Well, I made the last payment on my Sears MasterCard two days ago. The Sears saga is OVER.
The calls about the bed stopped in November 2010, and now the chair is paid off; I own it free and clear. I’m also proud to say that since the time this whole fiasco started I’ve only bought ONE thing at Sears (it was a $140 Paderno Wok that was marked down to $29.99 I CAN’T RESIST A DEAL LIKE THAT). I avoid Sears like the plague when I’m in a mall now.
Initially, I swore up and down backwards and forwards that once that final payment was made, I would cut up the card and cancel the account. However, since I’ve started reading personal finance books like a madwoman, I’ve decided to keep the card because I’ve had it since 2008 and have a great payment record. Cancelling that card would delete a portion of my (pristine) credit history and I’d like to keep that intact. I would not be surprised in the least if they charge an inactivity fee, so if that is the case then I will cancel the card.
One thing is for sure though, I am never shopping at Sears again.
