topic Re: SEARS MasterCard!! in Credit Cards

SEARS MasterCard!!

GABrown — Sun, 04 Nov 2012 21:12:48 GMT

Question: Does anyone have this card or have you heard of it? I went to Sears yesterday and this lady stop me and explained this card to me. Used my will power and restrained from applying but the one thing that's was tempting was that she said they are targeting people that needed to rebuild their credit. Once I got home I was tempted again and went online and looked at the card but I didn't see the rebuild credit part and it also said apply in store only.

Just curious

Re: SEARS MasterCard!!

LS2982 — Sun, 04 Nov 2012 21:18:25 GMT

@GABrown wrote:
Question: Does anyone have this card or have you heard of it? I went to Sears yesterday and this lady stop me and explained this card to me. Used my will power and restrained from applying but the one thing that's was tempting was that she said they are targeting people that needed to rebuild their credit. Once I got home I was tempted again and went online and looked at the card but I didn't see the rebuild credit part and it also said apply in store only.

Just curious

Pretty sure this is not a rebuilder card, its backed by Citi.

Re: SEARS MasterCard!!

injustifiiable — Sun, 04 Nov 2012 22:10:16 GMT

I used to have one, but it was before Citi purchased Sears National Bank. I was dumb and stupid and went bad on it...thankfully it's all paid now.

Not sure what the new deal is now that Citi manages it.

Re: SEARS MasterCard!!

jsucool76 — Sun, 04 Nov 2012 22:31:42 GMT

@LS2982 wrote:
@GABrown wrote:
Question: Does anyone have this card or have you heard of it? I went to Sears yesterday and this lady stop me and explained this card to me. Used my will power and restrained from applying but the one thing that's was tempting was that she said they are targeting people that needed to rebuild their credit. Once I got home I was tempted again and went online and looked at the card but I didn't see the rebuild credit part and it also said apply in store only.

Just curious
Pretty sure this is not a rebuilder card, its backed by Citi.

~~but you can apply online~~

https://www.citibank.com/us/cards/srs/

Edit: Just re-looked at that link, you can only apply for the sears STORE card online, my bad!

Re: SEARS MasterCard!!

Jazzzy — Sun, 04 Nov 2012 22:42:29 GMT

We started out with a Sears card years ago. At some point it morphed into a Citi Sears MasterCard. We keep it only because it's one of our oldest cards (1989). It has a 3k limit...also our lowest. I asked for a CLI once and was declined...supposedly because they said we had just asked for a CLI...which we had not. They just don't seem very bright or aggressive in the credit card market.

So, we charge our Netflix monthly fee on it just to show activity and just to keep it aging. Otherwise it sits.

Re: SEARS MasterCard!!

Creditaddict — Sun, 04 Nov 2012 23:34:33 GMT

The Sears Mastercard this person spoke of to rebuild is if you apply in store for the Store Card I believe it is (backed by Citi and the MasterCard that you see online and in store promotions is also backed by Citi) HOWEVER if you don't qualify for the card you apply for in store, the system will counter this Sears Solutions MasterCard. (VERY much like Best Buy USE to do.) This Solutions MasterCard was with HSBC and probably Capital One now and it will have a $300 limit or $500 limit starting pretty much standard and probably some sort of tiered AF. RUN!

Especialy since this is Capital One now, I would be scared you apply and take pull from Citi, then when it sends over for plan B. Capital one hit all 3?!

I had it long ago and closed it SHORTLY after.

Re: SEARS MasterCard!!

Epcot — Mon, 05 Nov 2012 01:47:28 GMT

Had a store card that was converted to the MC not too long ago. Hardly use it.

Re: SEARS MasterCard!!

youngandcreditwrthy — Mon, 05 Nov 2012 02:13:20 GMT

Lol anything Citi backed is NOT for rebuilding!!!! More like getting denied for. Citi is a stickler and their cust service is typically poor.

Re: SEARS MasterCard!!

mt2va — Wed, 07 Nov 2012 22:59:26 GMT

I had both. The regular Sears store card is backed by Citibank. The Sears Solutions Mastercard was backed by HSBC (which I guess is now Cap 1). I got the Sears MC first. My credit was really bad at the time. I think I had $300 credit limit. Funny thing is about 2 months later I got $1,700 credit line on the regular Sears card.

I will also say my mom has a Sears MC that has like $5,000 or $10,000 credit limit and I'm pretty sure it's a different one than the HSBC backed one I had. I'm guessing hers is backed by Citi.

Re: SEARS MasterCard!!

Anonymous — Wed, 07 Nov 2012 23:06:05 GMT

+1 @ youngandcreditwrthy

Re: SEARS Mastercard!!

sccredit — Thu, 08 Nov 2012 00:24:06 GMT

If you go to solutions.partnercardservices.com it will take you to a site "Powered by HSBC" and has a disclaimer that "This card is issued by Capital One"

If you look at it simply as a rebuilder and use it as one you'll be OK. If you are looking for something that you'll keep for a long time, rethink it and look at a secured card at a credit union.

Re: SEARS Mastercard!!

