I've had a Menard's BIG card for more than 3 years and ever since then the account was serviced by CONSECO finance. CONSECO was a decent company that allowed you to pay online the date the bill was due (statement due date). They also let you call in checks by phone for $9.00. If your payment was mailed and postmarked by the statement due date, there was no late fee.
This has changed ever since HRS took over the account recently.
Here is what they demand (and if you don't comply you will pay hefty fines).
1. Payment must be mailed 5 to 7 days before due date to ensure they receive and process it.
2. If you pay online, it must be 2 business days before due date, or you get a $29 late fee.
3. If you call in a check by phone, there is a fee of $15.
With these outrageous fees, how are you supposed to ever pay off the account? I can manage my money, but I know many people who live paycheck by paycheck or never get ahead because of outrageous fees instituted by well-off companies like HRS.
I have had two other accounts that were sold to HRS and I've paid one off in two years and the 2nd is taking forever. It seems I have to sign over large $ checks, and even then I still feel ripped off based on the high interest they charge (25.89%).
Nuts. Totally nuts!
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