Complaint / Review
Sears - Citibank
Credit Card Account Interest Rate Gouging ripoff Chicago Illinois

I have been a customer of Sears for over 30 years, and spent a substantial amount of money with them over that time.

In the last 2-3 years, I have noticed that the interest rate on my Sears account has been gradually creeping up, to the point that it is now at or near usury (the maximum allowable by law) for my state.

I contacted Sears about lowering my rate, since I am and always have been a customer in good standing. They responded by saying that "We do not have any offers currently available with lower interest rates."

I responded back, once again mentioning that I was a long time customer and that I could easily find most of the merchandise in their stores at elsewhere, but I preferred to continue to do business with them.

Again, a response saying, "We have made note of your comments in your file. Thank You."

So Sears does what they can to rip off the consumer by charging the highest possible interest rates, and rips off loyal customers who give them business over many years.

I will be visiting the store tomorrow to pay off the remaining account balance and close my account. It will be a surprise if anyone makes an effort to talk me out of it.