Sears Credit Card (CITI)
Undisclosed $2.00 Minimum Charge Added to Monthly Statements

Sears MasterCard through CITI is using a very unethical and perhaps illegal method of "accruing" monthly interest charges. Any purchases or charges to the card after the statement closing date and before the payment due date are "monthly carry forward charges."

Sears' apparent policy is to 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 the monthly statement, is: "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 the fine print on the back of the statement about this practice or that a "minimum charge" even exists.

Think of all the Sears credit cards in use and each card being ripped off for $2.00 per month. A very nice profit.

Company: Sears Credit Card (CITI)
Country: USA
Phone: 8006698488
Site: searscard.com

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