Sears Gold Mastercard
2.9% Balance Transfer Ad but 21.9% Rate Quoted After Approval

A few months ago I was passing through Sears at Great Northern Mall where I saw a sign that advertised a 2.9% rate on balance transfers on Sears Gold Mastercard. I am currently working myself out of debt, so it looked like a good deal to cut out some of the interest.

I applied and was approved, thinking that I would have the low interest rate. I waited a week, got the card in the mail, and went to activate it. I activated it and went over to their balance transfer department. I asked what my balance transfer rate would be, which I got the reply of 21.9%. That's a 19% difference. Fortunately I never transferred any balance nor did I make any purchases, so I closed the account.

Be wary of any offers for low-rate balance transfer offer.

Company: Sears Gold Mastercard
Country: USA
State: Ohio
City: Cleveland

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