Credit Cards

[m_jonis]

This is regarding the Sears Store card, not the Mastercard. Is it just me or are they super stingy about CLI? First, it's really Citibank (so I guess that's why they're so stingy). Every time I've applied for a CLI (current CL: 3,620.00), I've been denied. NEVER a late payment I only use it for the special financing purchases. FICO is currently 704 Anyone else have good luck with them? It wouldn't be so bad but they only do hard pulls on the credit reports.

[lightnin67]

They just converted mine to a Sears MC,didnt ask for it,they also raised my limit from 900 to 2000.My scores are high 600's.

[fused]

My DW and I have similar complaints about Sears, more so with the outrageous APRs, rate jacking, lousy customer service, phantom 30-day lates (when the account was actually only 3-5 days late). In reality my DW has a perfect payment history and very high FICO's yet Sears never budges.

[cheddar]

Yep, they are stingy.  I've posted before about STBDW's experience with Sears MC CLIs.  All scores over 750, 9 years perfect history with the card, no lates on anything ever.  She got her first CLI from $3900 to $5100.  After 9 years.  (BTW, she requested $7K.  Got $5100.  Did I mention 9 years?)

[marty56]

So it seems that Sears, like Wells Fargo marks a payment as 30 days late if you pay after the next statment date regardless of the humber of days it is actually late.  This happend to me 4 years ago and when I called about it, they told me that was there policy and it been on my CR ever since.

For 30 days late, I would probably leave it be and put the Sears card in the sock drawer.  I never want to have to find out what a company's 30 date late policy.  As I found out to my sorrow, late is late.

[fused]

No, this is what I mean. Let's say you have a statement dated 09-03-2007 and a due date of 09-24-2007 and pay it on 09-28-2007. This is 4 days late not 30 days late. Yes late fees might apply but they cannot report this as 30 days late. Sears has done this to people I know well. It's total BS!

[marty56]

If you paid on 9/28 and the next statment was 10/03 as long as the payment was listed on the new statement I am suprised that they would mark it 30 days late.

It seems to me that there must some some guidance on how CCC can put late payment info into your CR otherwsise they could say the payment was 90 days late.

Sounds like 30 days late to Sears means up to 30 days late.

[haulingthescoreup]

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fused wrote:

No, this is what I mean. Let's say you have a statement dated 09-03-2007 and a due date of 09-24-2007 and pay it on 09-28-2007. This is 4 days late not 30 days late. Yes late fees might apply but they cannot report this as 30 days late. Sears has done this to people I know well. It's total BS!

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You could even argue that it's not even 30 days from the time that the statement was cut, so it couldn't possibly be 30 days late.