[RWebb]

the US does not have an effective regulatory agency for consumer credit - tho the president who many people don't like on PARF is trying to create one

thus, the stores are free to do almost anything they want

state agencies cannot touch them b/c they are all in the Dakota territory (on the financial frontier) and they have lobbied (paid for) very favorable treatment there

I would never own a dept. store credit card.


Do you care about your credit score? IIRC, you likely have sufficient assets to not worry about it. If so, do not pay the charges, and write them a nice letter as to why. They will immediately zap your credit report w/o your knowledge. Wait 2 months and get a free copy, find the nasty and dispute it. This will not raise your score, but if a human takes the time to actually look at it, (and wants your credit) they may well give you a favorable loan anyway.

It will not have much effect on the score - might drop you 50 points or so. It will vanish in xx years. (3??)

Too busy? Too much work to take all the time? They they have won.

The best thing is to copy your post to your representatives in the Senate and House, and say you want a consumer credit agency formed. It will not help you directly, but it will help millions of people worse off, and help shift economic emphasis from "Financial Engineering" to something more worthwhile, improved medical devices, or better solar panels, as examples.