Sears: $20 Credit with $100 Gift Card Purchase + 16% Off with Portal/Discover!

[12/14/15: We wrote a few updates on this offer, see Sears $20 Promo Coming Through – Much Better Than Expected!]

The Offer

Direct Link (scroll down, under ‘a few reasons to be jolly’)

Sears and Kmart are offering a holiday bonus for the purchase of Sears/Kmart gift cards. Valid until 12/25/15.

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  • Purchase $50 Sears gift card and get a free $10 Sears promo credit
  • Purchase $100 Sears gift card and get a free $20 Sears promo credit

The terms don’t specify whether the gift card needs to be a physical gift card or an e-gift card; I’m pretty sure that both will work. (By default, the link brings you to the e-gift option.) Unclear if gift card reloads will work as well. The promo code doesn’t show up in your cart; it will just be sent out afterward via email within 10 days of purchase.

Sears gift cards never expire, and the promo card will be valid from 12/12/15 – 1/31/15.

The Fine Print

  • Offer valid  12/6/2015 – 12/25/2015, online only.
  • Promo card will be valid in-store or online 12/12/2015 – 1/31/2016.
  • Limit (1) eAward card per transaction.
  • Qualifying online purchases will automatically receive an eAward card via email within 7-10 days of purchase.
  • $100/$50 thresholds must be met in a single transaction.

Limits

The big question here is whether you can get multiple $20 promo cards by buying $100 gift cards in separate transactions. The terms say, “Limit (1) eAward card per transaction.” I’m not sure if that is referring to the redemption of the eAward cards or the earning of the cards.

In any case, there is no explicit exclusion saying that you can only get this offer once total; hopefully there is no limit, and you can earn unlimited amounts of $20 eAward cards, one for each separate $100 gift card purchase.

Our Verdict

The deal is a good one on its own, but even better is that fact that Discover is now offering 5% back on Sears purchases, up to $1500, and many of us will get that doubled at year’s end to become 10%.

[Update] Important: The 5% will only work for e-gift card purchases or reloads purchases made at Sears.com. Physical gift card purchases made at Sears.com get processed through Kmart and won’t trigger the 5% bonus. For us, the e-gift card option is the sweet spot since it is eligible for the 5% Discover and it’s eligible for the $20 promo credit offer.

The Portal

Additionally, you can go through a shopping portal when purchasing the Sears gift cards. See all portal rates for Sears here.

Many shopping portals allow cashback on the purchase of Sears gift cards and e-gift cards while others exclude it. We rounded up the stated terms of the major portals here.

The best is Topcashback who explicitly includes gift cards, but Ebates and Shopathome should work okay as well. Currently, Topcashback is only offering 2% on gift cards, and I’d recommend using Ebates at 6% or Shopathome at 5%.

Note that not all the terms are necessarily enforced, and at least one recent report indicates that Cartera portals have been working in practice as well, although they officially exclude it. If you want to risk it, you can go through Splender for 7% or the Cartera mileage portal of your choice.

Also, note that the portal rates regularly go up for Sears. I’m optimistic about seeing 10% or possibly more within the next couple weeks, and probably some mileage bonus rates as well.

Final Haul

If all works out, you can buy $1500 in Sears gift cards in 15 separate transactions and pay for it with Discover. You’ll get back 10% from Discover and 6% with the portal. Plus the $20 promo card that amounts to a 16.6% discount. All told it would amount to 32.6% off the gift card.

And that’s before double-dipping when making the purchase. After double-dipping it can be close to 40% off by going through Splender!

[If you are new to Ebates, you’ll get another $10 for signing up and making a $25 purchase. Here is my Ebates referral link. Appreciate if you use it!]

HT: Slickdeals

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Karen
Karen

I ordered egcs on Dec 22 and have not received any eAward card, does anyone have the same experience?

Lucy
Lucy

I bought 2X$100 gc 3 days ago and today I received only $5 eaward. Anybody on the same boat?

Darren
Darren

Good news: Just got an eAward card from Sears for $200 (I ordered 10 different $100 gift cards, so $200 = $20 * 10). No mention of expiration dates as per post above. Anyone else?

anthonyjh21
anthonyjh21

Was the total for $200 or was it a sum of $200? I ask because I don’t want to be limited to $20 cards that can only be used one per order. Now if it were a $200 card that would be worth while for me.

Justin
Justin

did you make ten separate transactions or only one?

Lucy
Lucy

Is it still valid? now the ads is gone from the sears.com front page.

JD
JD

Another angle worth noting is to 1st buy the DIY Home Improvement Gift Card at Office Depot to nab either 5% via Amex Simply Cash or 5* points using Chase Ink. THEN go through a portal to Sears to purchase the $100 Sears Gift Cards using the the DIY GC. This is worth at least 30% in total. Not bad. Any data points out there on getting the $20 from Sears? Anyone being limited to the number of $100 get $20 back transactions?

rouven69
rouven69

Well see the terms. Takes at least a week to get it

Limit (1) eAward card per transaction. Qualifying online purchases will automatically receive an eAward card via email within 7-10 days of purchase

jacinto
jacinto

chuck-great post. In your update, you say that reloads of Sears gift cards will qualify for the 5% quarterly Discover category?

Paul
Paul

I read post saying discover filters gc purchase while using apple pay. Any thought on how discover takes sears gc purchase online?

Parkerthon
Parkerthon

There’s no reason to believe they have changed how they handle quarterly bonus categories. Apple Pay was just a very rich offer and was therefore heavily scrutinized(and restricted).

Florian
Florian

Can someone answer me for the promo code SEARS5OFF50, can it be combined with this offer?

Paul
Paul

Can I buy visa gift card with sears gc online?