Macys — high interest rates
I have a Macys credit card, which I use only occasionally. I went shopping there yesterday, over the Thanksgiving holiday, and made several purchases, amounting to around $200.00. While there, I also paid my previous credit card balance in full, which was only about $33.00. When I looked at my Macys statement upon arriving home, I was SHOCKED to see this written on the statement: "A finance charge in the amount of $1.00 will be added to your revolving account balance if you choose to pay less than the full balance by your due date. If that happens, the actual ANNUAL PERCENTAGE RATE charged on that account is 51.84%". There were many folks doing their Christmas shopping while I was there and I'm sure they will also be shocked to discover that they have to pay for their purchases IN FULL or their interest payment will go to just under 52%...this is absolutely ridiculous, especially in these troubling financial times. Isn't there someone who regulates this type of thing?
More Macys Complaints & Reviews
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