Comments on: Sears Canada Credit Card Issue

By: Ciel

Ciel — Fri, 26 Nov 2010 18:24:12 +0000

dividend, not divident-sorry about the typo!

By: Ciel

Ciel — Fri, 26 Nov 2010 18:23:36 +0000

Last week, it was reported that Sears had a loss in their third quarter. http://www.thestar.com/business/earnings/article/892756–sears-holdings-reports-wider-q3-loss

The credit card service is run through JPMorgan Chase Bank, N.A. (”Chase”).

Now, since the appliance offer was do not pay and your wife believed to have met the terms within her then credit limit, see if your provincial consumer act says anything about advertising claims–you might be able to get some action that way.

As for the credit limit reduction, the way that was sprung was poorly handled by the company. But given the various postings about things are done by management at Sears, it must be about building shareholder value for divident returns.

Wish that Sears could see how its purchasing choices could be an issue-if the customers don’t like the merchandise (too tight, short, poor quality), the store could decide whether they want people to buy stuff that fits them and ditch their price points or go for cheapest quality that hits prices points. I’ve noticed a lot of catalogue only clothing tends to be at the higher price points (most of spring 2010 was not stocked in stores) and is not in stores. Fit can still be hit and miss as manufacturers each have their own sizing standards.

By: morganmom2

morganmom2 — Fri, 26 Nov 2010 01:46:22 +0000

they did the same to us! no notice. they said because of the deline in the economy???? whatever that means. they refused to reverse any charges.we cancelled our card as well and i will never deal with them again!

By: spider878

spider878 — Thu, 25 Nov 2010 15:49:38 +0000

Sears reduces credit limits without informing the customer about this. This happened to me as well. They don’t bother to contact you - they just do it. Specifically if you have not used your card in a while - it can be quiet the surprise! I would also recommend staying away from Sears because of this and other reasons.

By: jona

jona — Thu, 25 Nov 2010 15:14:24 +0000

actually Sally888 this is a common practice and not limited to sears. I had purchase a 58 inch plasma tv from the Bay with no payments/no interest for 24 months. Half way through they decreased my credit limit to $10.00 because of inactivity on the card… No notice or anything!
When I contacted them regarding this, they would gladly increase my limit again but would have to do a credit check! I was pissed not only did they cause me to take a hit on my credit score because of the reduced credit limit they wanted to ding my credit score again to return the credit limit to its original amount. I paid off the tv ( i had the money just letting it earn money in a high interest account) and told them to stick their credit card and I cancelled the card once the payment cleared.

To the OP, glad you were able to get the charges reversed, just chalk it up to a good learning experience.

By: Sally888

Sally888 — Thu, 25 Nov 2010 14:25:16 +0000

This doesn’t make sense. They dont just decrease the limit without informing you first.