When the Federal Reserve dropped interest rates to 0% earlier this year, the rates on many consumer loans followed suit. Some store credit cards have proven to be the exception.
What’s more, multiple retailers offer store cards that come with an industry-high interest rate of 29.99%, unchanged from a year ago:• Piercing PagodaA spokesman for Signet Jewelers — which owns Sterling, Jared, Kay, Piercing Pagoda and Zales — noted that the stores offer “a broad range of financing alternatives.”
See also: ‘Zoom-worthy’ pieces like earrings and necklaces are selling though jewelry is expected to take a COVID-19 hit in 2020
It’s credit card rates at sky high percentage that keep the middle class and poor from moving up!
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