Sears Informative - Sears Credit Cards Rate Hike
NEW YORK, NEW YORK -- To everyone who has a Sears Credit Card and/or Sears Mastercard which both are financed through Citi. The rates will be going up on your next statement as of 03/18/09 and will show up on your March Statement. The rate increase will be Prime Rate + 19%. This will average your rate to be around 22-25%. As for many of you, this will be a drastic increase if you have held a low interest rate over the years. PLEASE CALL Sears Credit Cards at 800-669-8488 and TELL THEM you WANT TO OPT OUT of the new interest rates and that you want to keep your lower rate. WHEN you OPT OUT you are closing your account and you will keep the lower interest rate for the remainder of time you pay off your current balance. Please inform as many people as you can to start closing your SEARS CREDIT CARDS, this company has abused too many consumers with the jacked up rates.
Only in numbers and determination can we make a change against SEARS/CITI for their less than honest behavior.