APR Increase
Has anyone received a letter regarding upcoming APR increase of 34.99%?
Also will be charging $1.99 for paper statements.
I have been getting tired of HSN. Now I know it is time to part ways.
-
Synchrony is doing this with all accounts. I agree congress needs to get involved to stop this.
-
I am hoping that other customers will also take note of this ridiculous increase.
-
I got the letter yesterday it is absurd the interest rate and charging $1.99 for paper statement I always pay off my bill every month but now I am paying off every easy pay amount and never will use the HSN card Good bye HSN credit card
-
I am going to do the same thing. I will just use my bank Visa from now on, because I can still use easy pay and get 2% back from the credit card.
-
Exactly! Use a Visa or Master card to make your purchase. I am certain that many company’s cards operated by Synchrony will be cancelled. I have already cancelled two other cards run by Synchrony. When i receive the HSN letter I will cancel it too. And Yes, I will use a card where I receive 2% so it will actually work better for me.
-
-
I just looked online and yes they did increase it to 34.99 interest rate . I pay my card every month, but this needs to go to congress as this high of an interest rate should be illegal. No one would be able to pay off their balances ever if they didn’t pay the whole monthly amount. That is insane!
-
Synchrony stopped sending me paper bills without asking many months ago. I use my HSN card only when there are irresistible offers available only if using it and even then sometimes hesitate to order the discounted item. If HSN so badly wants people to use its card, perhaps they should consider using another bank to handle it. I pay my bill In full so thankfully the interest rate raise doesn’t affect me; I can only imagine how hard this will make it for those who do.
-
I have not received the increase letter yet from HSN, but I expect it soon. I have 2 other credit cards that are handled by SYNCHRONY BANK and I have received the increase letters for them, so today I canceled both those credit cards. For me it is not about the higher interest because I pay on time and never receive an interest charge, but I am totally against the $1.99 “paper” fee I would receive with each paper bill. When i buy paper for my computer it costs a couple of pennies per sheet, so why would I want to pay for a paper bill, not to mentions that one bill a month would add up to almost $24.00 a year – it’s like a tax! It’s not the money, it’s the principle. I realize if I go to electronic statements that fee is waived, but I do not pay bills or open statements on computer or phone, because I used to do it until my info was stolen and now that email address is on the dark web, and also someone used my card to buy dinner and stuff in Texas where I have never been, so I refuse doing anything with money on the internet. Anyway, when I get the letter for my HSN account I will cancel the card. If I want to buy something I’ll use Master Card for it and get that statement without a paper fee!
-
-
To Cyanne: Paying your bill by the due date has nothing to do with interest not being owed.
-
I pay the “full balance” when due,,on time, on my credit cards, so I don’t get charged interest. I am careful not to over buy and make sure I can keep the charges per month reasonable. However, I am not going to be pushed into electronic statements because SYNCHRONY is going to charge a “paper fee” of $1.99 with each statement they send. That could add up to about $24.00 a year! I feel that’s unacceptable as a sheet of paper bought in large quantities costs about 2 cents a sheet. I do not do anything concerning credit cards or money via the internet. My info was already stolen by hackers who hacked a large responsible well-know company – took my card info and now my info is on the dark web. Of course I had to close that card down. Sorry SYNCHRONY – any cards that you pull a paper fee on will be canceled by me and most likely other shoppers and the companies you serve will lose sales.
-
I changed all my flex payments to another card. I will not pay to get a paper statement.
-
-
I did NOT get a letter about this for HSN yet, but I am expecting one because a already got this notice for 2 other company’s charge cards. It is SYNCHRONY BANK, who handles many companies charge cards, and it is Synchrony making these changes. I do not mind the high interest rates because when you use the value pay system and pay on time you never get interest. I always pay on time so I personally don’t care about this increase. However, I do object to a $1.99 charge each month for a paper statement. So a bill every month will add up to about $24.00 a year for just paper. Paper charges are ridiculous and I will not pay for paper! It’s not even the money, It’s the principle about paying their paper fee when a whole pack of paper I buy for my printer only costs a few pennies a sheet. I think it is their way of trying to get us all to pay by electronic means. I do not do anything with money via phone or computer because my info was already stolen once and so I no longer pay or look at billing info on the internet. Therefore, I will be canceling my cards from Synchrony as I get these notices. If I want to buy something on HSN, I can use a Mastercard or Visa. It’s really the principle here – I won’t pay for a paper bill. I will only use a charge card that doesn’t charge a paper fee!
-
34.99%?! Thats insane!! No I didn’t get any notice like that, but sure glad I just paid my bill off, and now know to keep it down.
Conversation Info
Posted in Talk Among Yourselves
14 Replies
05.30.24 3:01 PM
8 Participants