on the Qcard I stopped using it for purchases & have paid off 99% of what I owed on the card .... In my opinion I think a lot of others have done the same because QVC is pushing the use of the Qcard by giving 3 easy payments on all items purchased with the Qcard!! ...If I want something I use my debit/credit card & it comes out of my checking account in one shot leaving me with no debt or lingering interest payments .... now I am more selective in what I purchase whereas before I just kept putting charge on top of charge on my Qcard!!!!

Valued Contributor
Posts: 890
Registered: ‎10-31-2012

Re: Q card raising interest rates (?)

I am going to take your advice, January121.  I should have realized that the rates would go up, once they started promoting flex-pays on the Q-card.  The interest rates on the Q-card far exceed other cards.

 

I will pay off my balance, which isn't that much, and stop using this card.  Thanks for the heads up.

Esteemed Contributor
Posts: 6,267
Registered: ‎01-22-2012

Re: Q card raising interest rates (?)

Since I don't have a Q card, I don't know what the interest rate is. Just curious, what is their interest? 

Honored Contributor
Posts: 19,278
Registered: ‎03-09-2010

Re: Q card raising interest rates (?)

I haven't seen anything, but this is the type of card with which you don't want to accrue interest because it's already insanely high.    I cannot think of a single reason that I would want to carry a balance on this card!

 

I have a Q Card because they sent me one many years ago, but I haven't paid interest on it for at least ten years, if not more.    I think it was probably somewhere in the 24 to 29% range.   That's crazy, but it's standard for store-type cards.

Respected Contributor
Posts: 4,435
Registered: ‎10-30-2010

Re: Q card raising interest rates (?)

I am surprised that people actually use them. I can just imagine what the interest rate is.

Esteemed Contributor
Posts: 7,683
Registered: ‎03-17-2010

Re: Q card raising interest rates (?)

I had a Q-Card years ago and paid it off and won't go there again.  If I remember right it was (at that time) in the low 20's.  I am not surprised in the least that after the huge push for Q card sign ups that interest rates would go up this soon after the promo.....

 

 

*~"Never eat more than you can lift......" Miss Piggy~*