Looks like the sears MasterCard is being replaced with a ShopYourWay credit card issued by Citi early next year. I'll bet this is part of the plan on doing away with sears and Kmart and instead creating a shopyouway platform this has nothing to do with sears or Kmart. Will the stores (if they still exist) be turned into ShopYourWay?
http://www.shopyourway.com/mp/app/19375/l
Scroll down to the bottom of the page for a picture of the future card
I personally just find the lack of the sears name on the new MasterCard to be very telling
I looked. It is still a Mastercard just with a really high rate. Cshittybank underwrites to the regular Sears cards too it is just that a "member" can only use those cards at Sears and typically have a much lower credit limit. I have a Harley Davidson card but it is still a Visa but at a much lower rate. I get Harley points by using it and for me that makes sense because I have two Harleys. The points are only redeemable at the stealership but I occasionally need some basic parts or services. The rates don't matter to me because I pay them off every month.
Basically, if I spend $1k at Sears/Kmart I would get ten dollars worth of points. Oh boy!!!!!!! But I did get $20 in digital fiats just for applying so why not? Right now I am at $700 in repairs for the family van so why not? I spent $135 yesterday on the truck. I got robbed on that deal because the computer said that I should get $16 in SYW points but I only got a $1.26. I guess I will have to call them. If you are VIP Silver and don't use your associate discount you should get more than a $1.26 on $135.
I have had to call SYW before because sometimes you don't get the points. I will play my little SYW game and keep everyone informed of what happens. It is such a convoluted system that I don't know if anyone really knows exactly what is going on. At some point everyday I am MOD for my shop I deal with it everyday. We have been able to solve everything so far but it takes phone calls.
Most "Members" have just given up trying to figure it all about there are a few customers(sorry eddie) that actually have studied SYW as much as possible. I have to know this stuff and I have a better grasp of it than pretty much anyone in full-line. I think the appliance guys are pretty sharp with it. Those guys seem to be pretty sharp in my store at least and they make sales.
What stands out as a serious issue is that the SYW program is the whole centerpiece of Sears miraculous yet no one knows exactly how it it is supposed to work. The Segno training is worthless. And now, I see my store is actually hiring some seasonal folks after running a skeleton crew all summer. Ostensibly they will be cashiers. How are they supposed to be up on every detail? They are all young and are going to be asked to run a cash register that is older than they are with minimal instructions. And then their job is to try to figure out the credit card chicanery AND SYW at the sales counter? It's retail!!!! How is that fair to them? They will quit once that whole SYW/ credit card issue is raised because they will not be able answer it accurately and that is not their fault.
I guess we will see what happens at least for the short term. We all know what is going to happen in the long term.
Your right, nothing will change with the exception that the sears name is clearly being removed from the card as seen in the picture provided at the bottom of the link. So I guess it will be called a ShopYourWay credit card?
I just applied for a Sears MasterCard today. I having some brake work done and a new half-shaft installed on my van and I received that internal e-mail regarding the 5-3-3-2-1(or whatever that is) new Sears MasterCard. So figured I would apply and take the points and the credit. I was approved instantly and opted for the instant $20 credit instead of deferring the interest. The caveat was that I had to make a purchase right away so I bought a $25 gift card. It didn't say I couldn't buy a giftcard. That manager just looked at me stated, "You just paid $5 for $25." " I replied, "Well actually, I just created "money" out thin air like the Federal Reserve does. It's magic.".
The Sears MasterCard is underwritten CshittyBank and carries a whopping %25. 7 something APR. That is outrageous! I have a couple of 7% cards. If you are careful with your credit cards you get some good deals. Anything Sears credit should be payed off immediately unless the interest is deferred.
Now I have to some homework to do on just exactly how to manipulate the SYW points, barcodes and discounts to my advantage. As I understand things, I will earn more points by using the Sears MasterCard and I can use that card anywhere as opposed to a regular Sears card.
I will check out your link but I would suspect that nothing will change. We received new credit apps yesterday but I didn't read about the Sears card because I knew that I didn't want that one.