Jcpenney - JC Penney credit card interest rate increase

If this is the bank that handles JCPenney's credit card services, I am very aggravated over the increase in the interest rate of this card.It was already ridiculously high and now it is being jacked up even higher which I feel is exemplifying greed and a lack of concern for the users who are already facing difficult enough times with this economy.

I personally will not be using my card any more unless I can pay off the balance the next month.

I also will be advising people to not apply for a JCPenney card or to use theirs if they already have one and I have been an employee of JCPenney who had to encourage people to apply for cards.Shame on you!!

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Mar 10 #956708 Greenville, Michigan

I have a credit card with them and I have for years. They have always charged me like 30-40 a month in interest. I always pay 100 or more, way over the minimum payment required, and I have never been late. Now, they have raised it to 70 a month!!! That's only 30 a month being credited to my account out of the 100 payment! my credit card has a high balance on it, but having a baby can be expensive at times. I asked them to lower the interest rates, and I never have before and all they said is that they could not lower the interest rates. This is BS! How am I suppose to pay off the *** card if 3/4's of my payment is now just for the interest? This is pure greed and I will be canceling my card, and I've had the *** thing for years! Don't get a card from them. They will *** in the end.

1 0 Reply

Nov 06, 2012 #565456


0 0 Reply
Tee Thompson

Oct 19, 2012 #557375

I just paid off a near $900 balance with JC Penny last week. I am so relieved.

0 0 Reply

May 25, 2012 #485864

I too am a long time customer of J.C. Penney. I have not used my card or shopped there since the interest rates went up. In a way I feel they did me a favor. Now I will pay it off. I have talked to other people that feel the same way.

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Mar 23, 2012 #454688

I have a JC Penney card also. I do agree the interest rate is high. In fact it is as high as most other department stores.
I do have a solution, however. Only buy what you can pay for at the time.
I charge on it all of the time so I can earn the Reward dollars then make sure I pay it off befor the due date. In fact, I often pay for my charged purchase immediately after purchasing at the register. This is something several of their clerks have suggested in order to not pay finance charges.
Don't blame Penney, or the bank for that matter, blame yourself.

0 1 Reply

May 15, 2011 #286507

Instead of using your credit cards to buy what you "want", Buy only what "need" with cash.
Act your wage people, if you can't pay with cash don't get it, period.
The top one percent of the country loves you, because you continue to complain about the rates, instead of making responsible financial decisions.
I hope this impacts at least one reader;).

0 1 Reply
Joseph S.

May 07, 2011 #283465

I told GE Bank that i am on ssi, and cannot afford to pay what JC Penney wanted me to pay so GE started to harrass me for the 134.00 dollars, and kept saying i'm behind on my payment JC Penney told me i can pay 114.00 dollars then turn around say i'm behind on the amount on the bill to me that is not fair for both JC Penney, and GE Harrassing me PS i was a good customer too. :cry

1 0 Reply
Joseph S.

May 07, 2011 #283461

JC Penney got GE bank to harrass me for $134.00 Jc Penney was suppose to take the amount i payed them so i would have less to pay them but instead they kept the ballance the same amount Ge was harrassing me to pay up they also destroyed the new clothes they was suppose donate. :cry

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Apr 01, 2011 #268484

JC Penneys rates are crazy not only am I getting rid of their card, I am no longer going to buy a thing of that store. Thats their reward.

1 0 Reply
Janice P

Mar 19, 2011 #262325

This card will be paid off and never used again!!!28.9 Interest rate, are they insane!!!!

1 0 Reply
kathy draper

Feb 11, 2011 #247374

I was checking my credit report they say i hsve a credit card with you i do not have one :(

0 1 Reply
kathy draper

Feb 11, 2011 #247373

I was checking my credit report they say i hsve a credit card with you i do not have one :(

1 0 Reply
JC Penney customer - JC Penney

Dec 28, 2010 #229090

I have had a Jc Penny Master card account for many years. What ever happened to the way they use to do business?? They increaced their interest rates to 28% for purchases and cash advances!!! Isn't Master card making enough money from the tax payers and consumers in this country?? Chec the Dow numbers if you really want to get sick. This is just pure greed!!! :cry :cry

1 0 Reply
Long time care holder -- never

Dec 05, 2010 #219003

I just closed my account after 20 plus years. Couldn't believe how high the interest rates are. So much for the JCP rewards program--looks like the only reward I was getting for customer loyalty is a higher interst rate. Another company praying on working class who can't always afford to pay with cash.

1 0 Reply

Dec 04, 2010 #218856

This is outrageous raising rates for new purchases up to 28.99% after years of using this card. NO MORE JCPENNEY RIPOFF CARD FOR ME.

1 0 Reply

Oct 13, 2010 #200253

I was not aware of the rate increase because I always pay off my credit card charges each month. However, because I travel, I was one day late paying my JCPenny credit card off in full - and was charged a $15 fee the next month. I will no longer shop at JCPenny as a first choice. Thank goodness there are other stores that carry much of the same brands and have a more cooperative and understanding customer service department. I am very disappointed in such a major retail player...that has chosen to play with people's pocketbooks at such a devestating economic time.

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Asking for giving a low rate o

Oct 08, 2010 #198453

Call JC Penney but transfer to GE Bank CS who owes the JP CC. Ask for a low rate as I am only getting SSI benefits and cannot pay a big monthly fee, GE BanK mean woman told me to STOP USING the card, I ask again, what can u do 4 me? She said, Return all the items you buy so your monthly pay got lowered. I asked again what can u do 4 me? She told me to closed the account. Well i am not going to close it but will return some of the items i already used as I still have all the receipt then stop using the card.. Fair enough for me.

1 0 Reply

Jul 11, 2010 #163202

The APR is high because it's a RETAIL CREDT CARD & also a private lable card. Just like all other RETAIL credit cards. Do your research! Retail cards are used for there rewards thats what you need to take advantage on. Only spend what you can afford.

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Feb 22, 2010 #117278

I agree, increase rates are crazy! I will have to keep an eye javascript:ac_smilie(':x')out to make sure they don't charge an annual fee or just a fee for not using the card as some credit cards are now charging, which I just read on a yahoo article today. If that is to happen I will cancel all the cards. I really don't need them I just have them for credit purposes. So if need be, I will cancel and pay cash as we always do anyway. javascript:ac_smilie(':grin')

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Nan Parker

Dec 09, 2009 #93206

I have not used my JC Penny card in some time and was not aware of the interest hike. I had planed to use my card for Christmas gifts since time are hard for me right now, but I have changed my mind. Thank you for your comments.

1 0 Reply

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