Pros
- No membership fees
- High rewards rate
- up to $225 initial rewards bonus
Cons
- Spending caps on rewards
- No intro APR on balance transfers
- Balance transfer fee
- Foreign fee
The Sears Credit Card, also known as the Shop Your Way Mastercard, is a good option for frequent Sears customers with good credit. The Sears Mastercard doesn’t charge an annual fee, and it gives between 10 and 50 points per $1 spent, which works out to 1% to 5% back.
Below, you can learn more about what this card can add to your shopping trips as well as who should ultimately apply for it.
Sears Credit Card
- Earn 50 points (5% back) on eligible purchases at gas stations, 30 points (3% back) on eligible purchases at grocery stores and restaurants on the first $10,000 of combined gas, grocery and restaurants purchases per calendar year and 10 points (1%) thereafter.
- Earn 20 points (2% back) on eligible purchases at Sears & Kmart, and 10 points (1% back) on all other eligible purchases.
Rewards Details
- Earn a $75 statement credit for every $500 spent on eligible purchases within 90 days of account opening, up to a maximum total value of $225 in statement credits.
- Earn 50 points (5% back) on eligible purchases at gas stations, 30 points (3% back) on eligible purchases at grocery stores and restaurants on the first $10,000 of combined gas, grocery and restaurants purchases per calendar year and 10 points (1%) thereafter.
- Earn 20 points (2% back) on eligible purchases at Sears & Kmart, and 10 points (1% back) on all other eligible purchases.
- You can use earned points to save in-store or online at Sears or Kmart and at shopyourway.com.
- The points are valid for twelve months from the date they are awarded.
Additional Info
- Deferred Interest Details: No interest if paid in full within 12 months on select sitewide purchases of at least $299.
- Get 5% off select sitewide. Terms apply, cannot be combined with special financing offers.
- More Details & Reviews About Sears Credit Card
The Highlights
- up to $225 Statement Credit: If you get approved for the Sears Mastercard and make purchases of at least $500 in the first 90 days, you will automatically receive a up to $225 statement credit. Such savings certainly won’t make you rich, but they’re better than nothing.
- Average Rewards: The Sears Citi Mastercard is currently offering purchase-based rewards just for 12 months from date of account opening with 5% in points on eligible purchases at gas stations and 3% in points on eligible purchases at grocery stores & restaurants on the first $10,000 of combined gas, grocery, and restaurants purchases, and 1% thereafter. You will also earn 2% in points on eligible purchases at Sears and Kmart, plus 1% in points on all other eligible purchases.
- No Annual Fee: Although the Sears Credit Card doesn’t give you much, it doesn’t necessarily take anything from you, either. Its lack of annual fees helps cushion your budget and enables cost-effective credit building.
The Lowlights
- Deferred Interest 0% Financing: The promotional financing arrangements offered by the Sears Credit Card have a nasty little secret known as “deferred interest.” Its presence means that if you’re late on a monthly payment by even a day or you’re just a dollar short of paying off your full balance by the end of the promotional period, the card’s regular interest rate will retroactively apply to your entire original balance. Such an offer therefore has the potential to leave you saddled with a surprisingly expensive bill, a risk not worth taking when so many consumer-friendly 0% APR cards are available.That’s especially true when you consider that opting for one of Sears’ promotional financing offers — including those that waive interest for more than six months, which are available during the first month after account opening — precludes you from receiving the 5% special discounts in select categories.
- High Regular APR: The Sears Mastercard has a 30.49% (V) regular APR. Compare that to 23.47% for the average good-credit credit card, according to WalletHub’s latest Credit Card Landscape Report, and you’ll understand why it’s a bad deal.
Other Things To Consider
- Temporary Shopping Pass: If you find yourself at Sears or Kmart needing to make a purchase but unable to find your card, you can obtain a temporary card to use by showing your ID to a store employee. It’s a nice convenience.
- 5% (min $10) Balance-Transfer Fee: You probably wouldn’t even think to transfer a balance to the Sears Mastercard, considering the treacherous financing climate it fosters. But if by chance you do, its 5% (min $10) balance-transfer fee should help dispel that notion once and for all. The market average, in case you’re wondering, is 3%.
- 3% Foreign Transaction Fee: Sears doesn’t have an international presence, so this particular nuisance fee applies only to the Mastercard. In short, it’s good reason to leave your Sears Mastercard at home in favor of plastic that will reward you for what you spend abroad, not charge you for it.
Compared To The Competition
See how the Sears Mastercard stacks up against some of its popular competitors.
| Info | Sears Credit Card | Capital One Walmart Rewards® Mastercard® | Amazon Credit Card | Target Credit Card |
|---|---|---|---|---|
| Annual Fee | $0 | $0 | $0 | $0 |
| Bonus Offer | up to $225 | N/A | $50 gift card | $40 |
| Rewards Rate | 10 - 50 points / $1 | 1 - 5% Cash Back | 1 - 5 points / $1 | 5% discount |
| Purchase Intro APR | 0% for 12 months | N/A | N/A | N/A |
| Transfer Intro APR | N/A | N/A | N/A | N/A |
| Regular APR | 30.49% (V) | 17.99% or 29.74% (Variable) | 19.49% - 27.49% (V) | 28.15% (V) |
| Editors' Rating | 1.6 | 4.5 | 4.5 | 5 |
| Details, Rates & Fees | Learn More | Learn More Rates & Fees | Learn More | Learn More |
| Winners | ||||
Sears Credit Card Review Methodology
This Sears Credit Card review is based on WalletHub’s proprietary 100-point credit card rating system. By using a consistent methodology to evaluate the Sears Credit Card and all other cards, WalletHub’s credit card experts make it easy for people to compare their options and find the best credit cards for their needs.
The WalletHub rating system uses 16 key metrics grouped into seven categories: Fees, Rewards, Two-year Cost, Interest Rates, Approval Requirements, Special Features, and Reviews. Each metric has a maximum number of points allocated to it, based on the metric’s importance as determined by our editors. The points are added up to create an overall rating for the Sears Credit Card out of a maximum of 100 points, which is then converted to a 5-point scale.
Ratings for each category reflect how close Sears Credit Card is to WalletHub’s definition of a 5-star credit card, which is based on market conditions and what we believe are reasonable terms. We compare Sears Credit Card to that standard to give a numerical approximation of how reasonable and competitive its terms are compared to other cards.
To learn more about how WalletHub rates credit card offers, check out our full credit card review methodology.
