HOFFMAN ESTATES, Ill., Feb.1, 2017 /PRNewswire/ -- Citi Retail Services and Sears Holdings announced the launch of the Sears Mastercard with Shop Your Way, available today. With an industry-leading 5-3-2-1 rewards offer, customers can earn rewards points on all purchases everywhere they shop. The Sears Mastercard is powered by Citi Retail Services, one of the country's largest and most experienced private label and cobrand credit card issuers.
Starting today, all new Sears Mastercard customers can earn more Shop Your Way points on a complimentary basis for 12 months from the date the account is open, which include:
- 5% back in points on eligible purchases made at gas stations;
- 3% back in points on eligible purchases at grocery stores and restaurants; [5% and 3% back on the first $10,000 of combined eligible purchases made on gas, groceries and restaurants and 1% thereafter]
- 2% back in points on eligible purchases made at Sears and Kmart; and
- 1% back in points on all other eligible purchases.
Shop Your Way points can be redeemed on purchases ranging from everyday household products to larger items such as kitchen appliances sold by Sears and Kmart in store or online and on ShopYourWay.com. These rewards points can also be used in combination with in-store promotions at Sears and Kmart.
"We are delighted to partner with Sears Holdings and announce the Sears Mastercard with the Shop Your Way offer," said Bill Johnson, Citi Retail Services' Chief Executive Officer. "This attractive rewards offer will deliver high value for customers with every purchase, anywhere they choose to shop."
"The best-in-class Sears Mastercard with Shop Your Way is a key component of Sears Holdings' transformation as it delivers greater value for our Shop Your Way members and rewards them for activity in their daily lives," said Edward S. Lampert, Chairman & CEO of Sears Holdings. "The initial public response for the Sears Mastercard with Shop Your Way has been very strong based on the waiting list of prospective cardholders created for this innovative offer. We look forward to building on this momentum for our Shop Your Way ecosystem and adding new ways for our members to earn rewards and make their lives easier."
In addition to the enhanced Shop Your Way rewards offer, the Sears Mastercard also provides a broad range of built-in, comprehensive benefits, including:
- No annual fee
- Special financing offers at Sears and Kmart
- Exclusive cardholder savings events
- Statement credit offer for new accounts
- EMV technology
- Credit and account protection
- $0 Liability on Unauthorized Purchases
- Citi Identity Theft Solutions
More than five million existing Sears Mastercard holders began receiving the new 5-3-2-1 Shop Your Way offer in November 2016. Newly designed Shop Your Way branded cards will be issued to these cardholders beginning in March.
To learn more about the Sears Mastercard with Shop Your Way, or to apply, please visit www.shopyourway.com/card.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
About Sears Holdings Corporation
Sears Holdings Corporation (NASDAQ: SHLD) is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve our members - wherever, whenever and however they want to shop. Sears Holdings is home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears and Kmart, as well as with other retail partners across categories important to them. The Company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. For more information, visit www.searsholdings.com.
About Shop Your Way
Shop Your Way® , a business unit of Sears Holdings (NASDAQ: SHLD), is a free social shopping destination and rewards program offering millions of products, personalized services, and advice. The program rewards members for buying the products and services they want every day. Through an extensive network, members can shop thousands of top brands and earn points to use on future purchases. Members also have access to special pricing, sales and digital coupons that can be loaded directly into their account.
It's free and easy to become a Shop Your Way member and begin enjoying benefits immediately when you visit shopyourway.com. Download the free Shop Your Way app on iTunes or Google Play.
Deirdre Leahy, Citi
Howard Riefs, Sears Holdings
SOURCE Sears Holdings; Citi Retail Services