When my wife died a couple of yrs ago, we used our Sears MasterCard for everything because we accumulated rewards points. We both had accounts, and I continued using the card, unaware the card I was using with MY name on it was really her account where she was the primary. After about a year after her death, I tried to redeem about $500 worth of reward points I had accumulated but was told since it was on her account, and she was deceased, the $500 had to be forfeited. Even though I was executor of her estate and sole heir, they refused to honor the points. I got as high as I could up the ladder of M/C supervisors and promptly told her to close both accounts, and shove those cards directly up her ass! (not kind, I know, but she was being bitchy).
This is the way they treat cardholders of 40 YEARS! Not very smart since I was charging close to $20K/yr on the card. I will never use a M/C or shop at Sears ever again, and I tell everyone I know not to shop there because they SUCK!
Will it hurt my credit score? Probably, but it was at 821 last time I checked, and I haven't borrowed money in 25 yrs. I have a very comfortable retirement income, enough savings to last the rest of my life and my kids, too, probably.
So, I'm not surprised they are going under. Since being acquired by KMart, Sears has started carrying junk just like Kmart......cheap crap. Even the Craftsman brand tools are now cheaply made and inferior. I just can't help but laugh at the idiots who run this company. Losers!