The Sears Store Credit Card is an average credit card offer for people with fair credit or better. The best things about the Sears Store Card are its
$0 annual fee, a minimum credit score requirement around 640, and monthly credit-bureau reporting. These features allow cardholders to build credit inexpensively.
There are some bad things about the offer, too, unfortunately. For one thing, cardholders do not earn rewards on purchases, which can only be made through Sears. In addition, the card’s regular APR is pretty high and its financing deals use
deferred interest.
Below, you can find a breakdown of the key things to consider when deciding whether or not to apply for the Sears Store Credit Card.
Sears Store Credit Card Review Highlights
$0 annual fee
This is standard for a store card but nice, nonetheless.
No rewards on purchases
The best store credit cards offer 5% back on purchases. With the Sears Store Card, you only get access to periodic discounts.
0% for 12 months on eligible purchases
This is what’s known as a deferred interest offer. That means interest will be charged retroactively from the date of purchase if you fail to repay the full balance by the end of the 0% introductory period. If you don’t pay in full on time, it will be like the 0% rate never existed.
29.99% (V) regular APR
When the card’s promotional rate is not in effect, interest will accrue at an annual rate of
29.99% (V) if you don’t pay your full statement balance by the due date every month. That rate is higher than average even compared to what other credit card offers for people with fair credit charge.
Fair credit needed for good approval odds
You can
check your latest credit score for free on WalletHub. For a good shot at approval, you’ll want a score of
640+.
Store Card option for people with higher scores
People with
fair credit or better might get approved for the
Sears Store Card, which can be used wherever
Store Card is accepted and offers rewards. Other than that, little difference exists between the Sears Mastercard and the Sears Store Credit Card.
Final Thoughts
Ultimately, the best thing about the Sears Store Card is its lack of an annual fee. This enables you to invest in your credit standing without putting any money on the table. But the Sears Card is far from the only vehicle for low-cost credit improvement. With that in mind, it’s probably best to take a pass. Nevertheless, if you’d like to learn more, you can find a full breakdown of this offer in our
complete Sears Credit Card Review.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.