Sears Gold MasterCard / Ridiculous Late Penalty

Sears Gold MasterCard / Ridiculous Late Penalty

August 15, 2005

I was persuaded to open the Sears Gold MasterCard when a product was purchased. For the first monthly statement of $93.75, the delivery of my check was delayed a couple of days as I was out of town on summer vacation. The second monthly statement included late penalty plus finance charge that are almost 42% of the balance I paid off. I pleaded with reps at the customer service center to waive the late penalty by explaining the situation I faced in vain. All reps showed no sympathy for my pleas by emphasizing the terms and rules on the credit card, which SHOULD be applicable to any cardholder who delays the payment by even ONE HOUR. Is this a common practice for all credit card companies? I know many retail stores and credit card companies that truly care about the wellbeing of their clients. J. Click this link to e-mail the message author: Email User