Rat Shack Cruddy Card Rip Off.

[cluless]

In August I had to buy new batteries for my home phones so I go to rat shak. They convinced me to get their credit card to receive a discount on all battery purchases. Well I said OK. Anyhow I was late in sending my payment of $27.61 (my bad) so they billed me an ADDITIONAL $29.00 plus $1.50 Finance charge, When that bill came in, I didn't open it since I didn't think that I owed them money (my double bad). Well now I owe them an ADDITIONAL $29.00 (late fees on the late fees) plus $1.50 Finance Charge. SO I get the honor of paying them $61.00 in Late fees and finance charges for a $27 purchase that I paid just a few days late. Organized crime should take a lesson here.

[oldbuckster]

Radio Static strikes again...........some discount............EH!!!!!!!!!!!

[dtel]

" Organized crime should take a lesson here "

Sounds like they are doing the financing for rat shack, better pay it or they may pay you a visit !

[oldtimer]

Credit card companies are organized crime.

[Amy]

Hey Clu,

I feel your pain. Last year, I used a clothing store's credit card to pay for a couple shirts. I've had this card for years, and rarely use it.. Afterwards, I never received a statement, which I don't when my balance is zero, so I subsequently forgot all about the purchase.

A few months later, the collection calls started coming in, which I ignored because I didn't recognize them on my caller ID (Obscure Bank USA). So when I finally did answer, the collection guy said I owed them X amount (with probably $50 worth of late fees)....so I finally remembered and felt really bad ... paid it immediately over the phone. My bad. I apologized, and thought it was over. Wrong!

I went back to that store recently, and bought a bunch of summer clothes--over $200 worth, and when I went to pay using that store card, it was denied. The clerk actually PUT ME ON THE PHONE--stretching the really long twisty cord over the counter--with the credit card company while a line of people waited behind me (with Steven trying to wander off, no less) to tell me that because my last payment was so late, they decreased my credit line from $800 to $100. Well, so nice of them to let me know in advance!! So I said, "fine," hung up, and paid with something else.

About a month later I got a letter from the same bank telling me that because my credit with them is so bad (when the rest of my credit is spotless), they denied my credit line increase....WHICH I NEVER EVEN ASKED FOR! So not only did they humiliate me in the store, but also by mail....AND ran an unrequested credit check on me to boot! And this after I'd been a good and loyal customer for over 10 years!

Needless to say, I wrote them back telling them to cancel my card. Which I don't think they have done to this date.

Sorry, didn't mean to rant that long.

So how are those $60 batteries workin for ya? []

[Islander]

I don't want to sound rude, but I've always thought those store credit cards were for suckers. Most of the cards charge a rate of 28.8% and some of them calculate the interest in a way that works out to nearer 32% per year. People always say they took the card for the convenience and that they always planned to pay in full every month, so the high interest would not apply to them. But it often doesn't go quite as planned, and the shop gets rich while the customer grinds her or his teeth.

Adding to the non-necessity of store cards is the fact that most shoppers already have one or more bank credit cards, some with rates well below 10%, so why even bother with those money-grabbing store cards? Those little incentives offered with them, like minor discounts and so on, end up costing a lot.

[Amy]

Not rude, I agree. That's why I never carry a balance on them and rarely use them. I learned my lesson quickly []

[Arky]

You guys/girls may want to check your credit reports.

[colterphoto1]

I did the same with a large electronics retailer. Had some big purchases like iPod, hard drive, dvd burner. Got the card so I could get the discount coupons which amounted to 10% of my purchases. Heck that is a free DVD for about $200. Got some free DVD's and CD's, then paid the bill late and was hit with $35 late fee for two days.

That card is not 'in my wallet' any more.[:@]

[dtel]

Not quite the same thing but,

About 10 years ago we decided to join a gym, after driving buy many times and looking at the banner outside saying $19.95 a month. We signed up and went for about 8 months and stopped going, it turned out to be inconvenient being across town.

A few years later we checked our credit and seen a charge for the balance, when you signed up they financed a year and that was what you paid at $19.95 per month. The only thing in the paperwork was stating they were not responsible if you hurt yourself or there was a problem with the stress test the gave you before you could start. I guess we were never contacted about the balance probably because it was so small, but they put it on our credit report.

