OK they tried to burn me back in the 1970s when I was a poor Grad student- I cut up my card and never looked back. Last year when we moved to Texas my wife wanted a Kenmore Washer and dryer so I gave in and she opened a new account and we purchased those on a promotion- no interest for 12 months IF PIF ...(but it's deferred interest). I also bought a lawn tractor on 9/20/12 but it wasn't delivered until 10/20/2012 (backordered) BUT our promotional deadline was still left as 9/20. Just learned today I have 5 days to pay off the $620.11 balance or face >$290 in interest fees (on the mower) ! I've bought other items from them but I find most of my extra payments went to those purchases and not to pay down the promotional portions !!
I've spent close to $5000 with them the past year and this is the way they treat FSCK you !!??

So Sears again is history with me ! FSCK EM !! mad mad mad mad mad

LETTER :

Dear Sir:

I am closing my Sears MasterCard account (Cardmember: DLCox; account ending in: 0000) primarily because of the way you do business. A year ago, my wife and I relocated and bought a washer and dryer, and a lawn tractor on our Sears account. The total was over $4000, however our credit limit at that time was only $4000 (even though we have ~$1 million in assets and 401(k)s- and a credit rating over 725) so we paid the extra in cash. Washer and dryer was purchased on or about September 2, 2012 and the lawn tractor on September 20, 2012. The lawn tractor was back ordered and was not delivered until the third week of October some time around October 20, yet our promotional deadline was still set at September 20 and never adjusted. I DID NOT have the merchandise in hand on Sept 20th !! Furthermore, in the past year, I've paid more than $4000 into my Sears account. So my promotional balance should be $ 0. However, I just recently learned that part of the payment that I was making above the minimum did not go to the promotional balance but rather our revolving balance. In addition, the operator told me that all payments went to pay off the lowest interest portions of the account before they went to apply to the higher interest or promotional parts of the account. This obviously shows that Sears is only out for themselves and doesn't give a "hoot in hell" about their customers nor their customers financial interests. I will not do business with scam artists. You're clearly being deceitful and dishonest about how you handle people's account so that you can trigger the 12 or 24 month deferred interest. One has to go out of their way even when they're making consistent and substantial payments to be sure they don't get burned. How convenient is it for me, the customer, that every time I make a payment I have to call Sears and tell them where to apply the money? That is a pain in the ass !!

I have seen these types of business practice before from Sears back in the 70s when I canceled my card then, and this is exactly why your Corporation lost great prominence in the 80s and 90s because people got fed up with this type of business behavior. Keep this up and I think you'll go the way of JC Penney. The only thing that saving your bacon right now is the Kenmore line and the Craftsman line. If you didn't have those, you would be a ghost town. But I can live without both in the future; youíre not the only store in town.

Sincerely,
David