NEW YORK and HOFFMAN ESTATES, Ill. -- Starting November 1st, more than five million current Sears MasterCard holders whose cards are linked to the Shop Your Way program will earn more Shop Your Way points at many of their favorite places. 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.
These Sears MasterCard holders will automatically earn more Shop Your Way points on a complimentary basis through December 31, 2017, including:
*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.
Points can easily be redeemed on purchases ranging from everyday household consumables to larger items such as kitchen appliances sold by Sears and Kmart in store or online and on ShopYourWay.com. There is no minimum redemption threshold and no need for certificates or gift cards – members can see their points online or on their Shop Your Way app and instantly redeem them towards their purchases in store or online. Points earned with the card are also combinable with other Shop Your Way point offers through Shop Your Way partners such as Uber, Liberty Mutual Insurance, Pure Talk, Groupon, Avis Budget Group and more. Visit shopyourway.com/partners to view current partner offers.
"We are pleased to partner with Sears Holdings to bring this innovative new Shop Your Way offer through the Sears MasterCard to market," said Bill Johnson, Citi Retail Services' Chief Executive Officer. "This offer delivers the highest value on those categories that are most important to consumers and provides cardholders with the opportunity to earn considerably more Shop Your Way points in more places."
"By deepening our longstanding relationship with Citi through this important partnership, it enables us to deliver a best-in-class offer that rewards Shop Your Way members for activity in their daily lives," said Edward S. Lampert, Chairman & CEO of Sears Holdings. "We are focused on making the card a core element of the Shop Your Way member offering as it supports the program's generous rewards, partnerships and experiences. Enhancing Shop Your Way benefits for Sears MasterCard holders is the latest step in the evolution of the Shop Your Way program and is another example of how we are transforming Sears Holdings to focus on serving our members in a wide variety of ways."
In addition to the enhanced Shop Your Way rewards benefits, the Sears MasterCard also provides a broad range of built-in, comprehensive benefits, including:
*Special financing offers at Sears and Kmart;
*Exclusive cardholder savings events;
*Online account access; and
*Zero liability on unauthorized purchases.
The more than 5 million Sears MasterCard holders will automatically receive the new 5-3-2-1 Shop Your Way offer on a complimentary basis starting November 1st, 2016, through December 31, 2017. Newly designed Shop Your Way branded cards will be issued to members starting March 2017.
The new offer will also be made available to existing Shop Your Way members and new members early next year. Those who are interested in the 5-3-2-1 offer can visit www.shopyourway.com/cardto request an application.
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.