Sears and Citi partner for new loyalty offer

Sears store

Sears Holdings and Citi Retail Services are teaming up to offer Sears MasterCard holders the opportunity to earn Shop Your Way points at partner merchants. 

Users can link their SYW account to their MasterCard and earn points at participating gas stations, grocery stores, restaurants and merchants, in addition to purchases made at Sears and Kmart stores. 

The percent earned will vary – from 5 percent to 1 percent – by outlet and amount, prompting the company to call the program 5-3-2-1 Shop Your Way

RELATED: Lampert loans Sears $300M

Points can then be used toward purchases at Sears and Kmart stores and can be combined with other point-earning programs through existing partnerships. 

The more than 5 million Sears MasterCard holders will automatically receive the offer on Nov. 1 and earn more SYW points on a complimentary basis through Dec. 31, 2017. Newly designed Shop Your Way branded cards will be issued to members starting March 2017.

RELATED: Sears to close more Kmart stores

"By deepening our longstanding relationship with Citi through this important partnership, it enables us to deliver a best-in-class offer that rewards Shop Your Way members for activity in their daily lives," said Sears chairman and CEO Eddie Lampert. "We are focused on making the card a core element of the Shop Your Way member offering as it supports the program's generous rewards, partnerships and experiences. Enhancing Shop Your Way benefits for Sears MasterCard holders is the latest step in the evolution of the Shop Your Way program and is another example of how we are transforming Sears Holdings to focus on serving our members in a wide variety of ways."

Lampert and Sears are focused on growing the SYW program, which aims to extract more sales from the company's best and most frequent customers, both in store and online. New features and benefits continue to be added to SYW, even as sales continue to slide at Sears and Kmart stores. 

RELATED: Sears' Lampert: Kmart is not closing

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