Citibank Sears Credit Card Sears card account closed - never been late, no late payments, never over limit Internet, Internet
I have had a credit account with Sears for many years. I went through a rough time a couple years ago and defaulted on two other credit cards. I made sure during that time that Sears was always paid on time..and when i got back to work i even paid minimum due plus whatever the interest was to get the credit available down. When i didn't get my new Sears cards in the mail, i called to find out what happened only to be told my account had been closed. Why? I had a deliquent account with another creditor. What? My remaining open credit accounts (all of 3) have high balances which raises my credit ratio and lowers my credit rating. So i repeated the question to the Citibank agent.."how can you close my account when for over 12 years i haven't had a late payment, never been over my limit and have never had a single problem with my account. My account balance is in fact because i purchased many Kenmore appliances over the years. So every way you look at it, I was giving money to Sears. But their loyalty to customers does not exist. I was told there was nothing i could do and then rubbed salt in the wound by saying they would still send a statement each month and if i didn't pay them, they would turn it over for collection. Wow..thank you Sears! I won't walk into another Sears, Kmart or other store they own ever again. So much for the department store I grew up loving and gave so much business.
3 Updates & Rebuttals
smartprov
Crown Point,Indiana,
USA
Please pay your balance due
#4Consumer Comment
Sun, October 16, 2011
I must advise you that Citibank (South Dakota), N.A. has a purchase security interest in all merchandised with the Sears branded card. If you chose not to pay the balance owed Citi, they may sue you, win the suit and pursue you for the merchandise by repossessing all of it, selling the items and also seek a writ on garnishment on the balance.
Citi does not mess around with unpaid balances but will work with you on a fair payment arrangement on accounts. They do not sell their delinquent accounts to third parties. They now use in-house litigation services to collect and pursue debtors. Please take my advice and work with Citicorp Credit Services today and call toll free at 1-800-274-6660.
This will help you temendously!
Ken
Greeley,Colorado,
USA
While I see your concern on this...
#4Consumer Comment
Tue, October 11, 2011
.."how can you close my account when for over 12 years i haven't had a late payment, never been over my limit and have never had a single problem with my account.."
NO COMPANY is required to provide credit of any kind to you or anyone else.
"But their loyalty to customers does not exist.."
It is a business transaction, not a personal friendship and "their loyalty to customers", is strongest with those the are confident will pay them in full, as agreed.
With your credit history, Citibank/Sears card likely felt at some point you may default with them.
"....and then rubbed salt in the wound by saying they would still send a statement each month and if i didn't pay them, they would turn it over for collection.."
Why wouldn't they still send you a statement each month and expect payment?
They have every right to protect their interests and cannot take into account any problems you're having.
Keep working to repair your credit and get back in good graces with creditors.
Bottom line..this is NOT a Ripoff of any sort.
Robert
Irvine,California,
U.S.A.
You really wonder why?
#4Consumer Comment
Tue, October 11, 2011
You don't really seem to understand credit at all. The first thing you have to realize is that a Creditor is granting you the privilege of borrowing THEIR money. Because it is THEIR money, they can decide to no longer allow you to use this credit line if they want, and they really don't even need a reason.
But in your case the reason is obvious. You defaulted on two credit cards and you have a high debt to limit ratio on your other three. Good credit is not built on one card. It is built on your entire history, and your entire history shows you can't handle credit. As a result they re-evaluated your credit and no longer want to take a risk on you.
As for you needing to continue to pay the bill, they are right. Because that is money you have already borrowed and agreed to pay back. So if you do not pay it back you will have 3 credit cards in default, and the odds of at least one of them filing a suit against you is pretty good.
Don't be surprised that if your other credit cards "re-evaluate" your credit and decide to do the same thing.