The Sears Credit Card: A Relic of Retail Past or Still Relevant?

The Sears credit card, once a staple for many American households, has seen its prominence diminish alongside the retail giant itself. But with a restructured Sears and Kmart presence, is the card still worth considering? Let's take a look.

The Basics:

The Sears credit card, now issued by Citibank, operates differently than it once did. It's tied to the Shop Your Way rewards program, which encompasses Sears and Kmart, as well as some partner merchants.

The Potential Perks:

• Shop Your Way Rewards: The card is linked to the Shop Your Way program, allowing you to earn points on purchases at Sears, Kmart, and participating partners.

• Potential Financing Offers: From time to time, Sears may offer promotional financing options for cardholders, such as deferred interest or reduced APR periods.

• Occasional Discounts: Cardholders may receive targeted discounts or coupons.

  
  

The Significant Drawbacks:

• Limited Retail Presence: Sears and Kmart's shrinking footprint significantly reduces the card's value.

• Shop Your Way Complexity: The Shop Your Way rewards program can be complex, with varying point values and redemption options.

• High APR: Like most store cards, the Sears credit card typically carries a high APR, making it costly to carry a balance.

• Citibank: While Citibank is a major bank, customer service reviews for retail cards can vary.

• Diminished Relevance: The card's primary appeal was tied to a once-dominant retailer, and that dominance is long gone.

  
  

  Who Might Consider the Sears Credit Card?

• Die-Hard Sears/Kmart Loyalists: If you're a frequent shopper at the remaining Sears or Kmart locations and consistently utilize the Shop Your Way program, you might find some value.

• Those Utilizing Promotional Financing: If you plan to take advantage of specific promotional financing offers and pay off the balance before the promotional period ends, it could be a benefit.

Who Should Definitely Avoid It?

• Occasional Shoppers: Given the limited store locations, occasional shoppers will find little to no use for this card.

• Those Who Carry a Balance: The high APR makes this card a poor choice for anyone who carries a balance.

• Those Seeking Versatile Rewards: General-purpose cash-back or travel rewards cards offer far greater flexibility.

• Anyone who is not already heavily invested in the Shop Your Way program.

The Verdict:

The Sears credit card's relevance has significantly declined with the retailer's shrinking presence. For most consumers, a general-purpose credit card with better rewards and lower APRs is a far superior choice. The Shop Your Way program is still active, but if you are not already utilizing it, this credit card is not a good reason to start.

Before You Apply:

• Assess Your Shopping Habits: Honestly evaluate how often you shop at Sears or Kmart.

• Understand the Shop Your Way Program: Thoroughly research the rewards program and its complexities.

• Compare Alternatives: Explore other credit card options with better rewards and lower APRs.

• Read the Fine Print: As always, carefully review the card's terms and conditions.

In today's retail landscape, the Sears credit card is largely a relic of the past. Unless you have a strong, specific reason to use it, it's likely not a wise financial choice.