Projo Biz Blog

Following the lead of automakers and other companies, Sears (SHLD:NYSE) said Tuesday it's starting a buyer-protection prgram for customers who lose a job after buying a home appliance at the national retail chain.

The program runs from Monday through Aug. 1. It covers appliance purchases of more than $399 made on a Sears credit card. Cardholders must have held a full-time job for at least 60 days at the time of the purchase.

Under the program, Sears will credit 1/12th of the purchase price to the account for each month the cardholder is out of work. If the person is still out of work for a year after the purchase, he or she will receive a credit for what's left of the purchase price and still get to keep the appliance without any further payments.

 Tags  consumer Sears

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