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...And they are still up to their old tricks. Lowes goaded me into taking a Lowe's credit card to get 5% discount on purchases in some in-store promo.

I've had the card about 6 months. I don't use it much. Last month, I had a whopping $24.18 balance which I paid, but the mail was a bit slow and the payment arrived a day late. I didn't charge anything this month so I was stunned to get a bill for $26.18!

So for the 1 day late payment, they charged me the exact amount I paid, $24.18 and then tacked on a $2.00 "minimum interest charge" as if charging 100% late fee for one day was not enough, they charged 7,000% interest! Its frankly hard to believe. I was sure it must have been a mistake so I called. I got an auto attendant who advised that I owed $26.18 in late fees and interest on a bill paid that totalled $24.18 It is frankly hard to believe.

So I kept saying "agent" and "representative" to the automatic attendant who ignored my requests and asked if I'd like to close the account. I replied "you bet your *** I want to close it" and cut up the card and sent it back the a check for $26.18. 7300% interest and penalities for one day late. Here's the clincher; they time bills with only 3 weeks to pay them but they mail them a week after closing so you might have 10 days to turn the payment around before this happens.

I have an excellent credit rating and will make sure that i never deal with GE (who owns Synchrony) and Lowes ever again.

What a rip off! There's a photo of my statement for any disbelievers.

Product or Service Mentioned: Lowes Credit Card.

Reason of review: Poor customer service.

Monetary Loss: $26.

Preferred solution: Full refund.

Lowes Cons: Sunchrony bank -who killed my relationship with lowes.

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I wince everytime I read these stories, I too found out NEVER NEVER fall for the "you can save _____ today if you only sign up for our credit card" line. On a very large purchase, in the thousands, I STILL find it hard to turn down, but I bite my lip, and take a deep breath, and say a loud and final "NOT interested".

Can't do it completely anymore, but I now realize how right my parents were to live without ANY credit cards at all. Eventually they had to call ME to help as they were no longer able to purchase an airline ticket or reserve a hotel room ! Too bad we've come to the point that to get the privilege of paying the true and honest price of an item, we HAVE to take our a credit card.

Being a loyal customer, spending thousands at a business year in and year out, does not qualify a person for a discount, for that you must take out a credit card. Very sad we encourage this, even with folks who will likely be harmed by additional credit cards.


7,300% Interest? What are you talking about. A late fee is not interest.


It's not their fault you wait till the last minute to send your payment. In the future send your payments when you get your bill and then you won't have to worry about slow mail.

Better yet, use your banks bill paying service and save on postage as well.

They have very right to charge the late fees as they are part of the agreement you signed when you opened the account. Too bad people don't take the time to read what they are agreeing to.

to Anonymous #1616384

Watch out now.... You'll be accused of "working for them" because you make sense.

to Anonymous #1616426

Anonymous you seem to have missed the point: The point was that the 7,300% annual interest rate is outrageous. How is it that the "late fee" is the exact amount of the payment that was made?

Most lending institutions will have some sense of reality and may offer forgiveness or something reasonable, but charging over 110% of the total charge for being late I think is pretty outrageous. I'm sorry that you want to be contentious about this but in your haste to snap off a quick indictment, you failed to collect the very basis of the note; they charged late fees that exceeded the entire bill by 10%. With regards to paying upon receipt, I actually did do that but I travel for work and was out for two weeks on the opposite coast, but of course that wouldn't matter to a finely tuned indictment machine like yourself who likely has people to handle such trivial matters.

Spend more time getting exercise in the gym than jumping to incorrect conclusions and your life may improve. But thank you for your comments and quick criticism of what was not the issue.

to Anonymous #1616607

Your photo just shows "fees" You fail to show the details of what the late fee was and what the interest was. My guess is that you had a late fee of $25.00 and $1.18 in interest.

A late fee has nothing to do with interest. It.

is a penalty for your not paying your bill on time. There aren't many credit companies that don't hit you with a rather hefty late fee if they don't get your payment when it is due.

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