It's interesting that SEARS is registered as a Canadian Bank... IE SEARS CANADA BANK PL

They charge 28.8% because it makes them money!! I would hope that they trying to offset their poor retail sales with the credit card interest revenue.

The problem with SEARS being a bank is that they're regulated federally and not provincially.. if you've got a problem with them you've got to go to the federal government to complain.

Sears card disclosure statement
At 28.8% interest, this is one evil credit card.