In case you didn’t know, Sears is filing for bankruptcy. Citi issues the Sears co-branded credit card and in May they signed a new deal worth $425 million. Up until now we didn’t know what would be happening to this card. Citi is now displaying a F.A.Q for cardholders:
Hopefully they provide some more useful information in the future regarding what will happen to existing cardholders.
Hat tip to reader Luis L
Received the following e-mail today…
Your Card Works For You
Your Sears MastercardⓇ continues to bring you great value. Not only can you take advantage of exclusive SearsⓇ cardmember offers, your card is your ticket to shopping everywhere Mastercard is accepted.
Keep using your Sears Mastercard to:
• Shop in store at Sears, KmartⓇ and Sears Hometown & OutletⓇ
• Shop online at Sears.com, Kmart.com or searshometownstores.com
• Shop everywhere Mastercard is accepted, 40 million places online and around the world
We value your business and are committed to bringing great everyday value to our cardmembers.
I have a Sears Citi Bank card and have been offered a 10% discount on purchases. Is this still a valid offer
Should be if it gives you cash back instead of SYWR points
It’s probably like this targeted offer earlier this year – 10% back afterward, rather than a 10% discount up-front. It’s paid out in Citi Thank-You Points, not in Sears Shop Your Way points, so no problem there.
https://www.doctorofcredit.com/targeted-citi-sears-card-spending-bonus-10x-on-gas-stations-grocery-stores-restaurants/
You can’t assume it is TYP. Son had his card tied to SYWR and wife had hers tied to TYP. They would get the same type of offers, one paying you in SYWR and the other in TYP. Son switched the card a year or so ago to TYP as well.
I wonder if they are going to sell their Shop Your Way loyalty program to another retailer. I belong to the program as an Uber driver. So, with this program, it is like getting a $2 tip on every fare. That said, I had about $100 worth of points in my account and yesterday spent about 95% of that.
Since Citi is the card issuer I would assume if the co-branded card won’t exist anymore they would just move all of us into another Citi card. Since the Thank You Points are Citi “currency” we shouldn’t lose them.
“fuck you pay me” — citi
Dang the put some retarded questions up there lol
“Customers should expect Holdings’ loyalty programs, including the Shop Your Way membership program, and the Sears and private label credit card rewards programs, to continue as normal”
—http://searsholdings.com/press-releases/pr/2116
Companies in bankruptcy have been known to LIE, and then pull the points system randomly when you aren’t prepared, so it’s better to be safe than sorry. I’d give it another 4-6 months left max before this occurs
Looks like they are doing damage control to avoid a flood of inquiries in the short term.
Mostly citi saying dont contact them