![\"user-pic\"](\"/css/images/default.gif\")
I think you have bigger worries than your appliance debt if you're out of work for 12 months...
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-111564-100x100.png\")
@fantomesq: The point is that a lot of the reason people aren't buying these things in the first place is that they are worried about their jobs, so want to save the money. If they get the money back if they lose their job, it may look more attractive.
What about the accumulated interest?
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-21984-100x100.png\")
@balthisar: They will credit \"1/12th of the purchase price\" but I am sure that they will not count that amount toward your Sears card payment which will generate huge interest rates to them when people think this credit counts for a payment.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-307161-100x100.png\")
@balthisar: I think Sears usually does promotional 0% APR's on appliance purchases this large. If not, good point.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-394630-100x100.png\")
Knowing Sears, there will be some sort of fine print that will get them out of every single claim.
I remember when they would do stuff like the \"Kenmore Challenge\" scams. If you found an appliance with all the listed features, for less money, you could have the washer for free. Problem is, there was always a Kenmore exclusive feature (triple action agitator) which they contracted with Whirlpool to not put on any other washer. They do a similar scam with Craftsman tools.
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-570476-100x100.png\")
Keep in mind that the term \"unemployed\" only applies to people who are actively seeking a new job. You can't just sit on your butt for 12 months and get free appliances. ;-)
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-88249-100x100.png\")
I'm going to go buy a whole house full of new appliances, then spit in my boss's face and call his wife a whore
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-537475-100x100.png\")
But what if you barge the amount but it's paid off at the end of the billing cycle and you only put it on the card because of a discount or you already had it? And if you want or need that money back to cover bills I can't see Sears letting you return anything, even if you lose your job the day after you install that new dryer.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-770835-100x100.png\")
Only for appliances? What if I want a treadmill? I want to prepare for my joblessness
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-879037-100x100.png\")
@barb95: Dont buy a treadmill there. A good friend of mine just started her job in the fitness department of Sears. She says that when she sells treadmills/ellipticals/workout equipment (which is rare, because according to her, everyone is broke), 99% of the time the customer returns it because it is either a crappily made piece of crap, has missing parts that they wait months for the manufacturer to send, or it breaks the first time they use it. She says with her $6.00/hr plus commission, she stays broke, because if a customer returns a piece of equipment within 90 days, Sears takes the commission back out of her pay. Boooo to Sears!!!
NEVER TRUST SEARS -- ESPECIALLY WITH CREDIT CARDS. They defrauded my girl big time with the Sears card. She had purchased an item on it (to help her friend who was a store employee -- not worth it), paid it off immediately, and then 6 months later they send her to collections claiming she never paid it off and she owes late fees and interest. Of course they NEVER sent her any statements at all. She got a lawyer involved and disputed it with the credit bureaus, but eventually gave in and paid it (her lawyer sent them a letter threatening to sue if they bothered her again with it.) One is either owned by or in bed with Sears; I think it's Experian, but to this day it refuses to restore her good credit.
@chris_d: I find a lot of holes in your story (no offense). You say she paid off her purchase, all you needed to show the collections agency was a cancelled check or confirmation number/receipt if you paid online. I find a Sears credit card statement in my mail every month, and pay it immediately the next day. With the cancelled check, or online receipt, the lawyer should have won the case hands down. I would tell her to find another lawyer, she shouldn't have been forced to give up that money if she paid her bill.
@108Reliant: I agree. If they got a lawyer involved and still lost the case then something is fishy with the story.
After going to Sears this weekend to get some tools, I would be much more worried about Sears itself being around in 12 months. If my store is any indication, they're not going to be with us much longer.
Will the receivership judge honor this promotion? Will whoever buys Sears' credit card business?
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-81006-100x100.png\")
Department store credit cards is the worst line of credit you can own. With interest rates near usury, hidden fees and other ways to part you with your money, you're better off paying cash. My ex-girlfriend used to say that what she saved in sales she paid back in interest.
If you can't pay cash, you don't need it.
BTW: What is it with all these cat photos for story lines? I liek teh kittehs as much as anyone, but it's not Caturday yet.
I'm going to have to call bullshit on this one. Years ago, I worked as a bankruptcy attorney in Sacramento. Sears sent an attorney to contest any matter in which the party had a Sears card balance over a certain amount. I can't imagine they've stopped the practice.
This is pretty funny, since when I had a Sears credit card, they wouldn't give me a credit line over $350. When they wanted to charge me $25 a year for the 'privilege' of having this $350 line of credit, I told them to cancel the card.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-116599-100x100.png\")
Me: I'd like to buy the entire store please.
Sears: Huh?
Me: Just put it on my card. I'm employed.
Sears: Well, OK.
Me: Thanks!
Sears: No problem, Have a nice day!
Me: Hi, umm I just lost my job.
Sears: Sorry to hear that. We will credit 1/12th of the purchase price to your account.
Me: Thanks again!
One year later...
Me: Hi, I still don't have a job.
Sears: Ok the store is yours congrats!
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-93464-100x100.png\")
I have to let my sister know about this so she can buy all new appliances. She's been informed that she's going to be laid off at the end of July.
I already told her to buy a Hyundai. They pay you and you get to keep the car for a year then return it. Free lease!
They are obviously betting fairly heavily on a recovery, or at least on job losses easing soon.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-98962-100x100.png\")
@Robert Synnott: I think they are playing the numbers anyways. If unemployment doesn't expand more than %1-2 but they get %3-4 of extra sales on appliances then they come out ahead. If things improve that's even better.
I'm wondering what this could do to your credit score and limit with Sears or if a credit agency finds out you are unemployed . I've heard stories of people trying to renegotiate their APR and as soon as they tell them they are unemployed their credit limit was reduced . How much does a reduced limit affect your score ?
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-6171-100x100.png\")
There are people that have seasonal employment. When the season is over, they draw unemployment. So if I could get one of them to charge the robot lawnmower, I make the payments for a few months, they get laid off, don't have to make any payments again until they get re-hired in 6 months... I'll have gotten my robot for half price!
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-784011-100x100.png\")
Sears and fractions. I think not.
I hate sears credit card to. They are not customer friendly and are always charging fees and having to refund them because they should have not charged them in the first place.
Do not trust Sears Credit Card. My father had a card and thus one day received a bill for $4,872.76. Upon contacting Sears they claimed a second card was sent out and activated and thus he's responsible for the charges. Though he's in the process of fighting the charges they now want too blame me since we both have the same name and my account was closed in 2002. Sears credit are running scams so consumers beware.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-24204-100x100.png\")
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-1713-100x100.png\")
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-406602-100x100.png\")
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-570438-100x100.png\")
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-660502-100x100.png\")
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-18555-100x100.png\")
Sounds easy to game the system here. Must be plenty of fine print, and forget it if you're unemployed.
@winnabago: At 25% interestt and up, who needs the fine print?
@winnabago: not really, they refund 1/12th the purchase price, but interest, late fees, and any other fees they can scrounge up will still apply.