Sears, a prominent retail chain in the US, operates as a subsidiary of Sears Holdings Corp. (SHLD) and traces its roots back to 1886 when Richard Sears, a railroad station agent, started selling gold watches through mail orders. This ultimately led to the establishment of a business empire through a mail-order catalog offering a wide range of products, from hats to houses.
Originally known as Sears, Roebuck, and Co., the company expanded significantly in the late 20th century, with stores across the country and acquisitions of well-known brands like Kmart, Kenmore, Craftsman, and DieHard.
In more recent years, Sears has faced financial challenges, including filing for bankruptcy protection in 2018. Despite once being a dominant retailer and employer with thousands of stores nationwide, Sears has undergone significant downsizing, with the closure of most stores and uncertainty about the remaining few.
How the Sears Credit Card Works
Sears offers various credit card options, including a Sears Card for in-store purchases and co-branded “Shop Your Way” MasterCards in partnership with Citibank. These cards allow customers to earn rewards points on everyday purchases, redeemable at Sears locations.
Cardholders can also access special financing deals for home improvement projects through Sears Home Services, providing zero-interest financing on items like HVAC equipment and windows, along with installation services.
The Shop Your Way Credit Card
Shop Your Way MasterCards offer rewards such as cashback on gasoline and grocery purchases, discounts at Sears and Kmart, and promotional financing options. These cards come with exclusive offers and no annual fees, providing additional benefits to cardholders.
Rewards and Benefits
The Sears credit card is most beneficial for customers making large purchases, offering discounts and financing options for major investments like home appliances or renovations. Regular use of the card can unlock various benefits and rewards for loyal Sears shoppers.
Required Credit Score
Applicants with fair credit scores, typically ranging from 580 to 669, are likely to be approved for a Sears credit card. Meeting the age requirement of at least 18 years old is also necessary for applying.
Where Can the Card Be Used?
The Sears credit card can be utilized at Sears stores and websites, while the Sears MasterCard is accepted at all locations where MasterCard is honored.
Alternatives
Various retailers like Walmart, Home Depot, Best Buy, and Macy’s offer credit cards with rewards programs similar to Sears. Each retailer provides unique benefits, such as promotional financing and discounts, catering to diverse consumer preferences.
The Sears Credit Card Interest Rates, Terms, and Conditions
Both the Sears Card and Sears MasterCard feature comparable APRs for purchases and cash advances, along with specific terms and conditions that customers need to be aware of before using the cards.
Who Should Consider the Sears Credit Card?
Despite Sears’ challenges, its credit card offerings remain attractive for consumers looking to make significant home purchases. With benefits like discounts on appliances and zero-interest financing, the Sears card is ideal for those planning major investments in their homes.
What Are the Benefits of Having a Sears Credit Card?
Sears credit cards offer value for consumers making substantial purchases and seeking financing options, especially when shopping for appliances or home improvement items. While Sears faces competition in certain product categories, its card rewards program and financing deals make it a viable choice for eligible customers.
Is It Hard to Get a Sears Credit Card?
Prospective applicants with fair credit scores should find it relatively easy to qualify for a Sears credit card, making it accessible to a wide range of consumers seeking to build credit or make essential purchases. Responsible credit use is key to maximizing the benefits of having a Sears credit card.
Does Citibank Own the Sears Credit Card?
Sears collaborates with Citibank to issue and manage its co-branded credit cards, providing customers with rewards for Sears purchases while leveraging MasterCard’s widespread acceptance. The partnership between Sears and Citibank reflects a common practice among US retailers offering similar credit card programs.
The Bottom Line
Sears, once a retail giant, has undergone significant changes in recent years, but its legacy brands and product offerings continue to be available to consumers. While Sears faces competition, its credit card options and financing deals make it a viable choice for individuals seeking quality appliances and home improvement products.