Q Talk

[BalletBabe]

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@What can I do wrote:

Today I received a letter from Synchrony advising that mid-September, the monthly finance charge rate is increasing from 24% to 34.99% for my QVC card!!!!!!!!!!!  I believe the current rate of 24% is outrageous; however, having - basically - $35 of each $100 of my monthly payment going to SYNCHRONY BANK is beyond outrageous!!!  I cannot believe that this is even legal!  I wish QVC was using another bank and I could switch my account to that bank!  A reputable bank!  Synchrony is FAR from that!  Seeing my payments go up in smoke because of greed makes me crazy.  Doing this to QVC customers in this inflated econmy is criminal!  Synchrony clearly does NOT believe in customer service.

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Close it up.  That is nuts!   Most cards today give you money back.  If you like it , Then try to pay it off every month.   

[NYCLatinaMe]

@What can I do I agree this should be illegal if it isn't.  Predatory lending.  May violate Usury Laws.

[MrSmart]

The easy fix is to buy items on easy pay. I use my bank debit card as payment and then there is no interest charged!

[CalminHeart]

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@RespectLife wrote:

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@CalminHeart wrote:

High prices and interest are really just corporate greed. 

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Oh brother......The greed is on ME if I am buying things I can NOT afford to pay off Each and every month.

Not CC fault, not Synchrony fault,  not QVC fault, MINE!  LOL

QVC does NOT sell life saving necessities.

I'm sorry, but if my Q card is so high.....I am buying things I do not need, but want.

Totally understand those who need to use credit cards just to survive with food costs, gas costs etc.

This inflation and terrible economy is hurting us all.

However, you would NOT be using the Synchrony Q card to survive.

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I get what you're saying. My statement, though, is still true.

There is absolutely no reason to chastize the OP or anyone if they have a balance. You and I might be able to do what you say (even though I'm poor) but it's not reality for everyone.  

If you watch the market, corporate news, market related news, and the outrageous record breaking profits big corporations are earning since covid, you'd know high prices are purely corporate greed.

[CalminHeart]

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@THEY CallMe Mr Wilkes wrote:

Bashing "corporate greed" is the same old song sung everyday by the same singer.

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Do you monitor corporate news? market news? corporate profits? comparitive prices? corporate speak?  The only reason for the high prices we're seeing is greed.  

Just look at gas prices. The price per barrel is about the same as it was in the 80s but we're paying a whole lot more for it. At the grocery store, prices go up but the packages we buy are smaller. The same is true for most products.

[CalminHeart]

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@NYCLatinaMe wrote:

@What can I do I agree this should be illegal if it isn't.  Predatory lending.  May violate Usury Laws.

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While there definitely should be, there is nothing unlawful about a these crazy interest rates.  Back in the mid 80s, interests were crazy high but they finally went down. And it's happened before then.

It's a cycle based on many things. The most common.... 1. Politics because big corporations are huge donors to politicians who lwill then dole out corporate welfare, cut corporatel tax rates, etc. 2. Economy. 3. Greed. 4. People who don't pay their credit card bills.