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Store credit scams?

G

Goal Setter

New member
I noticed more and more stores are offering their own credit lines. Some of them sound good until you read the fine print. It seems like they are trying to make people go into debt and trap them or something. Some of the interest rates are insane!
 
Yeah always some kind of fine print you won't like! Why have a line of credit only good at one store anyway, when a card can be used almost any place.
 
I had a Bestbuy card in the early 2000's and those scammers changed the policy for their cards on me without telling me and I ended up owing them 60% interest on a $600 TV!
 
I have only ever had one store card and that was when I was 18. It was my first card and I ended up losing my job 2 years after and having to let the debt go on it. Big mistake. They still send me letters even though I know legally, they can't do anything.
 
Britanica said:
I have only ever had one store card and that was when I was 18. It was my first card and I ended up losing my job 2 years after and having to let the debt go on it. Big mistake. They still send me letters even though I know legally, they can't do anything.
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They really hunt you down after that many years? Yikes! My brother recently let his Bestbuy card go as he is having money issues. He said he only owes them $900 and they won't do anything about such a small amount. I bet they will bother him for it for years like what happened to you!
 
This is one thing I never did so I wouldn't know. I just know I was told by my uncle to never trust them at a young age so I never bothered. Sure, some give great rewards but it isn't worth it if they scam you out of money.
 
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