Sears Expands Its Payment Offerings With a New Monthly Payment Plan

HOFFMAN ESTATES, Ill., Oct. 20 /PRNewswire/ -- As budget-conscious consumers continue to look for ways to manage their spending this holiday shopping season and beyond, Sears today announced a new payment option to its existing suite of financing solutions – the Sears Monthly Payment Plan(1).

The new plan offers a more controlled form of borrowing for shoppers who want to avoid unexpected finance charges. With a low APR and a fixed monthly payment over 48 months, the Sears Monthly Payment Plan allows shoppers to buy what they need and still manage within their budget.

"We recognize the importance of offering customers a wide selection of payment options at the checkout," said Susan Ehrlich, president, Financial Services, Sears Holdings. "Our customers are still very mindful of how they are managing their spending and continue to look for ways to maximize their budgets. The monthly payment plan is a smart shopping solution that makes it more affordable for customers to pay for large purchases."

Sears will launch a national marketing campaign through this Holiday season to raise awareness of this new offering, including placement in circular advertising and a television commercial featuring Home Appliances. "With the addition of the Sears Monthly Payment Plan, Sears now offers its customers the most payment options of any national appliance retailer, giving customers the most flexibility this holiday season and beyond," said Doug Moore, president, home appliances, Sears Holdings.

From the new monthly payment plan to its extended layaway program and credit card offerings, Sears offers shoppers more ways to pay for big-ticket items such as home appliances, consumer electronics, sports and fitness equipment and more. The Sears Monthly Payment Plan is available for qualifying purchases of $750 or more and is subject to credit approval.

For more information about the plan, visit http://www.sears.com/morewaystopay.

About Sears Holdings Corporation

Sears Holdings Corporation is the nation's fourth largest broadline retailer with approximately 3,900 full-line and specialty retail stores in the United States and Canada.  Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, consumer electronics and automotive repair and maintenance.  Sears Holdings is the 2010 ENERGY STAR® Retail Partner of the Year. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands.  It also has the Country Living collection, which is offered by Sears and Kmart.  We are the nation's largest provider of home services, with more than 12 million service calls made annually.  Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation.  For more information, visit Sears Holdings' website at www.searsholdings.com.  

(1) *Sears Monthly Payment Plan financing is provided by GE Money Bank.

SOURCE Sears Holdings Corporation

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