Sears MasterCard changes coming Nov 16th/2015

Just received a letter outlining a "possible " change to the Sears MC. No Sears points will be earned on these cards unless Sears can find a third party to work with as they are no longer being associated with Chase. I'll just post the letter.

I have not earned many Sears points myself in over 5 years because I find Sears prices high. When they offer a Clinique gift with purchase I spoil DD with a bag or two, at Xmas those special cards from Mac's Milk that saved me $10.00 off at Sears but other than that my card collects dust instead of points, ha ha.

Yes i received this notice yesterday too bad

Thanks so much for posting this, Walks! I received this in French, which I am unable to read fluently, so I wasn't sure what it said. Really appreciate your sharing. I too, have points just collecting dust. Guess they have to be used soon, eh? Don't want to just lose them.

Woah! this is crazy....my mom has this card and she uses it to purchase stuff from grocery stores even...so does that mean she won't be able to make anymore purchases outside of Sears? (or is this only affecting some kind of financing situation if someone is in)
And what the eff is going on with making payments at Sears? what does that have to do with anything, this is really going to suck...we have a Sears 5 mins. away, we don't have a car, so my mom always goes there and pays her card off all the time...what the heck is going on with that? they won't be accepting anymore payments? so what then? where are you supposed to go?
...man this has really gone downhill fast...I guess I should tell my mom to slow down with the purchases and pay off what she can and cancel the card :/ this is crazy..

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Originally Posted by A007

Woah! this is crazy....my mom has this card and she uses it to purchase stuff from grocery stores even...so does that mean she won't be able to make anymore purchases outside of Sears? (or is this only affecting some kind of financing situation if someone is in)
And what the eff is going on with making payments at Sears? what does that have to do with anything, this is really going to suck...we have a Sears 5 mins. away, we don't have a car, so my mom always goes there and pays her card off all the time...what the heck is going on with that? they won't be accepting anymore payments? so what then? where are you supposed to go?
...man this has really gone downhill fast...I guess I should tell my mom to slow down with the purchases and pay off what she can and cancel the card :/ this is crazy..

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That is exactly the reason I posted this notice @A007 ! For people much like your Mom who use their card everywhere to collect Sears points.
Your Mom will still be able to buy anything anywhere with her Sears card but she won't earn any points from the purchases IF that new partnership is not formed before Nov 15th.

Tell her to just watch and wait to see IF Sears ends up finding a company to take the place of the partnership they had with Chase.
If they do then I think nothing will change, BUT as you can see from the details in the letter if they don't then she will lose any points she has accumulated because it says you won't be able to redeem.
I think she will have to find another place to pay her bill though because it does say no to paying it at Sears store locations.
I fully intend to cancel my card, as I mentioned in OP, I only really used it a couple times a year....if that.
I think the tough one would be for anyone that wanted to purchase say a large appliance on one of their financing plans, they say there will be no more of that either.

Thank you so much for letting me know, my mom says she hasn't received the letter yet...maybe soon. But she says she will stop using her Sears mastercard and only pay it off and go to PCFinancial or something.

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Originally Posted by A007

Thank you so much for letting me know, my mom says she hasn't received the letter yet...maybe soon. But she says she will stop using her Sears mastercard and only pay it off and go to PCFinancial or something.

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Tell her to Go to pcfinancial. :thumbs_up: :)

http://www.theglobeandmail.com/repor...ticle21610688/

JP Morgan will cut its ties with Sears November of next year. Sears is generally in poor financial condition and, according to this fellow, "isn't making any money selling merchandise".

Edited to add: we received a notice with our statement that states
that their relationship with Chase Bank, JPMorgan, is scheduled to end on November 15, 2015. (not 2016 as in the video)
Ito goes on to read that:

~ As of 11:59pm, EST, on November 15, 2015, your card will no longer earn Sears Club Points.

~ You will no longer be able to redeem Sears Points using your card.

~ Payments at Sears locations will no longer be accepted.

~ You will no longer be able to make purchases using financing program.

So if you have points accumulating, you may want to use them this Christmas.....

I'm bummed about this :( We put everything on this card. We usually redeem $200-$300/year, put it towards new clothes for the kids. Saves us a lot of money. I'm hoping they can agree with someone to keep the points going otherwise I'll have to sign up for a PC credit card. Might as well earn points for something we're going to use anyway... but Sears is always my first choice. Boo hoo.

got another letter today, the kind that looks more like a flyer ( addressed admail ) sealed in the centre.

a confusing letter from Sears assuring me that starting Nov 16th I can STILL earn Sears Club Points when paying by cash, debit or any CC accepted by Sears. Wondering if that might be their way of saying that the partnership they had with Chase for their Sears MC is definitely not being replaced? There was no mention of earning points if you used the Sears MC after Nov 16th, but they do say " in the meantime, keep using your Sears Financial CC to earn points. " Hmmmmm.

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Originally Posted by walkonby

got another letter today, the kind that looks more like a flyer ( addressed admail ) sealed in the centre.

a confusing letter from Sears assuring me that starting Nov 16th I can STILL earn Sears Club Points when paying by cash, debit or any CC accepted by Sears. Wondering if that might be their way of saying that the partnership they had with Chase for their Sears MC is definitely not being replaced? There was no mention of earning points if you used the Sears MC after Nov 16th, but they do say " in the meantime, keep using your Sears Financial CC to earn points. " Hmmmmm.

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BTW...sorry I didn't see that you had started a thread on this, Walks....

Hubby phones the 800 number on the first notice that we assume was from Chase, and is getting a CC for the amount equal to his points. I used $20 I had on my card when I made a purchase at Sears yesterday and the two gals at the cash register assured me that we would not be losing out points, that Sears would "absorb" (?) them and/or they'd be converted to whatever new CC company Sears will be partnering with.
This all seems a little sketchy to me. Personally...and this is just me because I trust no one, lol...I'd get a CC in the amount of points I have now, or use them up. No harm done, right? But I'd get them before the Case bank cut-off date. But like I said, that's my personal opinion.

yup^^^ +1 :top:, and I am glad I had JUST redeemed my points for a GC about 3 weeks ago maybe? Mine are done now.

Sears will be sending out info in the next few weeks regarding a new loyalty card for its customers. The points that are currently on Sears cards or Sears master cards will be moved over to the Sears loyalty card (kind of like Optimum from SDM). This new loyalty card will not be a credit card. They have not yet released the details of what credit options customers will have. I'm guessing it's because they have not secured a contract with a company.

[QUOTE=bargain_hunter_lola;6473916]Sears will be sending out info in the next few weeks regarding a new loyalty card for its customers. The points that are currently on Sears cards or Sears master cards will be moved over to the Sears loyalty card (kind of like Optimum from SDM). This new loyalty card will not be a credit card. They have not yet released the details of what credit options customers will have. I'm guessing it's because they have not secured a contract with a company.[/QUOTE


Too many ifs and and buts...which is why Walks and I have used our points because we're old enough to know that the promises made by failing companies mean very little...;)

Because a few people asked via pm, here is some info I found online regarding the new loyalty program

http://www.newswire.ca/news-releases...527537831.html

https://ca.finance.yahoo.com/news/se...220700902.html