Sears trick and trying to get at customers with their promotion of one year no payment and interest.
First, I signed up for 1 year no payment/ no interest credit card to buy appliances. In addition, I bought a shoe for $3 while I as at Sears.
The thing is that I made sure by asking if I should pay it in cash or a clerk suggested me to use the card. So, I did. When the first bill came, I called Sears to make sure if I have to pay the balance because this is my first time signing up for promotion like this. And the representative said I should ignore all the balance if I signed up for the program.
Three months later, I noticed that the balance got really higher. In the following week, I got a notice letter saying that I am not paying the bills.
As soon as when I found out, I paid all the bill plus $1000 of finance charge.
But, the Sears reported to credit bureau for late payments. I tried to fight for it and I found out why my agreement for 1 year no payment/ no interest was cancel. The reason is why I did not pay my $3 for the shoes and the the whole agreement was canceled.
I never had a problem with credits till now.
Now, my credit score is bad because of it.
So, Please do not fall for the Sears's trap. Stay away from SEARS!!
Product or Service Mentioned: Sears Credit Card.
Monetary Loss: $1000.