A friend Monday sent us a story from Yahoo! Finance that seemed like it was aimed right at us: “Home-Shopping Channel Addiction: A Fast Path To Credit Card Debt.” No kidding!
The article quoted one Laura Clifford of California, who had to take out a $15,000 loan from her credit union to pay off her credit cards, where she had rung up a load of home shopping “ideas,” as QVC host Lisa Robertson would say.
“Home shopping is mesmerizing,” Clifford told Yahoo! “You get yourself in a frenzy.” Yes, we’ve often whipped ourselves into a frenzy watching Nicky Butler or Sajeen Silver on HSN. Seriously.
In addition, the story quotes the author of “Make Millions by Selling on QVC,” Nick Romer, who claims to have sold more than $14 million worth of arts and crafts tools on QVC and HSN.
The story then lists the pitfalls of home shopping, and we’re sure you are all familiar with them.
1. Installments, which we know as “Easy Pay” or “Flex Pay,” which Yahoo! says “create the illusion that you’re not really spending as much as you are,” axccording to Yahoo. “Only a dollar a day,” as Robertson would say.
2. Costly credit cards. Did you realize that the interest rate for QVC’s Q card is 24.99 percent, and it’s 26.99 percent for HSN’s card? Yikes.
3. Auto-delivery. It can force you to buy a product, like makeup, even when you haven’t run out.
4. Remote control purchashing. We have HSN By Remote now. We can push “OK” on our remote, and we’ve bought something from HSN. “Impulse shopping has never been easier,” Yahoo! says.
Collectors are the ones most likely to get into debt trouble due to their home shopping, Yahoo! adds.
And don’t think that Robertson is really your BFF, according to Yahoo! The hosts act like they are your friends, which lures in “those who are loners or homebound, as their very warmth provides a sense of trust and camaraderie,” Yahoo! says, quoting one person who called home shopping “TV Prozac.”
Home shopping addicts are advised to limit themselves to one purchase a week.
And if all that doesn’t work, Yahoo! says to call your cable company and get rid of QVC and HSN. Pull the plug.
Perish the thought.