Everybody, hear me out. Do not sign up for a Sears card or a Citibank card. It will cost you heavily.
This is our story. For three years now my wife and I have been wrestling with a Sears/Citibank card. We took it out at Sears because it seemed attractive, with a $3,000 limit when we were just starting out. From the very first day it has been a miserable saga of blunders and incompetence on their part, and we have no leverage.
Our first card came with a written promise of an 11.295% rate and one year without interest. They lied to us. The rate we got was 21.289%, despite a 790 credit score, no late payments, payments doubled every month, and several years of flawless history. That alone was annoying. We kept a close watch on each purchase. After we had made a few payments, the actual trouble began and they started charging us too much. About a year in, they cancelled our card for no reason. Spending hours arguing with representatives who could scarcely speak English, and getting cut off several times once their own lie was exposed, we managed to revive the account. But because they had done that, our account restarted, and before the year ended we were billed more than $300 in finance charges. They then charged interest on that finance charge, saying it applied to the month it was posted. We ended up with two massive interest charges. Worse, the interest was itself overstated. We still have no idea how they reached those amounts. We argued for several more hours, and they closed the account a second time. Each closure wipes out all the history on the account. So when the account was reopened again, they feigned ignorance, and we were told we were liars out to defraud them. Unbelievable.
And I am only getting started. Our rate is now 29.995%, and the limit fell from $3,000 to $2,800. My wife's credit is excellent! We have not skipped a single payment, always paid on schedule, and always paid beyond the requested amount, and we have paid the card off several times. So tell me why they treat us so rudely when we are model customers. People like us are what card issuers hope for. There is no justification. We are still contesting with Sears/Citibank the billing errors they keep making on the account. Talking to someone who is hard to understand, who interrupts mid-sentence and talks over you, is more than frustrating. After an hour or more of being disrespected and branded a liar or a bad customer, they get irritated and hang up. We are the ideal customers!
None of this has ever been settled, and for some reason we still hold the card. My plan is to keep using it, and when the points add up to a gift card, I will redeem it and discard the card. This company is useless. Getting a straight and clear answer out of these people takes real effort, and a fix for your problem will not happen. Even now, we are being charged interest on an interest charge that we already paid. They cannot explain the fees they have billed us, and once their lies are exposed, they cut the call. It makes me boil. Over and over they have exploited us. They have bled us dry and are pushing us to pay even more. You cannot squeeze apple juice out of an orange. We hardly have anything left. The interest is crazy, and I have heard it may go up again. Paying only the minimum will never clear the card, since everyone's rates have been hiked so much.
My parents' rate rose too, and they met identical trouble with these crooks. They drew on their HELOC to pay off the card, phoned Sears to cancel, and destroyed the cards. Even after the payoff, the company chased them for more money, claiming it was interest from that month. The dates did not add up. They were billing interest on money that had never been owed, after an additional billing cycle. My parents chose to pay what was demanded and move on, not fight. I would have refused. They told me a dispute was possible, but Sears/Citi would retaliate against their credit, making a fight pointless.
That is just the visible part of a much bigger problem. I will stop here, but I think the picture is clear. PLEASE, EVERYONE, LISTEN TO ME AND STAY AWAY FROM THIS CARD!
I am asking for someone to help shut this company down.
If any reader can assist us, we would be thankful, because our situation is dreadful. Someone has to take action against this awful company and the unlawful practices behind its business.
I hope this is useful to everybody.
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