Early Retirement & Financial Independence Community - View Single Post - Universal Default Credit Card Rates.....Again!!

Telly · 09-26-2006, 11:02 AM

Yesterday I got a fine print Change in Terms Update on my Sears credt card.* I never use the card except if there is something I need at Sears that using their card gives me a big advantage. Doesn't seem to happen since K-Mart took over Sears.

Anyway, the default rate is now Prime plus up to 22.15%. And as of Sept. 1, the default APR is 30.4 %!

I think that is the highest "legal" rate I've ever heard of!

09-26-2006, 11:02 AM	#9
Telly Full time employment: Posting here. Join Date: Feb 2003 Posts: 676	Yesterday I got a fine print Change in Terms Update on my Sears credt card.* I never use the card except if there is something I need at Sears that using their card gives me a big advantage. Doesn't seem to happen since K-Mart took over Sears. Anyway, the default rate is now Prime plus up to 22.15%. And as of Sept. 1, the default APR is 30.4 %! I think that is the highest "legal" rate I've ever heard of! __________________ -- Telly, the D-I-Y guy -- Two fools dancing on the hands of time