Sears Master Card through CITI is using a very unethical & perhaps illegal method of "accuring" monthly interest charges. Any purchases or charges to their card after the statement closing date and before the payment due date are "monthly carry forward charges".
Sears apparent policy is the charge a "minimum charge" of $2.00, which is added to your statement. This has been confirmed with family members who were Sears card holders.
Sears policy as stated on the back of their monthly statement "We will not charge you any interest on purchases if you pay your New Balance by the payment date due each month. I suppose the "minimum charge" is not an interest payment according to Sears. There is nothing in their fine print on back of statement about this practice or that a "mimium charge" even exists.
Think of all the Sears credit cards in use & each card is being ripped off for $2.00 per month; a very nice profit
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