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Gouging.

Gouging

Unbelievable.

We're not positive, but in what we think is a retail first, Little Rock-based Dillard Department Stores Inc. has instituted a "late charge" of $10 if your payment doesn't make it on time.

Sound like your mortgage or car note?

It's all part of the new credit agreement mailed to customers to announce the formation of Dillard National Bank at Phoenix, Ariz.

We guess it's not enough that the annual percentage rate almost doubled, going from 10.5 to 19.8 percent.

The agreement says the charge will be assessed if payment is not received within 25 days of the due date.

"This is a new charge," the fine print says simply.

We understand Dillard's has received many cut-up pieces of plastic in the mail recently.

We aren't surprised.
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Title Annotation:Whispers; surcharge for delayed payments to Dillard Department Stores Inc.
Publication:Arkansas Business
Date:Aug 12, 1991
Words:131
Previous Article:Bravo.
Next Article:We told you so.


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