Complaint Review: sears solutions credit card - Internet
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- sears solutions credit card www.searssolutionscard.com Internet United States of America
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- Category: Credit Card Fraud
sears solutions credit card i received a Sears Solutions MC 2 months ago....took it out mainly to help re-establish my credit after bankruptcy....these people are as unethical as they come! Internet
*Consumer Comment: Seriously...
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i took out the sears solutions card mainly to help re-establish my credit after bankruptcy....didn't expect to be approved, but was after first being declined for a regular Sears account.
the first month i paid the balance due...., but had made other charges that fell into the next billing cycle...
when that bill came i paid the balance in full again...this time clearing my account of any balance....this evidently was a problem.
i asked when applying for the card "if i pay the balance in full every month will i be charged any interest" the answer i got was "No", so that's what i have tried to do.
this time, they froze my account for 10 days, said it triggered my account for a fraudulent transaction because i paid the balance off and it was a large amount......i mean get real! who else is going to make a payment on my account....they're just upset because i paid the balance off and they can't legally charge me any interest...therefore they are not making any money off of me....my payment was made on the 24th of Sept....they received it on the 25th according to they're automated records....it actually cleared my bank on 9/28/09 and today is 10/6/2009 and my account is still on hold....how unethical is that?
i threatened to close my account, but after talking to someone at my bank was advised not to because closing it so soon after opening it would hurt my credit more...i will just continue doing the same thing once my card is released....charging a large amount and paying it off before the end of the billing cycle....that seems to upset them enough....and apparently is the only way i can get back at them....
i am thouroughly upset and the way they have treated my account....if anyone has been Fraudulent it is Sears Solutions HSBC!
This report was posted on Ripoff Report on 10/06/2009 10:04 AM and is a permanent record located here: https://www.ripoffreport.com/reports/sears-solutions-credit-card/internet/sears-solutions-credit-card-i-received-a-sears-solutions-mc-2-months-agotook-it-out-m-505091. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
Seriously...
AUTHOR: Robert - (U.S.A.)
SUBMITTED: Tuesday, October 06, 2009
Okay this is what I get from the Report.
You are using THEIR money to make purchases. You pay them back all of the money YOU borrowed(which is good and you need to keep doing it). So as a result they won't let you use THEIR money again for 10 days...What?
Then to get back at them you are going to continue to use the card? Yea that will really get them back, after all they are still getting a small percentage of the merchant fees.
Since you said you are trying to re-establish your credit, you are only going to get approved for Sub-Prime cards. They are really just trying to reduce their risk on the chance. They don't want you to charge up the card, "pay it off", charge it up again, and then have the first payment rejected(for what ever reason). And while you may not be doing this, the odds of a Sub-Prime card of this happening is greater than other cards. Unfortunately you have to show a consistent positive history before more standard cards will extend you credit.
You didn't mention about any Annual Fee but if they are not charging you one, on a Sub-Prime card this is rare and if the only complaint you have is that they put the funds on hold for 10 days that is minor. If they are charging you a fee, keep in mind other Sub-Prime cards that easily charge over $200 a year in various fees. Because they not only have a huge annual fee, but most have monthly fees that can be anywhere from $10-$15 per month.
As a side note, charging a "large amount" actually may not be the best thing. Because all credit cards(Sub-Prime or not) will report your High-balance(amount you spend). Even if you pay it off this tends to show you maxing out your card and can actually harm your score. A general rule is to never you more than 30% of your total credit limits. In fact putting less on the card may have the side effect of them not doing this restriction anymore.
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