They are are toughest I have dealt with. I helped a relative settle about $75,000 in bad credit card debt (maybe 15 cards in all). Without question, Sears was the hardest. Overall, we got settlements from $0 (Penneys) to 80% (Sears). Most settled for 15 - 20%. I think Sears was the only one over 20%. They constantly told me they would come repo the merchandise. I made arrangements for them to pick it up but they never came. Clearly they want the money, not the merchandise. I still have the refrigerator (this was about 10 years ago). If you read this board, you will see many people with similar experiences to mine. I don't remember anyone saying Sears is easy to deal with.
We are willing to pay the entire amount we owe for full deletion. I am afraid we may be in for a fight.
I had about 40 credit cards at one point, two of them were sears cards. 9 years later..sears is still trying to get money out of me. how much? 191 on one and 241 on the other. (yes, Im working on this one) Sears and Foleys would be the most annoying creditors I have ever dealt with. I even had a friend who filed bankruptcy and according to him the only people who appeared was sears.
I heard the same thing. Shoot-I was hoping that I could find someone with a good story. I heard the same thing about how they treat people in Bankruptsy. Ug Well , we can pay so maybe we will get lucky. Sigh
Here's a fun fact. Last year, Sears made more money from the interest collected on their credit card accounts than they did from the net profit on their entire retail operation. In other words, Sears is basically a credit card issuer with some merchandise stuck out front. Doc
Has anyone had any success in having the APR on their Sears account lowered. I think my wife is paying 23.99. It has 0 balance right now. But we have just been afraid to use it in the past because the APR is so high. We have not called them yet to get it lowered. Just thought I would check here 1st.
I think I have 21.90% with SEARS...but I only use the card for 0.00% FOR A GIVEN AMOUNT OF TIME...or 10% OFF DAYS... SINCE 1979...BUT THEY JUST DENIED ME A LIMIT INCREASE WITH A 711 F.I.C.O.
Ok. I don't even know if I should bother calling. I may just have the mind to cancel if they don't lower it. I am kind of like that some times. However, if someone has 21.99% maybe I should call. I never use it, but just in case a lower rate is always better. By the way, George, is your card the mastercard?
I have 21.9% also but what difference does it make what the APR is if you only use it for 0% APR things? I bought a $1500 Entertainment set (TV, surround sound, DVD) from them and did the 0%. Never paid a dime in interest. Secondly, they don't accrue interest while you're not paying - which is more than I can say for other retailers when you are on "deferment". Lastly, if you make major purchases, you can access a "special" credit line that will not affect your regular credit line and they have special rates for those purchases.
I don't want to jinx it but, I just got some BT checks for my Sears M/C at 9.99% rate good for the life of the transfer. I had a Sears storecard for years until last year they sent me the M/C and closed the store card. They offered me a BT rate of prime + 6.99% and Itransferred about $1500 to the card. Last month, I paid the card off and the 9.99% checks came in the statement.
Hmmm My mom has had Sears card for like 30 years and she was never late . Do you think she could ask for the mastercard and she would be accepted? She is still paying 22%. Ridiculous.
Diane, It never hurts to ask. I didn't even ask. I didn't even know Sears had a M/C. Mine just arrived in the mail.
I was asked to "APPLY" for the M/C in a SEPERATE mailing...like they had NO IDEA I alreay has a STORE CARD... As far as I know...they just sent some people the M/C with-out asking...and CLOSED the STORE CARD... Some were asked if they wanted it BY MAIL...(trade) THEN THE "GEORGE FACTOR"...DON'T FORCE HIM...DON'T ASK HIM...AND DON'T GIVE HIM ANY LIMIT INCREASE ON HIS STORE CARD AFTER 10+ YEARS OF NONE, EVEN IF HE HAS A 711 F.I.C.O. AND NO "BADDIES" EVER!!!
Sears is an extremely tough creditor. If you are a cardmember that carrys a balance from month to month, it is EXTREMELY important that you pay Sears on time. Sears will aggressively report any late pays. They are also very tough to negotiate with when trying to remove derogatory information with them from your credit.
Sears is so tough... . . . How tough are they? Sears is so tough that even Mr. T shakes in his boots when he passes them in the mall. Sears is so tough that when they do inservice training they call 1-800-MARINES. Sears is so tough, they don't put bathrooms in their stores -- only enemas. Sears is so tough, store managers rock their kids to sleep with real rocks. Sears is so tough that the cashiers use barbed wire for dental floss. Sears is so tough that they sell Ajax at the cosmetics counter. Whew, they're tough. Sheesh. Shake it out. Doc
