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Sears card rate jack

New Contributor

Sears card rate jack

I just got a notice with my current statement that Sears/Citi is increasing my APR from 17% to 25.24%. A very nice representative has just informed me that they are doing that for all the accounts because of the change in lending practices. Don't we just love the current economy?

 

Btw, in May they increased my credit limit from 3000 to 3300. My credit scores are in excess of 750-760 (have not checked recently). My overall reported balance on all credit accounts 4-5% (PIF after reporting).

2 REPLIES
Moderator Emerita

Re: Sears card rate jack

Just got the identical notice today. This is currently the lamest of my lame cards, and other than trying to GW off a late, I really don't have much reason to keep it open.

Sears, you're circling the drain, babe...


eta: Mine's the Citi Sears MC, btw.
Message Edited by haulingthescoreup on 08-19-2009 03:44 PM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Senior Contributor

Re: Sears card rate jack

I cannot for the life of me figure out why Her Ladyship allowed herself to be suckered into app'ing for both the Sears store card and Sears MC in the store (on separate occassions) to get a lousy discount. What a waste. She could get anything and she ended up with this mess, I made her repeat five times out loud, "I will not app for a Target Card!"