TigerDirect has discontinued its TigerPay bank card as of Could 2015. The cardboard, issued in partnership with Comenity Capital Financial institution, allowed you to repay your purchases over time at a ridiculously excessive rate of interest, so you ought to be glad it’s gone. Beneath is the overview / assessment that reveals you why we didn’t advocate this card…
The very first thing to know in regards to the “Tiger Pay” bank card is you could solely use it at TigerDirect; it cannot be used at every other shops. That is the primary strike towards it — we expect it’s hardly ever smart to open new credit score strains to make purchases at a single chain, until there’s a huge payoff in doing so, equivalent to a terrific rewards program. Tiger Direct has no rewards program in any respect.
After which there may be the rate of interest — 29.99%!!!! This is likely one of the highest rates of interest on any bank card we’ve seen. It’s a horrible thought to be paying roughly 30% curiosity on something.
Normally after we see rates of interest so sky excessive the retailer additionally has some form of short-term 0% rate of interest provide, and also you solely pay the 20%+ rate of interest for those who don’t repay your buy in time. Not so with Tiger Direct. There isn’t a incentive to get this card aside from to purchase their merchandise and stretch out your funds whereas paying them an additional 29%+ on high of the value.
If you provide a bank card with this excessive of an rate of interest, you usually push it fairly laborious to clients which might be laborious as much as make a giant buy, and TigerDirect does. Put an merchandise in your cart and take a look at on-line and also you’ll have the choice to use for credit score instantly that will help you make the acquisition.
We might advise that you just ignore them each.