Sportsmans Wharehouse interest rate

[Razor]

Last Sunday I stopped by the Lacey (WA) store and fondled a Pedersoli Sharps.:-D
TIC, I asked about a layaway.[smilie=1:
"We don't do layaways anymore, but we have our own VISA card now"
"We give approval in 5 minutes "
"You walk out with the gun :idea:
OK
On the way out, I picked up an application to scope out the rates...
Which are :
11.25% for chargin' things
19.xx% for cash advance
31.75% for being late !!:shock:

But get this, the verbage states that if you're late on any OTHER "bill", that gets reported to the credit agency, THEY (SW) can charge you 32% 'cause you were late on the Sears paym't....:holysheep

I DON'T FRIGGIN' THINK SO !!!

I tore up the appl...:takinWiz:

Razor
:castmine:

[mike in co]

well its most likely not thier card..its got their name on it, but its some bank. the bad news with this time of card , you have no pull with the orignal company you buy from.
some bank...like the anti gun citi........
get another app and look again.
and yes there evidently no usery laws in this country any more.
there once was a limit at 20 percent.....but i have seen 24.99, and more.
its why credit is so easy to get.
the classic example is sears( THEY DONT OWN THE CARD).buy an $1800 refigerator, and pay on thier plan.........you will pay longer than your home loan.....
yes i used to be in finance/home loans/debt management.
miek in co

[Buckshot]

................Gee Razor, you weren't supposed to read that stuff :-)

.............Buckshot

[pjh421]

My personal rule is (aside from a house or car) if you don't have the cash for it, wait until you do or forget about it. I'm trying to get to where that will include cars too. I have cards but I don't use them for loan purposes. If you follow this philosophy you will wind up with everything you need and a lot of what you want.

Paul

[carpetman]

There is a rule of 72. If you divide the interest rate into 72 thats about how many years it takes to double money. For example 18% goes into 72 4 times so in 4 years money doubles at 18%.. That probably doesnt sound like too big a deal. Ever hear how much 1 penny is if you double it 30 times i.e 1,2,4,8, 16 32,64,$1.28,$2.56,$5.12,$10.24,$20.48------ that was only 12 doubles---by the time you get to 30 it is HUGE as in millions. So at 18% it takes 120 years to get 30 doubles. In effect you are paying interest at the rate that each penny is several millions every 120 years---you wont pay for 120 years but you'll pay several---it's HUGE. Oh and BTW don't get confused and spend the night in the wharehouse.

[willwork4ww]

The interest rate in Wharehouses is usually quite high, by the hour I think. Sportsman's Warehouse on the other hand.....the cards are throught U.S. Bank. Don't have a clue about the interest rate, I think it was an introductory 9.9 when I got mine, but I've never paid a cent of interest to a CC company. You get the Sportsman's card to earn 3 points for every dollar you spend in there. That's alot in a year's time. You don't get one to buy crap you can't afford. Just pay the balance every month and it's a points earning debit card. :-D

[crazy mark]

I read that a lot of cards have homes in SD as they changed the Usery to get the banks to run the real accounts from them. The payment centers are usually in other states. Buyer beware....

[JIMinPHX]

Easy credit always has a catch. Can you say sub-prime mortgage mess? It was the same type of thing. Lenders giving predatory interest rates & foreclosure standards to people without doing much of a background check on them. If you had good credit & could go elsewhere, you got a much better deal. If your credit was garbage, then you got forced to deal with those shylocks.

[trooperdan]

I just had occasion to "TRY" to order a bayonet from SG, I was denied! No bayonets to NC! I have a C&R FFL and can order guns & ammo as long as my credit card holds out but not a bayonet from SG! I called to ask why, was told "company policy, according to legal dept, might not be legal to recieve in your state". But I can order all the hunting knives I want!
I guess I hate stupidity! I know of no restrictions on bayonets in NC; I plan to write the AG for an opinion and I'll request a cite from SG for their reason.. wonder how I'll do with each?

[Jim]

...I don't go to Sportsman's Warehouse any more. The headquarters in Morgan, Utah has a massive reverse search engine they use to search the internet for all things sportsman's warehouse.

Hey, Morgan, y'all gettin' this?