Did anyone else get this notice from JCPENNY?

Ilovesunflowers · 10-21-2008, 10:53 AM

I got a letter from JCPenny credit services. The letter was to inform me that credit card interest would rise from 18 to 22 percent...

Ouch!...

COOL BEANS · 10-21-2008, 10:56 AM

geesh, 18 is a lot.

that's just ridiculous. I never get those department cards, except sears.

ica171 · 10-21-2008, 01:23 PM

It's not just department store cards. A lot of credit card companies are raising interest rates. I read one story on Consumerist where the guy's interest rate went from 8% to something like 21%. When he called to ask them why his interest was jumping so much, they couldn't give him an answer other than "the economy is bad."

guest1 · 10-21-2008, 04:53 PM

That's sickeningly high.

COOL BEANS · 10-21-2008, 05:53 PM

Quote:

Originally Posted by ica171

It's not just department store cards. A lot of credit card companies are raising interest rates. I read one story on Consumerist where the guy's interest rate went from 8% to something like 21%. When he called to ask them why his interest was jumping so much, they couldn't give him an answer other than "the economy is bad."

if one relies on credit cards to pay for bills, they're in deep do-do.

Anninca · 10-21-2008, 07:24 PM

I use credit cards, but pay off the balance each month so interest doesnt' apply. You would be surprised at the shenanigans of the some of the card companies to try to get me to hold over balances and just make payments. When I won't do that then they try to claim I didn't pay on time and charge a late fee. Thankfully, I have a service that shows excactly when the payment cleared. Sometimes it takes a phone call but I get the late charges deleted. If it just wasn't so darned easy to carry credit cards, I would never use them. Unless you pay them off each month, they are economic slavery.

10-21-2008, 10:53 AM	#1
Ilovesunflowers Platinum Member Join Date: Mar 2007 Posts: 2,039	Did anyone else get this notice from JCPENNY? I got a letter from JCPenny credit services. The letter was to inform me that credit card interest would rise from 18 to 22 percent... Ouch!... __________________ AKA Media

10-21-2008, 10:56 AM	#2
COOL BEANS Elite Royal Member Join Date: Sep 2004 Posts: 36,794	geesh, 18 is a lot. that's just ridiculous. I never get those department cards, except sears. __________________ ************************************************ ************ 7 1/2 years of no attacks on our soil, let's hope things don't change! Nov 2009, we were attacked in Fort Hood. The only CHANGE you're gonna have left after an obama presidency is POCKET CHANGE. obama has a history of making poor choices in friends. Politically they advance him but morally they bankrupt him. When government manages healthcare, government decides if you're worth treatment! Global Warming is a fraud! You create unnecessary obstacles for yourself when you're busy worrying about how much other people make. *****"I voted for Obama because I wanted change. ... I thought he'd bring it to us, but I just don't like the direction that he's heading," said John Triolo, 38, a registered independent who voted in Fitchburg.* We need people who can recognize the truth!-Thank you Massachussetts!!!

10-21-2008, 07:24 PM	#6
Anninca Platinum Member Join Date: Feb 2005 Location: San Diego, CA Posts: 1,014	I use credit cards, but pay off the balance each month so interest doesnt' apply. You would be surprised at the shenanigans of the some of the card companies to try to get me to hold over balances and just make payments. When I won't do that then they try to claim I didn't pay on time and charge a late fee. Thankfully, I have a service that shows excactly when the payment cleared. Sometimes it takes a phone call but I get the late charges deleted. If it just wasn't so darned easy to carry credit cards, I would never use them. Unless you pay them off each month, they are economic slavery. __________________ The only barrier to truth is the assumption that we already have it.

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10-21-2008, 01:23 PM	#3
ica171 Platinum Member Join Date: Jan 2007 Location: Omaha NE Posts: 4,163	It's not just department store cards. A lot of credit card companies are raising interest rates. I read one story on Consumerist where the guy's interest rate went from 8% to something like 21%. When he called to ask them why his interest was jumping so much, they couldn't give him an answer other than "the economy is bad."

10-21-2008, 04:53 PM	#4
guest1 Royal Presidential Member Join Date: Sep 2004 Posts: 61,906	That's sickeningly high.