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Nordstrom Bank / APR

1 p.o.box 85062Phoenix AZ, AZ, United States Review updated:
Contact information:
Phone: 800-964-1800

I've been a loyal customer of Nordstrom in the last 2 years. Never late on my payments and always paying above my minimum payment. Yesterday I got a notice from Nordstrom:
"...We recognize that times are tough and many of our customers are affected by what is happening in the current economic environment.
"Given this climate, we need to make adjustments to our credit card offering. Enclosed are the details of these changes."
The main change was to raise my APR from 19.90% (high enough) to 22.90% (usury).
Signed this notice are: Kevin Knight (chairman and CEO, Nordstrom Bank) and Eva Chadwick (president, Nordstrom Bank).
When I called Nordstrom customer-service, they said they must raise the APR because of what is called now a "credit card crunch" and because it's so hard to borrow money.
So much for Nordstrom's concern about their customer's tough times. We must tighten our belts but no such thing for Nordstrom!

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Comments

  • Ro
      25th of Nov, 2012
    0 Votes

    I'm so glad that I didn't get the chance to open an account with them. They put me through so much just to open an account that I gave up. Then when I fired off an email to them they called me back an promised that the woman that I had dealt with would be calling me back to open an account as I have good credit. That call never came. I will never use this bank nor will I ever go into their store. Thanks guys for great customer service...

  • Gu
      28th of Oct, 2014
    0 Votes

    Nordstrom stores and credit card went to hell. The stores refuse to accept returns whenever they can, or give rack price instead of purchase price and the credit card would not wave a $35 late fee for being 4 minutes, yes FOUR MINUTES late to make the payment!

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