Sears( rant )

[illmatyk]

Well, Sears just reopened up in my area last December, which I thought was pretty cool. I signed up for their card and got approved bought some stuff. Now, I haven't received any billing or my card( I'm using the temp pass ). I called their number 2 or 3 times after I went to their store and told the people there. And still nothing.

Have any of you guys gone through this before? When I called the number they gave me my balance and when the payment is due but I would like to see an actual invoice/billing statement.

 

[bmfenn]

When I signed up for a sears account, it was like 3 weeks or more before i recieved the actual card.

 

[wchamberlain]

I would cut the Sears card up and call it a win for you. They have one of the highest interest rate cards, usually in the 18-22% range. It helps build credit, got it, but the limitations are not worth it, unless you really need something from Sears. Being on this board I assume it tools/home improvement. I'd say pay as you go and don't worry about a Sears card.

 

[thesilverone]

Most store credit cards have an APR in the 18-22% range now, unfortunately.

 

[pipsters]

As long as you pay it off, APR means nothing. It is charged on the remaining balance at the end of your monthly billing cycle. I charged $25k last year on our rewards CC and got a $500 check at the end of the year.

 

[matty d]

I agree. Just pay it off every month and enjoy your sears points racking up.

Good luck. Tough times for everyone trying to save and enjoy at least a little of it once in a while.

 

[wchamberlain]

As long as you pay it off, APR means nothing. It is charged on the remaining balance at the end of your monthly billing cycle. I charged $25k last year on our rewards CC and got a $500 check at the end of the year.

Pip, I assume that's with a Major CC, not a department store cc. I agree with you on that, but at Sears, most of the purchases are for tools/home/or home improvement, I'd say pay as you go. I don't think Sears would be giving a rebate check because someone charged 25K in 1 year and paid the balance monthly.

 

[Buckgnarly]

Pip, I assume that's with a Major CC, not a department store cc. I agree with you on that, but at Sears, most of the purchases are for tools/home/or home improvement, I'd say pay as you go. I don't think Sears would be giving a rebate check because someone charged 25K in 1 year and paid the balance monthly.

No, you get "points" with each purchase if you are a rewards club member (regardless of payment method) that you can redeem for Sears purchases. I beleive I cashed out 10 bucks or so last year, but hey, free 10 bucks!

 

[Theloniousmonk]

watch the rates on the sears cards! iirc Citi runs the cards for sears... we had one - only had a few grand on it, payed monthly to keep an active balance, blah blah blah... rate doubled last july for no apparent reason - tried to negotiate, no-go... we got a payoff amount, payed that then received a "late notice" in november - bastards charged us a "processing fee" for paying off the balance, then interest at the new rate, then late fees, etc... never received a bill after the payoff, until the "late notice" - we raised hell, got it canceled and closed the account.

 

[Buckgnarly]

Cancelled mine the day they added a yearly fee. Too bad b/c I used to use my Sears card when they offered 10% with it....would just pay it off at the end of the month.
No way in hell I'm paying a CC company for me to have their card....

 

[pipsters]

Pip, I assume that's with a Major CC, not a department store cc. I agree with you on that, but at Sears, most of the purchases are for tools/home/or home improvement, I'd say pay as you go. I don't think Sears would be giving a rebate check because someone charged 25K in 1 year and paid the balance monthly.

Yep that was what I was getting at - forgo the Sears card altogether. Just combine everything on a good rebate CC and pay it off monthly. I also show my "Blue Crew" card or whatever it is for the Sears points. You can combine.

 

[wchamberlain]

So no American Express Buck????????

 

[Buckgnarly]

So no American Express Buck????????

Nothing now...well one for emergencies but have yet to use it. I went down the CC debt road in college, once is enough for me.

 

[illmatyk]

Right now, I'm just planning on paying it off and cutting up the card as it has turned out to be a PITA just wanting to see my bill of $400ish...

There rates are pretty crazy @ 22%!

Right now, I dont think I'll be charging anything else as I pretty much have what I want/need.

And so far, the store is crappy with stocking up their tools.

But oh well, we live and we learn.

