Unfortunately, this is not Sears that is to blame, though they bear the brunt of it.

The real criminal is Citibank, who issues the Sears Cards.

In my opinion, the best thing we can do is take back our credit division from people who do not have our company's future, or our customer's at heart.

Problem is, all credit card companies are doing this. Theyre trying to nickel and dime everyone before the government steps in. Thers no accountability because every company does this and they say its because they have to, to stay in business.

The real problem is with credit in general. The entire country has become to reliant on credit cards to the point where we no longer have another choice. the same issue with oil companies and the ridiculous prices, as well as airlines.

We've had the same big names for so long that they slowly took over and we no longer have no control and 0 other options. Its unfortunate and I hope on gover

We need a "solar-powered"/green credit card!

worldweary2 said…

Unfortunately, this is not Sears that is to blame, though they bear the brunt of it.

The real criminal is Citibank, who issues the Sears Cards.

In my opinion, the best thing we can do is take back our credit division from people who do not have our company's future, or our customer's at heart.

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Unfortunately this IS a Sears problem, who sold the credit division without setting up customer protections and the ability to override silly decisions in the best interest of the customer and the store?

We have a USAA card that USAA was able to override, they had built that into the contract years ago when they set it up.

The funny part is that we have good credit, we get offers from other companies, we bought a home before selling our last, it is just our Sears card. So what have the others done that Sears did not?

It is also ridiculous that I couldn't get a simple temporary override to complete the purchase for my son's birthday...another idiotic policy of Citibank that wasn't taken care of when the contract was written.

So I guess if Sears didn't care enough about me(or anyone else) as a customer to write in protections, and doesn't care enough now to either step in with Citibank or buy back their credit division, I will have to shop elsewhere...where I can take advantage of specials that are offered in conjunction with the card.

The last purchase I made at Sears I was assured by the cc 800 number they would temporarily override so I could use the premier discount on a $900 freezer. When I got there, the associate called, they refused to override, I couldn't get the premier discount...I bought it, but it is likely to be the last purchase I make at Sears....I LOVE my MPPs, I love Sears customer service when I have had issues, but my loyalty obviously means nothing to Sears.

Citi bank.

Adam & the rest of the posters on this thread are correct about the villian. This lends the question "Why are these hucksters friends of Sears?".

In dropping your credit line to $300 and angering you enough to close your account, they did you a favor though. Check other threads in "Credit Cards", and you'll see that they were about to pick $50 cash from your wallet in a new annual fee reserved only for Sears Mastercard holders.

Let's not forget that Sears was in dire straits not too long ago.

The merger didn't happen for no reason.  Warranted, it was not wise to make a deal with the devil, but at the time, it was the best option on the table.

Citibank, as well as others, have clearly, and abundantly abused their position of power in the free market.  The way our society is structured, and it is quite out of balance, has allowed Dracula to be invited into the house.

The few have operated in an unsustainable manner for so long, we ALL are now living with the consequences of their actions.

Hi tammie2, thank you for being a loyal and long-time Sears customer. Sears is fortunate to have a customer like you who have made every major home purchase through us. At Sears, our customer’s satisfaction is important to us and we pledge to stand behind them.

We are sorry to hear about your experience with the Sears credit card. Unfortunately, as a result of new regulations (CARD Act and UDAP), many banks (such as Citibank who issue the Sears credit cards) are making changes to their credit terms and conditions, one of which is lowering credit lines.

In response to the changes from the banks, Sears is offering a range of financing options such as Layaway, Special No Interest and No interest No Payment financing options, and ShopYourWayRewards program (https://www.shopyourwayrewards.com/). Your loyalty means a lot to us. Hope you will give Sears another try!

oops

The sad truth to this is there are many ppl out there going through the same thing as far as credit and credit limits. The times are needless to say rough.....and the big dogs in their fancy chairs are not considering what they get paid verses the smaller ppl. IN other words....if some of the high paying, pointless filled postions, were reduced at the moment some of these companies would not be in the situation they are in.

Two words......citi bank......not sears!!!

It is Sears who is actually trying to offer other options. I know personally and was shocked at our limit as well, but when offter the layaway was very happy that 23 percent interest was a KILLER. If my husband had a 6 figure job I wouldn't worry so much over a cc with 23 percent interest, plus now annual fees. I'd buy the present with cash, saves more in long run:)

Thanks SearsPro. I see where you're coming from. I'm not trying to mislead anyone, I'll be clearer in the future! 

Hi rosystarr, I'm really happy to hear that you were able to take advantage of the layaway at Sears. Hope you found some great presents :)

The thing about credit companies is that you make an agreement. It's amazing how many people think that credit cards are charities, and not business . They don't let people use money because they have too much, but for a profit. I'm not saying rates are not high, or that credit companies are evil. What  I'm saying is that credit companies should not have accounts to people at rates that people don't have the income to afford it, and that consumers should not spend more then what they make.

There are times that debt is accumulated due to unforseeable reasons.

Lack of medical insurance, and ilnesses / injuries can be a killer.

Sometimes the only way to make it, is to ring up debt on a credit card.

Not everyone in debt up to their eyeballs chose to be that way...

No benedict your right I see what you meant, I was just kinda tired when I read it. But they way you worded it was correct, I'll edit my post.

We have never requested charity, we have ALWAYS paid our bills, and always on time-haven't missed a single payment(we had one payment 5 days late do to a change in our payment due date, which we kept an eye on after that).

I think my point here is that credit history with a company should count more than a score lowered based on limit to balance ratios, and it used to before Sears sold their credit division without their customers in mind. The blame needs to be divided since responsibility is shared in this instance.

