You will want to see this Sears credit card review before filling out an application. While the Sears card does offer some useful benefits, there are some very ugly things about it that you need to know about.

clothes rack at department store
Whether you’re buying a Maytag refrigerator or just a pair of jeans, often the Sears sales associates are all too eager to peddle you a Sears credit card application. Sometimes, it can even seem as if they are more interested in having you apply for a Sears card than they are in your actual purchase! Why are they so eager to sign you up? Well, you’re about to find out why this credit card is such a money maker for them…

For starters, there are actually two different Sears cards:

Sears Card – This can only be used at places they own (Sears, K-Mart, Lands End)
Sears MasterCard – This can be use wherever MasterCard is accepted

And here's what's being said about them...
Unbelievable Interest Rates – One of the most frequent complaints about the Sears credit card is the unbelievably high APRs they carry. For example, at the time of this review the Sears Card has a staggering APR of 25.24%. Meanwhile the APR for the Sears MasterCard apparently isn’t published on their website, but according to numerous credit card reviews online, it also has a ridiculously high APR.

Horrible Customer Service – It truly is shocking to see just how many Sears credit card reviews rant on about their customer service department. After combing over hundreds of reviews throughout the net, I can say the alleged billing practices and tactics employed for dealing with customer complaints are truly shocking. Ironically, I saw many negative complaints on Sears very own “MySears Community” with one user summarizing it as “Customer Service so poor it makes the DMV look good.”

Crappy Rewards – Apparently the Sears Choice Rewards Program is only offered on the Sears MasterCard. I see no mention anywhere of the regular Sears Card offering it, however it doesn’t sound like they’re missing out on much, because the Sears MasterCard lists only 1 point per dollar spent. And as we all know, just about every credit card these days offers rewards of similar value, so this is far from impressive.

Few Benefits – While comparing the Sears credit card, the literature lists a bullet point listing of “Key Benefits” offered on each card. However to be quite honest most of them sound like nothing more than fluff. For example, things like protection against unauthorized purchases and additional users at no extra charge are things we come to expect from even the most basic credit card these days. There was one thing that sounded interesting which was finding out your credit score for free, but that benefit alone hardly warrants applying for the Sears card.

Deferred Interest Tricks – Sears credit card holders often get bombarded with various financing “deals” and one of which is the deferred interest offer. For example, they may advertise something like “no interest, no payments, for 12 months” which may sound like a great deal, but once you understand how it actually works you’ll think different...

Interest starts accruing from day one of the purchase. If you pay pay 100% of it off before the promo period ends there will be no interest charged. But if you don’t pay back the full amount – every penny – you’ll have to pay a small fortune for all the back interest on that “deferred interest” period on the entire purchase price (and remember how high their APRs are).
Verdict?
Pitiful rewards, outrageous interest rates, and dreadful customer service? It’s hard to find one good reason to apply for the Sears credit card.

last updated April 2011