topic Re: Sears upgrade to Mastercard! in Credit Cards

Sears upgrade to Mastercard!

AverageJoesCredit — Sun, 17 Jun 2018 00:21:28 GMT

Hey guys and gals. I wIsh everyone a safe and happy Fathers Day tomorrow

Got a letter today from Sears. I'm being upgraded to Sears Mastercard with new terms starting 7/30/18. I can decline but only until 8/02/18. Should receive card by 8/30/18.

Says I was part of a select group of cardmembers who have been chosen to receive an upgrade. Probably marketing there but who cares, I'm happy.

Even if Sears goes bye bye it's nice to have a card that may stick around.

Card will come with updated account number. Can continue to use my card login etc. Heres the key part for all you upgrade lovers, in underlines "Your entire account history and original account open date will remain the same!" Woo hoo, take that Synchrony

Good luck to any fellow store card holders who would like the upgrade, I hope you get it

Re: Sears upgrade to Mastercard!

JR_TX — Sun, 17 Jun 2018 00:27:57 GMT

Hey congrats AJC! That’s a pretty sweet deal! Citi loves you and didn’t want you to go down with Sears! Lol
Account history, Open date... Such an icing on the citi cake!
Don’t forget to take that Mastercard for a spin down the citi!

Re: Sears upgrade to Mastercard!

Remedios — Sun, 17 Jun 2018 00:33:43 GMT

That's great, AJC!

Re: Sears upgrade to Mastercard!

Anonymous — Sun, 17 Jun 2018 01:23:43 GMT

Sweet upgrade AJ. 🎉🍾🎊🎈. I was in Sears this morning.

Re: Sears upgrade to Mastercard!

AverageJoesCredit — Sun, 17 Jun 2018 01:29:00 GMT

Lol, thanks JR

Thanks Remedios

Miesterbro, see anything you like for Christmas?

Re: Sears upgrade to Mastercard!

joltdude — Sun, 17 Jun 2018 02:26:04 GMT

Wonder if theres a CLI included in the upgrade?

-J

Re: Sears upgrade to Mastercard!

Anonymous — Sun, 17 Jun 2018 05:15:36 GMT

Congrats AJC

Re: Sears upgrade to Mastercard!

AverageJoesCredit — Sun, 17 Jun 2018 12:11:27 GMT

Thanks Voltron, and good question Jolt. I recently got a 2k cli on my Sears card, so, which blew me away . Never had gotten a cli on Sears without hp. Would be cool, here good sir is your new MC, please take 10k as our appreciation

Re: Sears upgrade to Mastercard!

DCnDC — Sun, 17 Jun 2018 12:58:46 GMT

That's awesome!

Re: Sears upgrade to Mastercard!

wasCB14 — Sun, 17 Jun 2018 13:43:40 GMT

@AverageJoesCredit wrote:
Hey guys and gals. I wIsh everyone a safe and happy Fathers Day tomorrow

Got a letter today from Sears. I'm being upgraded to Sears Mastercard with new terms starting 7/30/18. I can decline but only until 8/02/18. Should receive card by 8/30/18.

Says I was part of a select group of cardmembers who have been chosen to receive an upgrade. Probably marketing there but who cares, I'm happy.

Even if Sears goes bye bye it's nice to have a card that may stick around.

Card will come with updated account number. Can continue to use my card login etc. Heres the key part for all you upgrade lovers, in underlines "Your entire account history and original account open date will remain the same!" Woo hoo, take that Synchrony

Good luck to any fellow store card holders who would like the upgrade, I hope you get it

So the old account stays open? Or the current account will report as closed and a new account will be opened and backdated with full details of the old account's history?

Re: Sears upgrade to Mastercard!

Anonymous — Sun, 17 Jun 2018 14:13:24 GMT

Congratulations AJC!

Re: Sears upgrade to Mastercard!

AverageJoesCredit — Sun, 17 Jun 2018 15:03:38 GMT

@wasCB14 wrote:
@AverageJoesCredit wrote:
Hey guys and gals. I wIsh everyone a safe and happy Fathers Day tomorrow

Got a letter today from Sears. I'm being upgraded to Sears Mastercard with new terms starting 7/30/18. I can decline but only until 8/02/18. Should receive card by 8/30/18.

Says I was part of a select group of cardmembers who have been chosen to receive an upgrade. Probably marketing there but who cares, I'm happy.

Even if Sears goes bye bye it's nice to have a card that may stick around.

Card will come with updated account number. Can continue to use my card login etc. Heres the key part for all you upgrade lovers, in underlines "Your entire account history and original account open date will remain the same!" Woo hoo, take that Synchrony

Good luck to any fellow store card holders who would like the upgrade, I hope you get it
So the old account stays open? Or the current account will report as closed and a new account will be opened and backdated with full details of the old account's history?

