I opened my statement, to find that we are being charged more interest than the payment, from Sears.
Jean
Magnolia, Ohio U.S.A.
4 Updates & Rebuttals
Dave
Rumney, New Hampshire, U.S.A.
Could be that nasty fine print!
#5Consumer Suggestion
Tue, February 28, 2006
I also have a Sears card which I have stopped using on principle. I was a couple of days late with a full payment and was hit with a hefty late fee and interest charge (my own fault). My credit is good enough that a call would most likely have erased or credited the charges, but I let it go as I have other cards to use.
I was just sent an offer from the company, which I tossed, but I did notice in the Terms (fine print) that a late payment or other issue would raise the APR to the 31% (+/-) you mentioned. That may be what happened to you.
Denny
Honolulu, Hawaii, U.S.A.
Again, you dont provide information pertinent to your situation
#5Consumer Comment
Tue, February 28, 2006
1) what is your creidt like? it has to piss poor to have such a high interest rate. My Sears card is at 12% , because I HAVE GOOD credit
2) OF course the payment is going to be high, With such high intrest rate (becausey ou probably have piss poor credit), you are obligated to pay a minimum. NOthing prevents you from paying more than that.
And what do you mean its "being charged more interest than the payment". that makes absolutely no sense.
YOUR balance is what? over $5,000. To have a minimum of $232 at 31% interest, you'd have to be well in debt to sears.
Again, you do not provide any information so how canit be a ripoff? If you have bad credit, your interest rate is going to be high, because you are a high risk person to have credit in the first place.
Jean
Magnolia, Ohio, U.S.A.
Sears
#5Author of original report
Tue, February 28, 2006
I am paying 31.49% as I was saying above, I meant my interest is more than what I have to pay. If I don't pay more than I am going to be adding $232.10 will be added onto my balance.
Denny
Honolulu, Hawaii, U.S.A.
Love how people say "ripoff" without providing any type of proof or explanation
#5Consumer Comment
Mon, February 27, 2006
So, what are you saying? What is your interest rate? What is your balance? Are you talking about minimum payment due? Are you joking?
4 Updates & Rebuttals
Dave
Rumney,New Hampshire,
U.S.A.
Could be that nasty fine print!
#5Consumer Suggestion
Tue, February 28, 2006
I also have a Sears card which I have stopped using on principle. I was a couple of days late with a full payment and was hit with a hefty late fee and interest charge (my own fault). My credit is good enough that a call would most likely have erased or credited the charges, but I let it go as I have other cards to use.
I was just sent an offer from the company, which I tossed, but I did notice in the Terms (fine print) that a late payment or other issue would raise the APR to the 31% (+/-) you mentioned. That may be what happened to you.
Denny
Honolulu,Hawaii,
U.S.A.
Again, you dont provide information pertinent to your situation
#5Consumer Comment
Tue, February 28, 2006
1) what is your creidt like? it has to piss poor to have such a high interest rate. My Sears card is at 12% , because I HAVE GOOD credit
2) OF course the payment is going to be high, With such high intrest rate (becausey ou probably have piss poor credit), you are obligated to pay a minimum. NOthing prevents you from paying more than that.
And what do you mean its "being charged more interest than the payment". that makes absolutely no sense.
YOUR balance is what? over $5,000. To have a minimum of $232 at 31% interest, you'd have to be well in debt to sears.
Again, you do not provide any information so how canit be a ripoff? If you have bad credit, your interest rate is going to be high, because you are a high risk person to have credit in the first place.
Jean
Magnolia,Ohio,
U.S.A.
Sears
#5Author of original report
Tue, February 28, 2006
I am paying 31.49% as I was saying above, I meant my interest is more than what I have to pay. If I don't pay more than I am going to be adding $232.10 will be added onto my balance.
Denny
Honolulu,Hawaii,
U.S.A.
Love how people say "ripoff" without providing any type of proof or explanation
#5Consumer Comment
Mon, February 27, 2006
So, what are you saying? What is your interest rate? What is your balance? Are you talking about minimum payment due? Are you joking?