The biggest reason for our desire to keep our card is for the promotions, the 0% intrest, the $$ off, rewards, etc. However, there is nothing under $300 that I couldn't pay cash for and the best we have ever done is 15% off and the $45 savings isn't worth the aggrevation and hassle. As for layaway, we have $20K in available credit through major cards and enough cash to buy what we need. Losing the card is more about losing the incentive the card brought in terms of premier offers.

As for spending more than we earn, that too was never a concern until the hurricane when we had 2 options, go in debt fixing the house then sell it, or quit paying and let it be foreclosed on, we chose the former since it was the right thing to do and we have been dealing with it ever since and we finally see the light at the end of the tunnel, we will be debt free other than our mortgage as of Friday.

It's great that you have been so fortunate (except for the hurricane), tammie, but, not everyone is.

Alot of people don't have the benefit of a good education, or well paying profession.  Some no longer have the benefit of a paycheck, so, they couldn't pull off what you did.  They had that option taken from them.  It's great that you have always had the ability to manage, and pay your bills, but some people don't have that luxury.

Hi tammie2, Thank you for all your feedback. It is good to know from your perspective the biggest reason for keeping the Sears card. 

With the Sears Gold and Platinum MasterCard, members can enroll in our Sears Choice Rewards program that rewards members with merchandise, travel, dining and more. (Members earn 1 point for every $1 spent on all purchases and have the opportunity to enjoy exclusive bonus points events!). You can find out more details here https://www.searschoicerewards.com/ 

Worldweary Thank you for your understanding. I had decent credit until my 15 year old daughter was hit by a jetski. She is now 21, and neither of us can get a Sears card, or any other card, So, we're happy to just buy what we need, or wait until we can.

KMart is still my favorite store of all time, and Sears is still the best place to get things for your home.

But this mentality is elementary. This would be like when your going on a field trip in school, but one kid screws it up and ruins it for everyone else. That is not an ok way to do things, everyone should be treated unique as a case by case basis.

What if our legal system worked this way, because one person in your city or with your car or in your family drives drunk, you should all have your licenses removed and be thrown in jail.

not very fair.

Houdiniphile - Sorry to hear about the sad story about your daughter & subsequent credit difficulties obtaining the Sears Card. Rest easy reading earlier posts and see the benefit of missing a new $50 annual greed fee inspired to pick your pocket and hard-earned money for the benefit of fat cat corporate bankers. Other posts try to claim that these junk fees are applied everywhere, but you'll see through all of that static.

Both K-Mart & Sears are value-oriented power retailers who deserve so much better!

Thank you very much. I am happy to purchase with cash or debit at Sears/KMart. I just wish the associates would understand NO means no . when they offer me an app day after day. They know and I know , that the cash what i;ll be using for a long time.Can someone tell them this?

they arent allowed to understand no. corporate says they have to try and wring every cent they can from the customer.

funny how one of the chief complaints early on here was the wait in line and the number of questions asked and they have since added more questions ie the perks card

Actually, in my case, I have been struck by lightning, and never treated properly for it.

Three days after the strike, I flipped out, and broke my right hand after losing my temper, totally out of character, sending me out of work for almost five months.  The neurological after effects of the strike are supposedly to blame, but, because I reported it at work, and was never taken to the hospital, because they said I said I was "fine", I have no real proof.  I really don't remember much of the weekend, as it happened on a Friday, and I broke my hand the following Monday.  I have no real medical proof, just a forensic report detailing the position of the strike, and the flipping out three days later.  The debt mounted while I was out, and the cards I was on the way to paying off increased in debt, without a paycheck.

A month after returning to work, I was diagnosed with apnea, and lost my career as a CDL driver.  I bounced around for a while, and finally ended up at Sears.  I have entered credit counseling to pay off my debt, and went from a well over 700 credit score, into the proverbial "toilet".

I will have benefits again in January, and after I have a more definitive diagnosis in regard to the apnea, as I may be a hypersomniac as well, I'll hopefully be entering a state run program to get vocational re-education.

Starting over is a pain, but, breathing is better than the alternative.

Wow, worldweary.  I would say, you are probably still thankful everyday to be here, after that strike, and hanging in there.

I hope you are able to get the medical attention you need.  It is hard to get by day to day without a good night's sleep.

Worldweary, I thought medical nightmares like that were reserved for military and peace officers. Sorry this happened to you. And I hate Citibank, are you an associate? just curious. You don't have to answer any questions if you don't want to.

Worldweary, it really speaks to your strength and courage to get through what you have gone through and remain optimistic on a new start. May everything keeps getting better for you from now on!

Yeah Benedict (yawn...), that's really great.

Houdiniphile - You're awesome! Sears seems to be great organization, and I've been a fan for over 30 years. I'm just a customer who made a solemn promise to the Citibank managers who wouldn't waive my upcoming annual fee, that I would go out of way to publize how they personally slighted me. They called my bluff by saying "OK, do what you have to do", so here I am!

It's T-minus 41 days and counting, until those $50-$60 annual greed fees kick in for all Sears Cardholders. Is anyone at corporate doing anything behind the scenes to stop to clock? If not, are we all just waiting for the January Sears Mastercard massacres?

Yes it is funny. I had more than 22k limit in sears card. I have a monthly expense in sears card of about 1200 or so, but I pay off those each month.  Last month without my knowledge my credit limit was lowered to 1000 eventhough the total balance along with the approved pending charges was 1200. I wouldn't have known about the balance of I was not called by BB to confirm that the new charges did not go through. The reason was the debt to credit was to high. I have more that 100K of limit and the total debt is 13K. And funny thing is that out of 13K 11K is on CIti cards as I had 1.99% APR on that as balance transfer.