[fini]

Don't pay it until you call them and plead your case.  If that doesn't work, sick kitty on 'em...

[wuzzzer]

Um, guys, there's a reason they put a payment due date on your bill. Its so you make it on time! You get plenty of advance notice as to when your payment is due.

[Amy]

Um, guys, there's a reason they put a payment due date on your bill. Its so you make it on time! You get plenty of advance notice as to when your payment is due.

It's hard to refer to a date on a statement when they don't send you one! But I do blame myself for not remembering that I even used that card. It's not easy running errands around a mall with a two-year-old in tow, however. I'm pretty sure I was more than frazzled that day. Regardless, I should've paid more attention to my receipts later. Lesson learned.

[MojoRisen]

ALWAYS, ALWAYS, ALWAYS call and dispute these charges and plead your case.

I have excellent credit but many times will open a card to take 0% for x months or 10-20% off my first purchase.

Since I don't use much on credit cards, I've forgotten these from time to time. In every instance, I have gotten the late fees and services charges removed. Always call and give a story!! I would not have paid the 61.00. They would rather you keep the card open for a long time than to get mad and close it.

[Tom Adams]

Um, guys, there's a reason they put a payment due date on your bill. Its so you make it on time! You get plenty of advance notice as to when your payment is due.

I'm with you on this one. I can see Amy having a case, but when you get mail and invoices and billing statements and whatever and just ignore them, personally I think you deserve what what you got coming to you. Put yourself on the other side of the fence. Suppose you owned the bank and had $20M in outstanding loans. Bet you'd look at it differently. Besides - the obscene rates they charge are so they can cover their monthly/quarterly/yearly losses when folks don't pay their debts on time (or even at all).

OTOH, the credit card companies are their own worst enemy. They send out credit card applications like the Giddeons distributing Bibles. Personally, there should be a law forbidding them from offering credit cards to College students. Sadly, all the free-loaders and irresponsible debtors ruin it for all of us fiscally responsible folks.

[LarryC]

Um, guys, there's a reason they put a payment due date on your bill. Its so you make it on time! You get plenty of advance notice as to when your payment is due.

True enough, but some credit card companies have a trick: they set their due date a week or so before the end of the month. People on monthly paychecks who get their bills in mid-month like to wait until the first of the next month to pay -- but that will mean interest payments on a balance they may have thought was paid in full. My (respectable) credit card co's don't do that, and payments made on the first of the month are therefore always on time. I got rid of a card that pulled that sneakie and refused to change the due-by date.

[kaiser SET say]

True Wuzzer but you have to admit they are in this credit game to make money not just collect what's owed!

As Larry said decent card companies work with their customers not against them[^o)]

I have not owned a personal credit card since my divorce in 1984, if I can't pay cash I don't get it[] (now I have to save for a few months sometimes but it always makes it just that more enjoyable when I can pay for it outright[])

Auto's are all I finance and I hate paying interest on those[]

[Daddy Dee]

Don't pay it until you call them and plead your case. If that doesn't work, sick kitty on 'em...

Fini's
got a good suggestion here. There has been a time or two I've gotten a
customer service rep to take off a late fee by making the case. On
occasion I've had a rep who didn't seem to know much and when I told
them it would make me happy if they could fulfill my request, they
said, "oh, OK, I can do that."

Thanks for the heads up on the Rat Shack. That is one poor way to do business and earns less than zero good will.

[ARPRINCE]

I always track down our credit card expenses online and pay on a timely manner. I have missed a payment deadline or two but have always called customer service and was able to reverse the fees. Ofcourse, reversals are always based on your payment history but you may want to try it just the same.

Anyway if you forgot about this, your state may have a law for you to be able to get your CR free yearly (Colorado, Georgia, Maine, Maryland, Massachusetts, New Jersey and Vermont). Check the link below.

I'm in NJ and I get one from the 3 credit bureaus in rotation every 4 months (ex. Jan@Transunion, May@Experian, Sep@Equifax). You can actually get them all at the same time so its up to you. Then you can have it checked again after 12 months.

ANNUAL CREDIT REPORT