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Report: #736786

Complaint Review: Scotiabank Jamaica - Kingston Select State/Province

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  • Reported By: tiredofit — Kingston Nationwide United States of America
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  • Scotiabank Jamaica Knutsford Boulevard Kingston, Select State/Province Jamaica

Scotiabank Jamaica Loan Shark Credit Card Interest Rates Kingston, Jamaica

*Consumer Comment: OUCH!

*Consumer Comment: You Are Describing a Secured Credit Card....

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If you want to pay close to 50% interest rates on credit cards, then you cannot say you have not been warned, about this bank.

Scotiabank Jamaica will use their super high interest rate credit cards to lure you, and you will be paying like a slave for the rest of your working life.  Beware of these sharks as the Government of Jamaica is not even in a position to protect consumers from these greedy bankers.

Their customer service is non existent and trying to get an issue resolved will take many precious hours and lead to nowhere.  Shop for better rates at credit unions, or better yet save your cash to buy your assets.  These banks take your money as deposit, pay you pennies for interest  or no interest and fee you to death, while using the savings you deposit, to loan you on credit cards and charge almost 50% interest.

This report was posted on Ripoff Report on 06/04/2011 10:56 AM and is a permanent record located here: https://www.ripoffreport.com/reports/scotiabank-jamaica/kingston-select-stateprovince-/scotiabank-jamaica-loan-shark-credit-card-interest-rates-kingston-jamaica-736786. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#2 Consumer Comment

OUCH!

AUTHOR: mr rik - (USA)

POSTED: Saturday, June 04, 2011

NO WONDER Jamaica is so poor!

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#1 Consumer Comment

You Are Describing a Secured Credit Card....

AUTHOR: Jim - (U.S.A.)

POSTED: Saturday, June 04, 2011

If you actually used this credit card, it means you could not get a traditional credit card anywhere else; you don't need to provide a deposit for a traditional credit card.  The reason you are paying the default rate of 50% (I'm assuming 49.99%) is because a credit card holder either was late with a payment, went over the limit on the card, or did something else outside the T&C's of the credit card.  Not shilling for this card, but just explaining what happened.

There are many secured credit cards out there, some of which convert to a traditional credit card in 12 months IF you make all payments on time.  You may consider a balance transfer to the new card provided you watch the balance transfer fees.  Best of luck to you.

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