SEARS REVOLVING CHARGE ACCOUNT
AND SECURITY AGREEMENT
Sears, Roebuck and Co., Kansas City, Mo.
In consideration of your sel ling merchandise and serv–
ices for personal , fam ily or household purposes to me on
my Sears Revolving Charge Account, I ag ree to the fol–
lowing regarding all purchases made by me or on my
Sears Revo lving Charge Account Identification :
1. I have the privilege of a Charge Account, in which
case I will pay the fu ll amoun t of all purchases with in
25 days from the date of each bill ing statement.
2. If I do not pay the full amount for all pu rchases with in
25 days from the date of each billing statement, the
following te rms shall be in effect:
(A) I will pay the Deferred Payment Price for each
item purchased consisting of:
(1) The cash sale price, and
(2) A FINANCE CHARGE, which will be the greater
of a minimum charge of 50¢ ; or an amount de–
termined by applying a periodic rate of 1.5%
per month (ANNUAL PERCENTAGE RATE of
18%) to the first $500.00 of the previous bal–
ance and a periodic rate of .75% per month
(ANNUAL PERCENTAGE RATE of 9%) to any
part of the previous balance in excess of
$500.00. FINANCE CHARGE is based upon ac–
count activity during the billing period pre–
ceding the current billing period, and is
computed upon the previous balance (new bal–
ance outstanding at the end of the preceding
billing period) before deducting payments and
credits or adding purchases made during the
current billing period.
(B) I will pay for all purchases in monthly installments
which will be computed according to the following
$350.01 to $400.00 $30.00
10.01 to 200.00 $10.00
400.01 to 450.00
200.01 to 250.00
450.01 to 500.00 40.00
250.01 to 300.00
300.01 to 350.00
I will pay each monthly installment computed according
to the schedule as stated at left upon receipt of each
statement. If I fa il to pay any installment in full when due,
you may, at your option, take back the merchandise or
affi rm the sale and hold me liable for the full balance on
my account wh ich shall be immediately due. Ownership
of the merchandise purchased on this account shall
rema in in Sears until I have paid the purchase price in
full. My installment payments shall be appl ied as follows :
in the case of items purchased on different dates, the
first purchased shall be deemed first paid for ; in the
case of items purchased on the same date, the lowest
priced shall be deemed first paid for. I have risk of loss
or damage to merchandise.
(C) You are to send me a statement each month wh ich
will show my previous balance (last month's new
balance), new balance, scheduled paymen t,
Finance Charge, purchases, payments and cred its,
and the amount of my monthly installment coming
(D) I have the right to pay off all or any portion of my
account in advance.
3. You are authorized to investigate my credit record
and report to proper persons and bureaus my per–
formance of th is agreement.
NOTICE TO BUYER: Do not sign this contract before
you read it or if it contains blanks. You have the right to
pay in advance the full amount due.
ACCEPTED, SEARS, ROEBUCK AND CO.
To open a new Sears Revolving Charge Account, residents of Missouri should read
and sign the above agreement and return it to us together with the credit information
requested on page 266. When your application is accepted, we will send you a copy
of the agreement for you to keep.
Residents of Arkansas, Colorado, Iowa, Kansas, Nebraska, New Mexico, Oklahoma,
Utah and Wyoming should complete and return the credit information requested on
page 266. When your application is accepted, we will send you a copy of the agree–
ment to sign and return to us, together with a copy for you to keep.