Tell Retailers: Stop Charging Exorbitant Interest Rates

Retailers across the country are charging consumers excessive interest rates on store-branded credit cards, with some exceeding 30%—the highest on record. 

These sky-high rates are trapping hardworking families in cycles of debt, making it harder to pay off balances and forcing them to spend even more on interest charges. 

Even as the Federal Reserve has begun cutting rates, retailers are prioritizing profits over the financial well-being of their customers.

Store credit cards are often marketed as a way to save money at checkout, but they come with a hidden cost: predatory interest rates that can derail a family’s budget. For many, these cards are the only way to cover essential purchases, especially during the holiday season. Yet, instead of providing relief, these interest hikes make it nearly impossible for families to catch up, leaving them buried under mounting debt.

The impact is devastating. A $1,000 balance on a card with a 30% interest rate could cost consumers hundreds of dollars in interest annually, making it harder to save, invest, or afford basic necessities. Retailers like Macy’s, Walmart, and Amazon, which generate billions in revenue from these credit programs, have the resources to offer fairer terms. Instead, they continue to exploit consumers at a time when so many are struggling.

We call on retailers to immediately lower the interest rates on their store-branded credit cards. Fair interest rates would allow families to manage their debt responsibly, pay down balances faster, and regain control of their finances. Predatory rates are unjustifiable, and shoppers deserve better from the companies they support.

Sign our petition to demand that retailers stop charging exorbitant interest rates. Together, we can hold corporations accountable and push for practices that prioritize fairness over greed.