09-24-2009 02:09 PM - edited 09-24-2009 02:12 PM
I just received an email from Saks saying there is a change of terms with my account. I called customer service and they informed me about a change with payment due dates, late fees and a change of APR. I didn't pay attention to the details about the payment due dates and late fees because I pay my bills on time. I wanted to know how much they are going to rate jack me. My current APR is 22.9% which has a 7.5% prime rate...WTF? It is going up to 20.74% + prime = ~28%
I thought the prime rate was 3.25%
09-24-2009 02:16 PM
09-25-2009 11:43 AM - last edited on 09-25-2009 04:06 PM by Lel
I apologize but our associate gave you some bad info and I would be happy to explain if you would like to contact me privately and I am sorry for the confusion.
Sr. Coordinator, Customer Service
Saks Fifth Avenue
1 888 327 3313
[email address removed]
[Sorry, I know you're trying to be helpful, but posting of real names, email addresses, and telephone numbers is not permitted on the FICO forums.
If any member would like to contact this person, you may do so via the Private Message function. The phone number left in place is to a Customer Service center for Saks. The poster of this message appears to be legitimate, but just be forewarned that Fair Isaac and myFICO.com cannot be responsible for any personal information that you choose to disclose via Private Messages or other communication. Thank you for your understanding. - Lel]
09-25-2009 05:23 PM
I contacted Saks customer service today, and was informed that I should be receiving a letter regarding this issue sometime next week. The representative told me that this change of terms will affect all accounts. I've had a Saks account since 1978.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.