RIVERWOODS, Ill. -- Sears, Roebuck and Co. announced the first reduction of the interest rate on its Discover credit card.

Early next year, Sears will offer a "best" rate of 15.9%, tied to the prime, on balances of new cardholders and those who charged more than $1,000 over the past year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.