the Transformco company, started in 2019 to acquire brands from the Sears Holdings Corporation — continues to have established brands despite the news of Sears and Kmart stores closing isn’t very positive. With rising E e-commerce trends stores like Sears are struggling. Sears and Kmart shoppers’ loyalists have moved towards Shop Your Way loyalty program and credit card perks

The review showcases Sears credit card’s benefits, drawbacks, and fees. application and management process, Shop Your Way rewards program.

The Sears Credit Cards at a Glance

Sears has 2 store-branded credit cards, both issued by Citibank: The Sears card (the basic store card) and the Sears Shop Your Way card. To be utilized at Sears and Kmart locations, Shop Your Way platform and anywhere Mastercard is accepted.

 

Sears Card

Sears Basic Store Credit Card

Has limited perks, to be used within the Transformco family of stores and on the Shop Your Way platform.

Special financing (select products): option of special financing on certain products, including, but not limited to, appliances, electronics, fitness equipment, automotive merchandise, and tools.

Exclusive savings: cardmembers are given access to special deals, savings coupons, invites to cardholder-only events, and points earned on Shop Your Way program/portal.

Account protection: Standard with credit cards.

“no interest if paid in full within 6 months” (deferred interest)

 

Sears Shop Your Way Card

The benefit of flexibility at viable purchase locations to be used anywhere Mastercard is accepted.

 

 

Sears Mastercard Category Bonus Structure

bonus category structure:

 

The 3% to 5% points-back applies only to the first $10,000 spent annually, resetting on December 31. Any amount after the $10,000 will only earn 1% back.

Stand-alone gas stations are eligible for 5% points back. Base points (1% back) at those associated with grocery stores, wholesale clubs, and superstores.

Sign-up bonus to earn a $40 statement credit if they make $50+ in eligible purchases within 30 days of the account being opened, available for online applications only.

 

 

Fees and Drawbacks of the Cards

Fees

 

Sears Card Sears Shop Your Way Card

Purchase APR

High purchase APRs, at a purchase APR of 25.24% variable, shoppers face difficulty if they carry a balance on their account. (Special financing offer with deferred interest).

 

Why is deferred interest so bad?

if you don’t pay off your balance in full within the promotional period, interest charges are imposed on the starting balance at the APR for regular purchases retroactively from the date of purchase.

 

Cash Advances

Do not utilize the cash advance option on a credit card.

Not only will you be charged the associated fee (either the flat rate or %, whichever is greater) but you also won’t get a grace period on the cash advance. Interest begins accruing on the balance as soon as the transaction is completed.

 

Foreign Transaction Fees

Many cards, unlike Sears waive foreign transaction fees.

 

The biggest Additional Drawback is the Complicated rewards program. There are many options for earning points but not redeeming them.

 

Each card can be applied for either online or in-store.

You can find the Sears card online application and the Sears Shop Your Way card application here.

 

Neither Sears nor Citi discloses the exact credit score requirements for approval on the cards, mostly the basic Sears card is easier to get, with most applicants in the “fair” range being approved.

You’ll need a better score (“good” to “excellent” range) to be approved for the Mastercard version.

Sometimes basic Sears cardholders get “upgraded” to the Sears Shop Your Way card,

 

Login and Online Account Management

 

Online Management

Sears Citi landing page

Cardholders can utilize the co-branded Sears-Citibank online platform to manage their account.

 

Once approved for your card, register your card and create an account. Then log in with your user ID and password.

 

Within the platform, cardholders can:

  • View and track account activity
  • View billing statements
  • Make payments
  • Receive exclusive offers
  • Activate alerts
  • Enrol in paperless statements

Shop Your Way Rewards Program

Sears credit cards, approved applicants will be automatically enrolled in the Shop Your Way Rewards program. Shop Your Way platform provides customers with an opportunity to earn points by shopping through the platform.

Users can also make a profile, create catalogues, and utilize a type of “newsfeed,”

Use a “linked card” (Mastercard or Visa card) at a participating partner location or website

 

Using the Sears Shop Your Way Card with Bonus Points Back

Sears Shop Your Way card for gas, grocery, and restaurant purchases will earn you 3% to 5% bonus points within the percent-back structure annually, up to the first $10,000 in purchases, then 1%.

 

Shopping at Sears or Kmart

In-store and Online, Shop Your Way Rewards members can simply give their account number, email address, or phone number associated with the account during checkout to earn points.

(restrictions on purchases apply).

 

Shopping Through the Shop Your Way Platform

 

Unlike other rewards platforms for monitoring/managing a rewards account, the Shop Your Way program was designed before Sears associated with Citibank. The platform acts like a shopping portal, where members earn bonus points just by using it.

Signed up to the program, users simply shop within the portal to earn points

 

Using a Linked Card at a Participating Partner Location or Website

 

 

Shop Your Way platform gives shoppers the ability to link non-store-branded credit cards to the program, through a path called Card Link.

 

 

What Your Points Are Worth

Shop Your Way Rewards members earn 10 points per $1 spent (unless under a bonus structure or special promotion).

Within the program, 1,000 points are equal to $1 in value.

As a rewards member earns points automatically stored in the member’s account the balance can be accessed at any time via the online platform or mobile app.

 

What Do Points Expire

Shop Your Way points have different periods of validity based on how they are received.

Sears credit card points are valid for 12 months

 

Using Your Rewards

 

Shop Your Way redeem

 

Rewards are redeemed online or in-store at Sears and Kmart.

Redemption online requires members to be logged in to their account to access their points.

Redemption in-store requires members to provide the sales assistant with their account number, email, or phone number.

 

Final Thoughts

The Sears Shop Your Way card does have bonus points earning structure, limited to an annual maximum that once hit drops your percentage to 1%.

Sears card can be linked to any eligible Mastercard or Visa to earn points