So my questions is there is such a high interest rate on these card that for every hundred dollars I pay it comes out that I am only paying 14 dollars a month. Well if the stores are closed and I can not tell use the card how come I can not get a human to help me get the interest dropped or lowered?

  • Likely a different company manages all that on behalf of the store, the number on the back of the card or on a statement should still work for customer service with the card specifically.
    – Hart CO
    Nov 6, 2020 at 21:05
  • You say “only” $14 - are you expecting to pay more? I’m assuming this is the interest or minimum monthly payment, not the full principal.
    – Lawrence
    Nov 7, 2020 at 15:17

2 Answers 2


Many store credit cards aren't run by the merchant. They use a company that does nothing but run store credit cards. When the store ceases to exist because of bankruptcy, or merger, or being bought by a competitor there should be plan for what to do with these accounts.

In some cases the accounts convert to being a generic credit card run by the same financial company. Though there is a chance that they are converted to being a Visa, MasterCard...

Of course if there is a merger of companies, or the company is bought by a competitor, there should still be a plan. Many times they are converted to store cards for the new company.

Go to the website where you pay your bills and see try and find out what the plan is. You might find that they have a deadline before they convert the accounts. They may decide it is worth lowering the rate or forgiving some debt if it allows them to close your account sooner. Because unless you have a reason to use the card at your formally favorite store which offered you perks, you are unlikely to use that card, and won't become a long time source of income.

  • Most store credit cards are in fact Visa or MasterCard (or Amex etc.), just branded for the store. Nov 6, 2020 at 23:19

Why would they WANT to give you a lower interest rate? After all, they are making $86 for every $100 you pay on the card. Pay off the card.

If you simply don't have the cash, you should be able to get a loan at a much lower interest rate, or find a balance transfer offer on a standard credit card. I get them regularly. Typically* there's a 3-4% fee, and a 12-18 month zero interest period.

*I have seen ones with no balance transfer fee, but not recently. Worth doing a search, though.

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