"I Don't Like This Card"
Sears Card® Review
Written by: eldarwen on 2008-02-22
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
eldarwen's review: 
I have had this card and the Sears Mastercard both for years. These cards have been nothing but a pain. The interest rate is really bad. I am not going to pay 25% interest on these cards. It is not worth it. My credit rating is good. I don't understand on based on my credit rating how my interest rate goes up along with my limit. I have never been late on a payment when I do make a purchese. I don't make them very often. I really can't cancel the cards because it will make my credit score drop and that is not a good thing. I canceled the rewards on the Sears Mastercard because of the fact that I have to pay $25 a month or year ( I can't remember which) for this. It is not worth it.
I have had this card and the Sears Mastercard both for years. These cards have been nothing but a pain. The interest rate is really bad. I am not going to pay 25% interest on these cards. It is not worth it. My credit rating is good. I don't understand on based on my credit rating how my interest rate goes up along with my limit. I have never been late on a payment when I do make a purchese. I don't make them very often. I really can't cancel the cards because it will make my credit score drop and that is not a good thing. I canceled the rewards on the Sears Mastercard because of the fact that I have to pay $25 a month or year ( I can't remember which) for this. It is not worth it.
7 Comments
Comment 1 by meya
Woe! 
on 2008-02-23
That is pretty high to be a MasterCard from sears. They do have high apr's, if they charge you for your rewards, I will make them sock drawer if I were you.
on 2008-02-23 That is pretty high to be a MasterCard from sears. They do have high apr's, if they charge you for your rewards, I will make them sock drawer if I were you.
Comment 2 by finance globe
Re: I Don't Like This Card on 2008-02-23
I totally agree. I have a good - solid credit history (barely 700 club) and low utilization, and to my surprise I was approved for their store card on the spot, not the MasterCard. My APR is terrible, in the 20's range and I have never carried a balance. This is one of those funny ones...
They are quick to give a CLI, if you have a large purchase in mind that isn't covered by your available credit, but they will stick you with that awful APR. I only use this card for their promotions, and then pay it all down. Be careful, if you go for one of their 0% promotions, pay it off BEFORE that promotion ends. Otherwise, they will accumulate the entire interest rate charges for the time you carried a balance.
on 2008-02-23 I totally agree. I have a good - solid credit history (barely 700 club) and low utilization, and to my surprise I was approved for their store card on the spot, not the MasterCard. My APR is terrible, in the 20's range and I have never carried a balance. This is one of those funny ones...They are quick to give a CLI, if you have a large purchase in mind that isn't covered by your available credit, but they will stick you with that awful APR. I only use this card for their promotions, and then pay it all down. Be careful, if you go for one of their 0% promotions, pay it off BEFORE that promotion ends. Otherwise, they will accumulate the entire interest rate charges for the time you carried a balance.
Comment 3 by eldarwen
I Am The Same Way. on 2008-02-23
I am not at sears that often, and these cards sit mostly in my sock drawer. It is not worth it to have these cards.
on 2008-02-23 I am not at sears that often, and these cards sit mostly in my sock drawer. It is not worth it to have these cards.
Comment 4 by eric
Sears Card on 2008-02-28
Me and my wife have had this card since 2000... We don't use are card very often. APR is 27.99. We were late once in 02 but come on. We both have low to medium utilization and we have a CL of $400. We got this card when it was run by Sears National Bank. But since Citibank got it, we have been paying a higher APR.
on 2008-02-28 Me and my wife have had this card since 2000... We don't use are card very often. APR is 27.99. We were late once in 02 but come on. We both have low to medium utilization and we have a CL of $400. We got this card when it was run by Sears National Bank. But since Citibank got it, we have been paying a higher APR.
Comment 5 by eldarwen
That's Why I Never Use It on 2008-02-28
Why would anybody want to pay that kind of interest if they have good credit. I tried negotiating the interest, but no go. These 2 cards are my oldest credit cards (held them for a little over 3 years) and I can't afford to cancel them. Then my history will drop down to about 6-7 months.
on 2008-02-28 Why would anybody want to pay that kind of interest if they have good credit. I tried negotiating the interest, but no go. These 2 cards are my oldest credit cards (held them for a little over 3 years) and I can't afford to cancel them. Then my history will drop down to about 6-7 months.
Comment 6 by eric
SEARS on 2008-03-03
We only keep it because its 8 years old and it helps with our credit history.
on 2008-03-03 We only keep it because its 8 years old and it helps with our credit history.
Comment 7 by interjack
Just A Bit Of Insider Info... on 2008-04-25
You are not going to get a APR less than 19% no matter what your credit score is. Most of the APRs I have seen have been 24.9%. Usually a good credit score and history will land you a huge CL, but the interest rate will remain unchanged. The only thing this card is good for is the 0% Interest promos at Sears. Many big ticket items, IE. Lawn Tractors, Plasmas, Washers and Dryers have promos throughout the year.
I would not recommend this card to anyone unless you are using a interest promo. And if you do decide to use the interest promo, be sure you pay your balance in full, or you will suffer the penalty of having all the interest accrued for the duration of the promotion charged to your account.
Don't waste your time.
on 2008-04-25 You are not going to get a APR less than 19% no matter what your credit score is. Most of the APRs I have seen have been 24.9%. Usually a good credit score and history will land you a huge CL, but the interest rate will remain unchanged. The only thing this card is good for is the 0% Interest promos at Sears. Many big ticket items, IE. Lawn Tractors, Plasmas, Washers and Dryers have promos throughout the year.I would not recommend this card to anyone unless you are using a interest promo. And if you do decide to use the interest promo, be sure you pay your balance in full, or you will suffer the penalty of having all the interest accrued for the duration of the promotion charged to your account.
Don't waste your time.
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Disclaimer: This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citibank. Review content is powered by Finance Globe.
