What Are The Benefits of Having a Sears Credit Card?
What Are the Benefits of Having a Sears Credit Card?
The Benefits of Having a Sears Credit Card. Sears is a wholly-owned subsidiary of Sears Holdings Corp. (SHLD). Richard Sears, a train station agent, started selling gold watches by mail in 1886 and built a mail-order empire selling everything from hats to mansions.
Sears, Roebuck & Co. opened stores coast to coast and acquired Kmart, Kenmore, Craftsman, and DieHard in the late 20th century.
The firm went bankrupt in 2018. In November 2019, the nation’s largest retailer and employer said it was shutting all but 182 shops. As of April 2022, just three Kmart stores were operating, while the number of Sears outlets was unclear.
Key Takeaways
- Sears’ retail credit card and MasterCard co-branded card provide incentives and privileges.
- Cardholders may earn cashback rewards points to use in-store or online and enjoy seasonal incentives like no-interest financing.
- No yearly fee.
How the Sears Credit Card Works
Sears has teamed with Citibank of Citigroup Inc. (C) to provide co-branded “Shop Your Way” credit cards with rewards and perks programmes. These cards may be redeemed at Sears with points earned from petrol and food purchases.
Customers may use the Sears Card in-store or online at Sears and Kmart. Citibank’s Sears “Shop Your Way” MasterCard may be used everywhere MasterCard is accepted.
Sears Home Services Financing
Cardholders may get 18-month zero-interest financing on home renovation products including heating and air conditioning equipment, windows, entrance doors, and home generators.
Cardholders may use this card to fund Sears Home Services purchases, which includes installation and maintenance. Sears Home Services may provide both the material and installation for clients upgrading their windows.
The procedure comprises a phone and in-home consultation.
The Shop Your Way Credit Card
Shop Your Way MasterCards provide 5% cash back on qualified fuel purchases, 3% cash back at grocery shops and restaurants (up to $10,000), 2% cash back at Sears or Kmart, and 1% cash back on all other transactions.
Cardholders might get seasonal discounts or no-interest financing.
Cardholders may get a free in-home consultation and 18 months of zero-interest financing when they use their Sears card at Sears Home Services.
Both cards have no annual cost and provide online services, $0 responsibility on illegal transactions, and identity theft resolution services.
New Sears MasterCard holders may receive $225 in statement credits in the first 90 days. Since August 2022, new Sears Card customers have no special incentives.
Both cards provide exceptional discounts. Cardholders may earn 5% off select retail purchases or 0% interest if the amount is paid in full within 12 months. Home appliances, fitness equipment, lawn and garden items, tools, sports goods, furniture, and beds have comparable deals.
Rewards and Benefits
Sears cards help shoppers who make regular major purchases. The cards provide 5% off big-ticket purchases or no-interest financing.
Most card advantages require spending $299 per category annually. Long-term, a Sears card may not help someone who doesn’t make frequent major purchases.
Customers considering a large renovation or upgrade may use their Sears Card. Sears Home Services provides no-interest credit card financing over 18 months for remodels.
How to Get the Sears Credit Card
Customers may apply for a Sears credit card or Sears MasterCard online or in-store.
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Credit checks and financial details are required.
Required Credit Score
Like other credit issuers, Sears and MasterCard don’t publicise credit rating standards. This sort of credit card is simpler to acquire than others since the credit limit is modest and the interest rate is high. They’re low-risk and profitable for the issuer.
580 to 669 is considered a “fair” credit score range.
Applicants must be 18 or 21 in Puerto Rico.
Where Can the Card Be Used?
The Sears credit card works in shops and online. The Sears MasterCard is accepted worldwide.
Alternatives
Many credit cards provide rewards schemes.
Sears’ retail rivals offer similar cards and deals, including Walmart, Home Depot, Best Buy, and Macy’s. These stores accept credit cards. My Best Buy card offers preferential financing for 24 months and 5% back in rewards points on major appliances.
The Walmart credit card gives 5% off Walmart.com purchases, 2% off in Walmart shops, restaurants, travel, and petrol stations, and 1% off everywhere.
Home Depot’s Consumer Credit Card offers up to 24 months of financing and a one-year hassle-free return policy for major purchases.
The Sears Credit Card Interest Rates, Terms and Conditions
Sears Card and Sears MasterCard carry 27.49% purchase APR and 29.40% cash advance APR.
Cash advances cost $5 or 5% of the advance amount.
After the promotional period, purchases made at Sears Home Center with a Sears Card will have a variable APR of up to 27.49% in August 2022.
Who Should Consider the Sears Credit Card?
Sears has a long-standing reputation for excellent appliances, tools, car parts, and lawn and garden equipment. The Sears.com website is worth a pricing comparison with other merchants.
The basic store card might be useful if you live near a Sears shop. The company’s internet shop locator is unreliable.
What Are the Benefits of Having a Sears Credit Card?
A Sears credit card or “Shop Your Way” Sears MasterCard may be beneficial for buying appliances or tyres. Major home investments benefit from 5% discount or zero-interest financing.
Sears sells household appliances, tools, and garden items. It also sells shoes, toys, and jewellery, but it’s hard to find a competitive edge over Amazon.com or Walmart.
The card’s major advantages come with big-ticket purchases or $300 or more in a department every year.
Is It Hard to Get a Sears Credit Card?
Sears Credit Card and Sears MasterCard applicants with credit scores between 580 and 669 should have no trouble getting credit.
If you’re young and starting out, it might assist you get some house necessities. Pay promptly. You’ll avoid expensive financing costs and improve your credit score.
Does Citibank Own the Sears Credit Card?
Sears and Citibank create a credit card with incentives for Sears purchases that can be used everywhere MasterCard is accepted. Your charge will come from Citibank, the card administrator.
American merchants increasingly offer co-branded cards.
The Bottom Line
Sears is a “zombie store,” and for good reason. Once a retail giant, Sears has dwindled to a handful of aged storefronts and dumped trademarks like DieHard batteries and Kenmore appliances.
These and other big brands are still available at Sears.com. Consumers planning large home renovations should compare Sears’ prices and financing choices to those of its rivals.
