Hmmm Friday the 13th. It got off to such a good start ... half day at work, had a beer with lunch and decided to see a movie. Got me a good war movie (Enemy at the Gate) under my belt, and came home just in time to check the mail.Only thing in the box was from Sears. Yep it was a nice, friendly note! "We have now changed our credit policies to offer more 0% financing than ever before", yada yada yada. Then the punchline: "See reverse side of this notice for details."OK they had me by then I was intrigued. Up til now the only reason there never had been a balance on my Sears card was the 21.9 percent interest. I always kept the card "just in case" I needed it anyway. So anyway, I read the reverse side. The fine print they alluded to on the first side says that they have now gone to <<< 24.9% >>> to pay for these useless goodies they offer now!!I kept my cool. Remember I had just come from a war movie. I wanted to put a .45 right through the center of the Sears card and mail it to them with their friendly notice. But I figured that would alarm the neighbors. So I cut it up into tiny strips. Turned the shredder on, and fed each tiny strip, one by one through the machine as it crunched and made wierd noises while I grinned.BYE BYE SEARS!! Useless bunch of thieves!--Paul B
I received a similar notice, but my rate is changing from 21% to 21.9%. I am still debating whether to get rid of this card, as it's one of the only two cards I have and have used it in the past for Budget rental cars and car repairs. (I have no major CC due to foolish past behavior and the current offers I get are for cards at 23.9% (yikes).)I am getting close to the 30 day cutoff for notifying them I refuse the new terms, though...
It is my personal experience that Sears does not provide quality automobile repair.My mother used to have a mid-eighties Buick Park Avenue. It pulled strongly to the right. She took it to Sears three times for an alignment. This never solved the problem. I finally took her car into a little family owned frame/suspension shop. They quickly identified a bent something-or-other component of the front steering system, perhapse it was a tie-rod. The replaced it and did a re-alignment for about the same price that Sears had charged just for the alignments and it was as good as new. During three alignments Sears never identified the problem which was so imediately obvious to an experienced mechanic.Sears may be fine for an alignment itself, or other straight forward jobs, but don't count on them for actual repair that requires brain cells.xtn
I am getting close to the 30 day cutoff for notifying them I refuse the new terms, though... ------------What are they going to do if you notify them that you refuse the new terms? Cancel your account? I got a notice like this from Discover last year (it actually said that if you called within their timeframe and refused they would cancel your account). So I just ignored it. I figured they would use a 'cancelled by credit grantor' note on my credit report instead of 'cancelled at consumer request'. I've always heard with reference to credit reports that if I cancel the card, it's better than if they cancel the card. (This is hearsay only, if you're out there and you know the truth, please respond if what I've heard is inaccurate.)I think these kind of notices give you two real options:1) Call and see if they would exclude you from this interest rate increase for whatever reasons before the 30 days is up. (I didn't try this with discover because I was going to use option 2 below after receiving a notice like that. Has anybody out there had any experience with this?) If they won't keep your interest rate where it is or lower it, tell them O.K. please leave the card active -- then use option 2.2) Cancel the card yourself -- in your own timeframe and not their 30 days. Especially if you've got a zero balance. And, you can do this after trying option 1 above within the 30 days.BTW, I didn't cancel discover. It had a zero balance and I got some good balance transfer options (not 23.99 percent) which I've utilized in my total debt reduction plan. A side note about balance transfer offers on your existing cards -- if they are sending you offers for 9.9 that end in August, they've usually got a 7.9 that ends in October available. Or in my case last year they were sending me 7.9 and they actually had a longer period 2.9 available when I called. So always call and check for a better offer rather than just using the 'convenience' checks they send you.Sorry about the length of this post...
Sears has ridiculous rates...BUT they frequently offer 0% interest for various periods of time...these offers can come in handy when you are in the market for appliances and other "big ticket" items.Sure, if you're Foolish, you could pay cash for a new refrigerator. But if you're REALLY Foolish, you could charge it at Sears for 6 months 0 interest, put the $800 into your money market, and at the end of your interest free period, pay it off, AND have a few dollars in interest that you've earned.Sears also sends their card holders nifty coupons ($5 off a purchase of $5 or more)...using these I've gotten some tremendous deals. I usually get them in batches of four -- I'll go and buy some on-sale items, and after I use the 4th, I'll make a payment at the register totalling what I've just charged (you must charge the purchase to use the coupon).SO while I agree that Sears has high rates, they also have some excellent perks.
DAMN GOOD FOR YOU!!!! Paul!!!Bye Bye SearsSean
Paul, Good for you! I hate Sears too! I owe 2255.00 to those sharks yet. I just signed up with Myvesta for debt mgt and Sears was the only one that refused to lower my interest rate- yukky 23.99%! They simply would not budge! I can't believe they wouldn't lower interest rate even a little, where the other 2 did, Prov visa and Gateway. As soon as I'm caught up more on debt, I plan to do a BT and get rid of them for good, and will have the card shredded, chopped, etc, just like you did! Allison
I've been a Sears credit card holder since 1974. I used them for car repairs until about 10 years ago when I had some work done, including the installation of a new battery to replace one that was getting old but not causing any problems. (Hey, there was a sale - what can I say?) Several months later, my car kept dying, so I took it back to Sears. Guess what? The battery had not been replaced, afterall! I truly believe this was a mistake of miscommunication between the mechanic and billing clerk. AND I was not savvy enough to look under the hood to see that, indeed, the battery was new. Even though I believe this was a mix-up, I no longer use Sears for auto repairs. Why? When the mistake was discovered, the mechanic shrugged it off, offered no apology of any kind, and kept me waiting for an additional two hours to complete the installation of the new battery.This is the only problem I have ever had with any Sears transaction, but I'll never forget it. Even though I still shop at Sears, they lost an auto repair customer forever.
<<I truly believe this was a mistake of miscommunication between the mechanic and billing clerk. AND I was not savvy enough to look under the hood to see that, indeed, the battery was new. >> It sounds like you are being generous in ascribing this to a misunderstanding. If you could document the original purchase with a receipt, I would have expected them to correct this mistake.As an independent repairman, it's always a pain to be confronted by the fact that you've screwed up in some way. However, the customer is entitled to good service, and my feeling is that the only customer I am OBLIGATED to serv is someone who has a claim under a guarantee or because I didn't complete a job properly. Those claims (even if they turn out not to be true) get my first priority in scheduling work.That said, I would have made a claim with a supervisor, especially if I could have documented the battery purchase. I would expect that there wasd enough corrosion and junk on the battery to make it clear that it had never been replaced.Seattle Pioneer
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