As for BrandSource, which is a network of locally owned retailers (i.e., furniture, appliances) whose customers can use the card for purchases, the 30.49 percent is the only rate offered, according to its customer agreement.
However, like some other cards with higher rates, the BrandSource card comes with a deferred interest offer, Schulz said. If you don’t pay the balance in full during that no-interest window, you’ll end up paying 30.49 percent interest on the full purchase price you originally charged. For a $1,000 appliance, you’d get hit with $304.90 in that situation.
“Suddenly that deal doesn’t look so good,” Schulz said.
BrandSource did not respond by publication time to a request for comment. Nor did Citi, which issues the BrandSource card.