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Summit Racing Equipment Speedcard Review
Looking for the Summit Racing Equipment SpeedCard credit card? Looking for a branded credit card to help finance your auto mobile purchases? The Summit Racing Credit Card is one option to take, and this guide will tell you what you need to know, including terms and conditions and interest rates, and a guide to online account management.
Summit Racing Equipment is the biggest mail order vehicle performance equipment and after market product company, offering parts for all kinds and makes of vehicles from race cars to SUVs. Established in 1968, the company has grown steadily thanks to its diverse product range and low prices. They are mainly based online and from catalog, though there are 3 retail locations in the US.
Summit Racing Equipment SpeedCard
The Summit Racing Equipment SpeedCard is a branded store card offered by Summit Racing, which offers cardholders a number of special financing options for purchases made with Summit. If you spend over $299 on a single order, then you get 180 days interest free, and if you spend over $1,000 on a single order then the interest free period is 360 days. This is the primary advantage of having this credit card – there are no rewards and points schemes available, just these simple no-interest deferred payment options.
The standard rate of interest for the Summit Racing Equipment SpeedCard is high, so you are advised to pay off at least the majority of your balance before the interest-free period is over.
Terms and Conditions
The Annual Percentage Rate (APR) on purchases is 29.99% which will vary depending on the Prime Rate. Like many branded credit cards, there are no cash advances or balance transfers or related rewards available. The minimum interest charge is $2. Late payment and returned payment fees are both up to $35. For payments not subject to promotional 0% interest, you can still avoid paying interest if you pay off your balance in full by the due date. Full terms and conditions can be found on the cards website.
Summit SpeedCard Online Account Management
The Summit SpeedCard Credit Card is issued by GE Capital, and your payment options are thus transferred and dealt with them, not Summit. GE allows you to set up an online account where you can manage your credit card, see your payment history and pay your outstanding balances. This is the option to take if you want flexibility. For example, you can quickly make a single payment which transfers on the same day, schedule future payments, or set up Autopay, which transfers money each month automatically.
Please read your dispute resolution section carefully. To preserve your rights, we recommend that cardholders reject any Arbitration agreement when given the opportunity to do so.
The Summit Racing credit card is issued by GE Capital Bank and GE Capital Bank has standard dispute resolution procedures in place if you have an issue with your card or a transaction. The procedure requires you notify them in writing to begin the resolution process. Within 30 days of receiving your notice they will contact you letting you know they have received it. If the issue has not yet been resolved when you get the first response, within 90 days of receiving your notice they will contact you again. They will either have corrected the issue, or provide an explanation why they believe the bill is correct. During this process they will not try to collect any disputed amount from you and they will not report any disputed amount to any credit reporting agencies.
The terms of service contains a standard arbitration agreement which may be rejected by the cardholder. To reject the standard Arbitration Agreement you must send a written notice rejecting arbitration within 60 days of opening your account. If you reject the Arbitration Agreement, only a court may be used to resolve any dispute or claim.
If you fail to reject the Arbitration agreement, you will lose your right to participate in any class action suits against the company.
Note: The terms and conditions do not require you to arbitrate your dispute if a complaint is filed in small claims court. Further, it does not require you to arbitrate a claim filed against you by the card issuer.