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Macys / bogus "finance charge"

1 United States Review updated:

I received a bill from Macy's that included a $2.64 finance charge, although I had made the earliest purchase shown on the bill only three weeks ago. I called them and they said that this was a "provisional" finance charge, and I could subtract it from my payment although it was included in the amount shown as the balance due. Many if not most consumers would pay the balance due without realizing this charge was added. This is a straight up RIPOFF by Macys!

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Comments

  • Jb
      21st of Jan, 2010
    0 Votes

    The latest balance on my Macy's credit card is for $376.94, of which $4.47 is for an "Initial Interest Charge". What is an "Initial Interest Charge"? I pay my balance in full and on time every month. Is it legal for Macy's to add this preemptive charge? Sounds like a rip-off to me.

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