I'm not a huge proponent of credit card usage. I use credit cards for business on an as needed not as wanted basis. About a year ago the customer rep at Sears suggested I get a Sears card to save a certain percentage off my purchase. She also apprised me of the benefit that I wouldn't have to pay for 3 whole months! Wow...I thought...the 5% off was pretty decent for a $1100 purchase, I figured I could use that savings on treating the family to dinner....the 3 months deferred payment was neither unappealing or appealing, regardless I stupidly said...OK, let's do it.
As most of us have busy lives, I marked down when my deferred payment plan was due. Two weeks upon approaching the deadline I paid it all off in one lump sum. About 8 months went by and I applied for a mortgage and my credit score wasn't the best because of my Sears Card. Apparently the deferred payment plan was not a true deferred payment plan but rather an equal minimum monthly payment plan. I got screwed with my credit because of a lousy $1100 hoodwink for a Sears Card.
To that end, I have found out from other Sears card holders that as soon as you are one month late, your reported to the credit bureau. To that end I was recorded as 3 months late. Bottom line message, who needs the stress of worrying about when you have to pay or what the terms are. Pay by cash or debit or use one card and manage it diligently.
Thanks Sears Credit for nothing but headaches and a tainted credit record for something I could have paid off right away with cash.
By the way, Sears now has lost thousands of dollars worth of my lifetime business because of their militant, stringent and deceiving credit policy. Whether the customer service rep was misinformed or not, their credit office made no attempts to appease my frustrations. I found the credit rep to be unapologetic and numb minded with a limited comprehension of the English language.
SAYONARA Sears.
No comments:
Post a Comment