Credit Tips: Sears Credit Card Dispute
Posted On: April 1, 2005
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Post subject: To George about Sears dispute
cisco
Date: 11/26/2000 3:55 pm CDT
I have contacted Sears and they said that authorized user at Sears is reported to the Credit Reporting Companies just as they were the primary card holders. Otherwise they keep the authorized user equally responsible, In this case for a zero balance account.
They did close out the account after they learned about the bankruptcy
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GEORGE
Date: 11/26/2000 5:08 pm CDT
I can’t find it now, but the credit reporting agencies used to state what joint, individual, authorized, etc. means.
AUTHORIZED USER I THOUGHT SAID “AUTHORIZED USER,
NO CONTRACTUAL LIABILITY”
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Frank
Date: 12/27/2000 1:06 am CDT
Sears has a way of handling this type of issue. They cannot and do not hold authorized users responsible for the debts on their cards. In fact if you are an authorized user and request yourself removed you can also request a letter be sent to the bureau exonerating you from that account.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Board Monitor-CS
Date: 11/26/2000 5:42 pm CDT
Cisco,
You may find this article interesting….
bankrate.com/brm/news/special/20000414.asp
Take Care,
Casey L. Smith
cardrevolt.com
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Credit Tips: Sears Credit Card Dispute
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Post subject: Beware of Sears Roebuck
cisco
Date: 11/26/2000 2:50 pm CDT
I believe that Sear is vindictive. I had authorization on a Sears charge card. When the principal card holder declaired bankruptcy there was a zero balance on the Sears account. The card was not used at all for several months prior to this.
Suddenly my excellent credit ratings is down, and credit card companies raising my 9.9% interst to 16.9 or the 13.49% to 22.49 %. I have obtained my credit report from all fourcredit rating companies and it is the report from Sears.
Sears reported that the credit card was discharged in bankruptcy. It is not true Sears credit card was not included in the bankruptcy proceeding because of the ) balance.
Is there any agency I can go to to to resolve this problem?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
GEORGE
Date: 11/26/2000 3:18 pm CDT
DISPUTE THE CREDIT REPORTS.
DISPUTE WITH SEARS.
YOU CAN ALSO ADD A STATEMENT TO YOUR CREDIT REPORTS THAT SEARS WAS A BALANCE OF $0.00 SO IT WAS NOT INCLUDED IN
THE BANKRUPTCY…AND YOU WERE AN AUTHORIZED USER NOT THE PRINCIPLE CARD HOLDER.
IF YOU HAVE AN OLD SEARS BILL SEND COPIES FOR PROOF.
CALLS SEARS FOR PROOF THAT THE CARD WAS INCLUDED IN THE BANKRUPTCY (WITH A $0.00 BALANCE) AND WHAT % OF THE
$0.00 WOULD IT TAKE TO CLEAR THIS UP.
DON’T LAUGH…PEOPLE HAVE HAD TO SEND COMPANIES CHECKS FOR $0.00 SO THE COMPUTER CLOSES THE ACCOUNT BECAUSE IT
NEEDS THAT LAST PAYMENT!!!
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Ray
Date: 11/27/2000 9:18 am CDT
Yes, you can appeal to the Federal Trade Commission. You can locate them on the internet and they have a page for complaints. I believe you can find them under ftc.gov or ftc.org
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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