New Shop Your Way Mastercard Promo (Sears)

[CreditBloke]

I just received this email. Keep an eye out for yours! 

Earn a $50 statement credit when you make eligible purchases totaling $750 or more on your Shop Your Way Mastercard® from 4/22/2021 (or the date you activate this offer, whichever is later) through 5/20/20211.

[AverageJoesCredit]

I wish i could actually spend money. Sears has fantastic offers and bts for a card that everyone fears will go away. 

[FormerCollegeDJ]

In all seriousness, what benefit does the Shop Your Way Mastercard provide when your rewards are in the form of Shop Your Way points that you have to use at the Shop Your Way/Sears/Kmart website and/or the rapidly dwindling number of brick and mortar Sears and Kmart stores remaining?

In the latter category, both the last Sears and last Kmart located near where I live just permanently closed last weekend (4/18/21) and the closest Kmart locations are now 200+ miles away.  (There still is a Sears about 40 miles from where I live.)  The vast majority of Sears and Kmart stores that still remained when Eddie Lampert/Transformco bought the company from Sears Holdings Company (previously headed by Lampert before they declared bankruptcy) about two years ago have since closed.

Citi/Sears HAVE provided some very good offers on their credit cards in recent years, but the only ones that have real value IMO are those that are targeted towards the Citi Sears/Thank You Mastercards that were converted from earning Sears/Kmart Shop Your Way rewards to earning Citi Thank You rewards a few years ago.

It should be obvious from what I'm saying above, but it should always be emphasized that the quality of credit card's rewards isn't merely tied to the magnitude of those rewards (including percent rewards/cash back); it is also tied to how those rewards can be used and how flexible they are.  A card can have the greatest rewards program in the world, but if the rewards have little or no use for you, then the card's rewards aren't very good.

[FormerCollegeDJ]

I realized I was probably overly harsh in my comments about the Shop Your Way Mastercard, especially with regard to the $50 rebate offer.  What can I say - I was tired when I typed that message; I actually took a nap shortly after typing it, LOL.  Getting 6 2/3% percent cash back in the form of a statement credit with $750 in spend is a very good offer on any card if it doesn't require a hard pull.

Having said that, getting rewards in the form of Shop Your Way Rewards still is a low value reward, especially compared to the actual sign-up bonuses most rewards cards offer when approved for a card.

[CreditBloke]

@FormerCollegeDJ, it looks like you have had the card since 2009. I think what the card was and is are two different things, and it isn't for everyone. I specifically got it for the promos, and that is it. I don't shop at Sears never really did, even when I worked there back in the day. Last KMart disappeared a while back, and I always preferred Target to it. Although I fear it may go away soon, I have a good cashback setup if it does. Hoping I will be able to cash out the SYWrewards for a gift card to Walmart, Amazon, or a restaurant in the future but not holding my breath. I only use the card during the promo periods. This particular one will come out to be about 6.6 % off purchases I would have made; that is better than my 5 percent cards, so that makes me happy!