So they are offering a rewards program now. The only negative, I've found so far is that points do not rollover month to month, so you have to earn all $250 each month to get the $10 reward. So IMO, not as good as Old Navy but better than nothing.
Here's a quick summary of program.
* You earn one point per dollar spent on all regular and sale-priced merchandise. Clearance items, JCP Outlet and JCP Online Outlet purchases do not qualify. * When you shop this month, enjoy Monthly Shopper double points all next month. JOIN TODAY and enjoy Monthly Shopper double points through 12/31/2008 no matter when you shop! * When you shop with your JCPenney Card get an extra 25% in points. * Earn 250 points in a month, and get a $10 reward.
Here's a link to their website if you want to know more.