BearsAndTurtlesRtheBest — Thu, 08 Nov 2012 03:03:48 GMT

EITHER WAY SEARS PLATINUM MASTERCARD IS NOT THAT GREAT THEIR REWARDS ARE RETARDED LIKE NO TOMMOROW. Its more of a keep in case you fall off your stairs and need it for the emergency room. Their are other great Cards issued by CITI. #Justsayin

Re: SEARS MasterCard!!

750hunting — Thu, 15 Nov 2012 18:41:54 GMT

@youngandcreditwrthy wrote:
Lol anything Citi backed is NOT for rebuilding!!!! More like getting denied for. Citi is a stickler and their cust service is typically poor.

+1
Yeah, tell me about it. I wish I had seen this thread a week ago. Just recently app'd online for the store card, was looking for a kmart store card since I am in first steps of rebuild thought I didn't need to go to the Sears store because I was not app'ing for visa or mc. Thought I might have a good chance for the store card. Well I got the 30 day message, so today I called to get status and the rep who answers starts this whole speel about getting my free annual credit report. yada yada yada...We reviewed your EXP reported and this..this.. this.. is on your report. I felt like I was being scalded for being bad. No, actually it felt like she was saying " how dare you app for this card with your credit report. Well you must be stupid and I need to teach you how to understand your credit ."

Or, maybe I am overly sensitive this morning but either way this experience will be remember when I am in good shape creditwise. No Thank You Citi!

Re: SEARS MasterCard!!

injustifiiable — Thu, 15 Nov 2012 19:57:13 GMT

I wish I wasn't stupid in my younger days...I'd have a Citi card now at least...hahah.

But after hearing some of the horror stories, I'm not too disappointed about not having a Citi account.

Re: SEARS MasterCard!!

Terry76308 — Sat, 14 Jun 2014 02:45:33 GMT

@GABrown wrote:
Question: Does anyone have this card or have you heard of it? I went to Sears yesterday and this lady stop me and explained this card to me. Used my will power and restrained from applying but the one thing that's was tempting was that she said they are targeting people that needed to rebuild their credit. Once I got home I was tempted again and went online and looked at the card but I didn't see the rebuild credit part and it also said apply in store only.

Just curious

I have found that the Sears Mastercard is an excellent card for 0% offers only if the balance is paid in full before the promotional ends. For example, I have had to replace a refrigerator, washer/dryer and having the option to pay over time without paying interest has certinaly come in handy. From what Citi has told me, those with excellent credit qualify for the Mastercard version and those with good credit qualify for the store card. The clerk in the store ended up submitting my application for both for which I was approved eventhough there really was no need for two accounts. Anyway, the damage is done and I guess keeping both accounts for a while is an option. So, to answer your question, the Mastercard verson is not a rebuilder at least the one issued by Citi Bank.

Re: SEARS MasterCard!!

One7 — Sat, 14 Jun 2014 03:15:10 GMT

Maybe they get some kind of bonus for getting people to apply or approved for one and the person was just saying what he thought you wanted to hear. Citi-backed cards are definitely not a card for rebuilding though.

Re: SEARS MasterCard!!

SomeGuyOnTheWeb — Sat, 14 Jun 2014 03:41:53 GMT

Which one? There are two. The SEARS store card and the SEARS Mastercard? Imo, neither are worth it. The interest rates on them are usually sky high and the promotions they run are few and far between (0% interest for a specified period of time on either specfic purchases or the renewal protection agreements).

Re: SEARS MasterCard!!

Skye12329 — Sat, 14 Jun 2014 04:54:24 GMT

I actually work at sears. The card isnt for rebuilding credit. I will tell you now the cashiers prey on everyone. It is run by Citi Bank. However if Citi cannot approve you then Barclays may offer you a card with a AF. The cashiers also get paid for every application even if its declined.

Re: SEARS MasterCard!!

Creditaddict — Sat, 14 Jun 2014 05:06:13 GMT

@Skye12329 wrote:
I actually work at sears. The card isnt for rebuilding credit. I will tell you now the cashiers prey on everyone. It is run by Citi Bank. However if Citi cannot approve you then Barclays may offer you a card with a AF. The cashiers also get paid for every application even if its declined.

Barclay backs a 2nd tier Sears MC Now??

Re: SEARS MasterCard!!

DieGo2SHAE — Sat, 14 Jun 2014 05:10:23 GMT

@One7 wrote:
Maybe they get some kind of bonus for getting people to apply or approved for one and the person was just saying what he thought you wanted to hear. Citi-backed cards are definitely not a card for rebuilding though.

This is the reason. I used to work at Sears at we get paid for each application we process, same amount for both the MC and store card, whether they're approved or not. However, you also get in trouble if you dont process enough applications per certain number of transactions (and not by dollar amount, but just by the number of transactions, so have fun trying to convince someone to open a credit card when theyre buying a pack of gum!) so everyone would make up a bunch of crap to try to get people to apply for the card. And if youre gullible enough to say yes, you'd better believe we'd casually suggest that you apply for the second one 'at the same time since it only takes a few seconds longer'.

Basically, unless you know for certain that what the clerk is saying is true, be wary. Or just look for a better card to apply for because the Sears MC sucks anyways =P