Suggestion Box

[Moneypenny220]

Not sure if everyone knows or if mine is different but the interest rate on my Q-Card is 33%!!!!  This is terrible.  Does anyone else have this kind of interest rate?  I have a good credit rating, so I am just curious?  Why would I use a Q-Card when I could use my credit card that has 18% interest?  Doesn't make any sense to me. Not sure what benefit I am getting. 

[haddon9]

No interest if you pay it off each month.

[THEY CallMe Mr Wilkes]

If you perceive no benefit,  then obviously use another form of payment!  Your personal credit rating doesn't determine the rate that Synchrony charges.

EZ-Peasy, as they like to say, to employ other payment forms.

[We rescue cats]

It's been sky high for while, but like @haddon9 , we pay the full balance every month. One of the great benefits of the multiple payments way that they bill.

[Kachina624]

YES, I think people here who've read the boards for a period of time, are aware of the high interest rate at Sychrony Bank. It seems to escalate everytime someone mentions it. I'm guessing it's the same for everyone.

[FranandZoe]

I use EZ pay and pay the balance every month.  No interest.

[Sooner]

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@Moneypenny220 wrote:

Not sure if everyone knows or if mine is different but the interest rate on my Q-Card is 33%!!!!  This is terrible.  Does anyone else have this kind of interest rate?  I have a good credit rating, so I am just curious?  Why would I use a Q-Card when I could use my credit card that has 18% interest?  Doesn't make any sense to me. Not sure what benefit I am getting. 

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Q isn't big on benefits for buyers.  Neither is their card.  Q doesn't treat customers well at all now. 

[Icegoddess]

The interest rate on store cards is almost always higher than major credt cards even if the backer is a major credit card company.  For example, I've had a Sears card for years even though we no longer had a Sears.  Many years ago, it was change to a Sears Master Card backed by Citi.  Now, it's just a Citi Thank You Master Card.  I got a letter today offering me a 0% interest rate for a year after which it would return to 33%, so even though the card is no longer associated with Sears, it still has the store card interest rate.  

I never carry a balance on it, so it really doesn't matter.  

[geezerette]

It seems to me when I had multiple store cards they all had interest rates higher than bank credit cards.

[THEY CallMe Mr Wilkes]

QVC is neither a bank nor a financial institution.   They don't set the rate on the branded cards issued by banks with which they partner. 

As others have noted, the rate is really not that much different than other department store branded cards.

Of course they love to see purchasers use the card and carry balances;  QVC Group shares in a portion of the collected interest.