I got rate jacked to 26.15% because I had one late payment. I've gone 6 months on time, and pay 150-200% of min. payment. Called Sears to lower rate, rep. told me that on month 7 statement I'll see the a lower rate, he said it would be 21.5%. BIG DEAL :twisted: :twisted: I asked for 18.5%, rep laughed a little, he said the lowest anyone can get on the store card is 21.5%. Anyone have a lower % rate?
I've got 21.9% and I've had the card for 8 years. Most of the store branded cards do have outlandish interest rates. The only time I use mine is if I know I can pay it off at the end of the month or there's special 0% financing involved with the purchase. Otherwise, I'll just use a visa/mc/amex where my highest purchase rate is 7.99%.