 

[chevy265]

I have sears and lowes and other department store cards. The interest rates are rediculous but i only use them when they are running their promotional "12 months no interest". You have to make a payment every month but dont pay the minimum they require as you will not get it paid off in time. I divide my total purchase by 11 and pay at least that and never pay a dime in interest! the reason i say 11 and not 12 is a safety buffer. If you go 1 day over, they charge interest back to day 1.
The only problem ive ever had is when i first got the sears card. I applied for the card @ the store and was approved and left with my purchase. I waited a month....not a single mailing from sears. No card,no invoice,nothing! I talked to the store manager,he couldnt help me without an account number....The acct # was nowhere on the paperwork i got the day of the purchase. He told me not 2 worry,"its only been a month". I called the 800# several times, "I cant help you without an acct #" " I dont have an acct#, you never sent me anything". I will not go to sears and just hand them money when they dont have an acct to apply it to! So i did nothing! The 3RD MONTH the collection department called me. Lo and behold....THEY had my acct #!!!! It only took another MONTH to get to the right department to fix the problem and get me a card and invoice!!! They waived the late charges and told me I would still have 12 months to pay but the invoice i got the other day shows my promotional period ending exactly 12 months from the purchase date so i guess another phone call is in order! I shouldnt lose 4 months due to thier mistake but i probably will.

 

[johnsdeere850j]

credit cards are evil. Just get you a visa check card hooked up to your checking account and you can pretend its a real credit card while actually paying for the stuff you buy right then and there. its almost magical.

 

[chewy7]

credit cards are evil. Just get you a visa check card hooked up to your checking account and you can pretend its a real credit card while actually paying for the stuff you buy right then and there. its almost magical.

^^^^^^^^

 

[W650Mike]

credit cards are evil. Just get you a visa check card hooked up to your checking account and you can pretend its a real credit card while actually paying for the stuff you buy right then and there. its almost magical.

Amen! Paying cc rate interest is just giving your money away - lots of it.

 

[pipsters]

Irresponsible use of credit cards are evil. You only have yourself to blame at that point. Otherwise they offer significant protections over cash/check and even debit. Maybe people don't realize you can pay the card off at the end of the month?

For example, my credit card provides up to $50,000 in collision insurance on rented cars. Since I only have liability only on my personal cars, I do not have to purchase any additional coverage when renting.

I get extended warranty services with purchases made on my card, I believe it's at least another year after the manufacturer period ends. You simply fill out a form and they refund the money.

If anything you buy online turns out fraudulent, you call and presto the charge is off your card. Try that with a debit card.

And much more than that, the benefits go on and on. All that for $0 in interest payments in 10 years, and another 2% cash back? It's a no brainer.

 

[flyingvette]

pipsters is right on...

Plus the benefits of having an instant line of credit with no additional paperwork to fill out.

 

[illmatyk]

I have sears and lowes and other department store cards. The interest rates are rediculous but i only use them when they are running their promotional "12 months no interest". You have to make a payment every month but dont pay the minimum they require as you will not get it paid off in time. I divide my total purchase by 11 and pay at least that and never pay a dime in interest! the reason i say 11 and not 12 is a safety buffer. If you go 1 day over, they charge interest back to day 1.
The only problem ive ever had is when i first got the sears card. I applied for the card @ the store and was approved and left with my purchase. I waited a month....not a single mailing from sears. No card,no invoice,nothing! I talked to the store manager,he couldnt help me without an account number....The acct # was nowhere on the paperwork i got the day of the purchase. He told me not 2 worry,"its only been a month". I called the 800# several times, "I cant help you without an acct #" " I dont have an acct#, you never sent me anything". I will not go to sears and just hand them money when they dont have an acct to apply it to! So i did nothing! The 3RD MONTH the collection department called me. Lo and behold....THEY had my acct #!!!! It only took another MONTH to get to the right department to fix the problem and get me a card and invoice!!! They waived the late charges and told me I would still have 12 months to pay but the invoice i got the other day shows my promotional period ending exactly 12 months from the purchase date so i guess another phone call is in order! I shouldnt lose 4 months due to thier mistake but i probably will.

This is similar to what happened to me. About a month went by and went to the store to check about my billing and they told me to call the 800 number and behold! It was due the next day or so!

credit cards are evil. Just get you a visa check card hooked up to your checking account and you can pretend its a real credit card while actually paying for the stuff you buy right then and there. its almost magical.

I just did that a week ago, waiting for it to arrive in the mail.

 

[jkeyser14]

This is similar to what happened to me. About a month went by and went to the store to check about my billing and they told me to call the 800 number and behold! It was due the next day or so!



I just did that a week ago, waiting for it to arrive in the mail.

Just so you guys are aware, most checking cards do not offer you the same fraud/theft protection that is required by law with credit cards.

 

[illmatyk]

Just so you guys are aware, most checking cards do not offer you the same fraud/theft protection that is required by law with credit cards.

I know but I wont be using it for purchasing online, only in store.