The Sears MasterCard interest rates vary with the type of the card. With the basic type of sears master card the interest rates are high compared to the premium card. Premium card will be issued to the customers only after being a loyal user of the basic card i.e. you should be apt in making the payments without any overdue.
Sears MasterCard –Standard type
This type of sears MasterCard will be issued to those with a fair credit report and there is no age limit for obtaining this card. The maximum limit on this card is nearly $10,000. The interest rate on this card is 19.99%. The best part of this card is the customers do not have to pay any annual fee. But, there will not be any insurance benefits for this type of card holders. However, they can include the optional balance protection insurance at the cost of small fee. The users have to pay a monthly premium of $1.29 for every $100 of outstanding amount.
For every dollar spent on this card, the customers will receive rewards. For every dollar spent at sears stores 2 reward points will be awarded and 1 point for every dollar spent at other stores. The accumulated rewards can be redeemed either for a travel or vacation or for any sort of merchandise at sears stores. The standard Sears MasterCard holders are even eligible for special promotions which pave the path for obtaining more reward points.
Sears MasterCard- Premium Status
Standard Sears MasterCard customers who keep up with the payments can obtain the premium Sears MasterCard. The advantage of this card is that the interest rate is just 13.33%. However, this card has more to offer than the standard type. The premium card customers are entitled for better offers such as request to premier events which include shopping of new products and latest fashions before they are open for sale to others. This card which offers huge benefits can be used without any annual fees. The best part is that the card can be used anywhere, where MasterCard is acceptable and can even be used to withdraw cash at any of the ATM. However, use the card carefully as the finance charges will be very high if you fail to pay the outstanding amount within the time limit.
Lastly, as the Sears MasterCard interest rates are high on standard card be a loyal customer and obtain the premium card to enjoy lower interest rates and better offers.For US.