From reading the letter, the only thing that will change on my credit report will be the new account number as it statesafter you receive the MC your Sears account will automatically be replaced on the credit Bureau with the new Mastercard account number. Your entire account history and original account open date will remain the same. Also in regards to how it could impact ones credit profile, it states because the Sears Mastercard replaces an existing account on your credit report, it will not change the number of open accounts on your report. But because how you use all your credit accounts affects your credit profile, we cant say what impact this replacement will have.

So in my view, not really closing the old account merely replacing it with the newer account as if that was the account since opening.

Re: Sears upgrade to Mastercard!

Brian_Earl_Spilner — Sun, 17 Jun 2018 15:07:28 GMT

But...how many points do you earn for shopping at Sears? #QuestionsThatMatter

Re: Sears upgrade to Mastercard!

AverageJoesCredit — Sun, 17 Jun 2018 15:17:29 GMT

More than if I used an Amex

Jk

Re: Sears upgrade to Mastercard!

Brian_Earl_Spilner — Sun, 17 Jun 2018 15:26:56 GMT

Would you get better return on rewards if you used amex at Sears, or a penfed powercash?

Re: Sears upgrade to Mastercard!

shoegal — Sun, 17 Jun 2018 16:28:37 GMT

Congrats AJC! 🎉

Re: Sears upgrade to Mastercard!

AverageJoesCredit — Sun, 17 Jun 2018 16:33:13 GMT

Thanks Shoegal

Probably get a higher return using my Walmart Sam's visa

Re: Sears upgrade to Mastercard!

joltdude — Sun, 17 Jun 2018 22:40:31 GMT

AJ and Penfed dont play nice together....

Re: Sears upgrade to Mastercard!

coldfusion — Sun, 17 Jun 2018 23:06:18 GMT

@AverageJoesCredit wrote:
@wasCB14 wrote:
@AverageJoesCredit wrote:
Hey guys and gals. I wIsh everyone a safe and happy Fathers Day tomorrow

Got a letter today from Sears. I'm being upgraded to Sears Mastercard with new terms starting 7/30/18. I can decline but only until 8/02/18. Should receive card by 8/30/18.

Says I was part of a select group of cardmembers who have been chosen to receive an upgrade. Probably marketing there but who cares, I'm happy.

Even if Sears goes bye bye it's nice to have a card that may stick around.

Card will come with updated account number. Can continue to use my card login etc. Heres the key part for all you upgrade lovers, in underlines "Your entire account history and original account open date will remain the same!" Woo hoo, take that Synchrony

Good luck to any fellow store card holders who would like the upgrade, I hope you get it
So the old account stays open? Or the current account will report as closed and a new account will be opened and backdated with full details of the old account's history?
From reading the letter, the only thing that will change on my credit report will be the new account number as it statesafter you receive the MC your Sears account will automatically be replaced on the credit Bureau with the new Mastercard account number. Your entire account history and original account open date will remain the same. Also in regards to how it could impact ones credit profile, it states because the Sears Mastercard replaces an existing account on your credit report, it will not change the number of open accounts on your report. But because how you use all your credit accounts affects your credit profile, we cant say what impact this replacement will have.

So in my view, not really closing the old account merely replacing it with the newer account as if that was the account since opening.

My Sears store card was converted to the Citi co-branded MC soon after Citi took over the portfolio ~ 15 years or so ago. The credit history carries over intact, it's not like a Synchrony conversion.

Citi has been running targeted rewards promotions for the co-branded Sears MC every quarter for the last couple of years. If you meet your targeted minimum spend each month (it varies from person to person) you get 10% back in Citi TYP points if you had previously signed up to get points, else 10% back as a statement credit. If you are targeted for an upcoming quarterly promo you will get a snail mail letter detailing the promotion and instructions on how to opt-in for the promo.

This quarter I'm working on a $800/month minimum grocery store/restaurant/gas spend promotion. The $800 minimum yields 8000 TYP points, up to 25,000 points per month, or $80-$250 in statement credits. The spend is measured monthly, for example if one met the minimum last month they're locked in for last month's reward even if they didn't meet the minimum this month.

Congrats on the upgrade - thanks to the recent spate of promotions this card has become a bit of a sleeper. My Sears store card was my first real card so there's a certain nostalgia associated with it.

Re: Sears upgrade to Mastercard!

Anonymous — Sun, 17 Jun 2018 23:12:03 GMT

Congrats! I'm hoping mine will do the same