The Offer
- Get a sign up bonus of $40 when you spend $50 or more within 30 days from account opening
Card Details
- Card earns at the following rates for the first 12 months
- 5% back in points on eligible purchases made at gas stations*
- 3% back in points on eligible purchases at grocery stores and restaurants*
- 2% back in points on eligible purchases made at Sears & Kmart
- 1% back on all other purchases
- No annual fee
*These categories have a combined limit of $10,000 in spend, after that they will earn 1% back in points
Our Verdict
You don’t get this card for the sign up bonus (although it was $150 last year). you get it for the targeted promotions offering 10%/5% back on popular categories with decent caps. That’s also why it’s listed as one of the best store credit cards. The bonus categories aren’t actually that interesting as there are other cards that earn at higher rates:
- Best gas credit cards
- Best grocery store credit cards
- Best restaurant credit cards
- Best credit cards for everywhere else
You can product change this card other versions of this card converted (e.g Citi ThankYou points. This has no bonus categories but it means it earns ThankYou points during promotions). You can read our full review of this card here. Before asking any basic questions or applying make sure you read through these things everybody should know about Citi cards.
Hat tip to reader aubergine
Following link to offer, looks like this is now $20 off $30 signup offer instead of $40 off $50.
Thanks
I faintly remember reading some DP’s saying that you need to wait ~3 months before being eligible to product-change to the TYP version of this card. Is that right?
Just a recent DP with the impending doom surrounding Sears:
As of 1/10 you can still convert the card from a SYW to a TY point earning card. Whether you want to take a gamble on getting the card now or not is another story…
Question: I already transferred the card to TYP card, so the earning structure like:
Card earns at the following rates for the first 12 months
5% back in points on eligible purchases made at gas stations*
3% back in points on eligible purchases at grocery stores and restaurants*
The 5% on gas and 3% on grocery stores and restaurants still working? I mean, to earn TYP points for the 5% and 3%?
I got the card. And i looked for a way to spend $50 and recieve the $40 rebate. But the prices were SO inflated. It seems like a gimmick. I even looked for Coffee Pods. But they were all about $1 per pod. I cancelled the card. Hope others have better luck.
I think it just means $50 worth of spend that is defined as a “purchase”. Could have bought $50 worth of groceries or anything and gotten the credit. There is no requirement to make the purchase at Sears.
Yeah, I read it that way too. I searched several times to see if the initial $50 purchase were restricted but I can’t find anything that says it is. So, I also assume it is any purchase for $50+.
Thanks! your both probably right and I blew an opportunity to make a free $40. Drats…
You might be able to reopen the account. Worth a try since you already got a hard pull for it.
Applied and got approved after verification over the phone. No credit pulls surprisingly
Might apply for this just to have a better card for gas
EDIT: nvm didnt realize this was shop your way points
And just to confirm – you can product change the rewards to be thank you points or cash while getting the offers as a Sears card holder? We all know the use of SYW rewards is not great and Sears is on the brink as it is…The benefit hinges on being able to change the rewards redemption
Correct
Is there a site that explains how this product change can be accomplished or is this a dumb question?
Any short-term concerns with this card considering Sears may not be around next year?
It’s a gamble. For those of us with a lot of cards it’s less of a gamble. I’d change away from shop you way points asap though.
Actually one of the reasons I got this card in Jan, 2018 is that Sears may go under. I’m blocked from getting a Citi retail card as I included a couple Citi cards in my 2010 BK. My thinking is if Sears goes under Citi won’t just close the card and lose all the customers so they may convert it to a Citi cards like Simplicity. Just doing the $50 spend for $40 bonus for now and then sock drawer the card.
I think applying in stores gets you better sign up bonus especially during holidays its like 40-50% of your entire bill etc.And they have two versions of cards one with mastercard other sears store card and both can be signed up for.
Have been using this card for quite some time.
They have 40-50% off your bill??