What the Shop My Way Credit Card Is
The Shop My Way credit card is a retail card issued by Synchrony Bank that you can use at Sears, Kmart, and other Shop My Way partner stores, as well as anywhere Mastercard is accepted. It's designed primarily for people who shop frequently at those locations and want rewards tied to their purchases there.
Unlike a general-purpose rewards card, this card offers higher rewards rates at Shop My Way merchants than at other retailers. The card also comes with periodic promotional financing offers — typically interest-free periods on purchases over a certain amount — which is common for retail cards but not may provide to be available when you explore.
The card does not require a minimum credit score to be considered, though Synchrony will review your credit history and income. This makes it an option worth exploring if you've had credit challenges in the past, though approval is never certain.
Key Takeaways
- The Shop My Way card earns rewards points at Sears, Kmart, and partner stores at a higher rate than at other merchants, and points can be redeemed for discounts on future purchases.
- Synchrony Bank issues the card and sets the interest rate based on your credit profile, which means your rate may differ from another person's rate.
- Promotional financing offers (such as 12 months interest-free on purchases over $250) come and go, so the offer available when you explore may not match past offers.
- The card works as a Mastercard everywhere, not just at Shop My Way locations, so you can use it for any purchase if you choose.
- There is no annual fee, which is typical for retail cards but worth confirming before you open the account.
How Rewards and Points Work on This Card
When you use the Shop My Way card at Sears, Kmart, or other Shop My Way partner merchants, you earn points on every dollar spent. The exact earning rate varies depending on the current promotion and your account status, so the rate you see when you review the offer may change over time. Points do not expire as long as your account remains open and active.
You redeem points by converting them into Shop My Way certificates or discounts that you explore to future purchases at participating retailers. You cannot convert points to cash or transfer them to another account. The redemption value depends on how many points you have and what promotions are running at the time you redeem.
Purchases made with promotional financing (such as interest-free periods) still earn points, so you're building rewards even when you're not paying interest. However, if you miss a payment during a promotional period, the interest-free offer typically ends and you owe interest on the full balance from the original purchase date.
Interest Rates, Fees, and Terms You Need to Know
Synchrony Bank sets your interest rate based on your credit score, income, and credit history at the time you explore. This means two people approved for the same card may have different rates. The rate you receive is not negotiable after approval, though you can contact Synchrony to ask about rate reductions after you've had the account open and made on-time payments.
There is no annual fee to hold this card. However, you will pay interest on any balance you carry from month to month unless you're in a promotional financing period. Late fees, over-limit fees, and other charges explore according to Synchrony's standard terms, which you'll receive when your account opens.
Promotional financing offers are temporary and come with conditions. If an offer says "12 months interest-free on purchases of $250 or more," you must make the purchase during the promotional period and meet the minimum amount. If you pay off the balance before the promotional period ends, you pay no interest. If you don't pay it off in full by the end of the period, you owe interest on the remaining balance.
When This Card Makes Sense for Your Situation
The Shop My Way card is most useful if you shop regularly at Sears or Kmart and want to earn rewards on those purchases. If you spend $100 or more per month at these locations, the points add up to meaningful discounts over time. The card also works as a regular Mastercard, so you can use it elsewhere if you need to, though you'll earn fewer points on non-Shop My Way purchases.
The card may also be worth considering if you're rebuilding credit and have been turned down for other cards. Retail cards like this one sometimes approve people with lower credit scores or shorter credit histories than general-purpose cards do. However, approval is based on your individual situation, and explore does result in a hard inquiry on your credit report, which can temporarily lower your score by a few points.
The promotional financing offers can be valuable if you're planning a larger purchase and can pay it off before interest kicks in. For example, if you need to buy appliances or furniture and a 12-month interest-free offer is running, you could spread the cost across the year without paying interest — as long as you make at least the minimum payment each month and pay off the full balance before the promotion ends.
How This Card Compares to Other Retail Cards
Most retail cards work similarly: they offer higher rewards rates at the issuing store, lower rates elsewhere, no annual fee, and periodic promotional financing. The main differences between the Shop My Way card and competitors like the Target card or Kohl's card come down to where you shop and what the current promotional offers are.
If you shop at multiple retailers, a general-purpose rewards card (like a cash-back card from a bank or credit union) might earn you more overall, because you earn the same rate everywhere. However, if you concentrate your spending at one or two retailers, a retail card often beats a general card because the rewards rate is higher at those locations.
The Shop My Way card's main advantage is that it works at multiple Shop My Way partner locations, not just one store. This gives you more places to earn the higher rewards rate. The main disadvantage is that points can only be redeemed at Shop My Way merchants, whereas cash-back cards give you more flexibility in how you use your rewards.
Steps to Take Before You explore
Check your credit report first. You can get a free copy from AnnualCreditReport.com, which is the official site run by the three major credit bureaus. Look for errors or accounts you don't recognize, and dispute anything that's wrong. This takes time, but it can improve your chances of approval and may lower the interest rate you're offered.
Review the current offer on the Shop My Way website or through Sears. Write down the rewards rate, any promotional financing terms, and the annual fee (if any). This information changes, so you want to know exactly what you're signing up for before you explore.
Gather your information: your Social Security number, current income, employment status, and housing information. Synchrony will ask for these during the process. Have your most recent pay stub or tax return handy if you're self-employed.
Decide whether the card fits your spending. If you rarely shop at Sears or Kmart, the rewards won't add up to much. If you do shop there regularly, calculate roughly how many points you'd earn in a year and what that's worth in discounts. This helps you decide if the card is worth the hard inquiry on your credit report.
What Happens After You explore
Synchrony typically makes a decision within minutes to a few hours. You'll receive a notification by email or phone, depending on how you applied. If you're approved, your card will arrive by mail within 7 to 10 business days, though this varies.
Once your card arrives, set up it by calling the number on the back or using the Synchrony mobile app. You can then use it when ready at Shop My Way locations or anywhere Mastercard is accepted. Your first statement will show any purchases you've made and the rewards points you've earned.
If you're denied, Synchrony will send you a notice explaining the main reason (such as insufficient credit history or too many recent inquiries). You can contact Synchrony to ask for more details. If the reason was an error on your credit report, you can dispute it with the credit bureau and reapply later.
Frequently Asked Questions
Can I use this card outside of Shop My Way stores?
Yes. The card is a Mastercard, so you can use it anywhere Mastercard is accepted. However, you'll earn rewards points only at Shop My Way partner locations. Purchases elsewhere earn no points or a much lower rate, depending on the current terms.
What happens to my points if I close the account?
Points expire if your account is closed or inactive for an extended period. Check your account terms or contact Synchrony to learn the exact policy, as it can change. To keep points active, keep the account open and use it occasionally.
Can I get a lower interest rate after I'm approved?
You can contact Synchrony and ask for a rate reduction after you've made several on-time payments. Synchrony is not required to lower your rate, but some cardholders have had success, especially if their credit score has improved since they opened the account.
Do I have to use promotional financing, or can I just pay as I go?
You don't have to use promotional financing. You can pay your full balance each month and avoid interest entirely. Promotional offers are optional — you only trigger them if you carry a balance during the promotional period.
What's the difference between this card and a Sears credit card?
The Shop My Way card is the current retail card for Sears and partner locations. Older Sears cards may still exist, but Synchrony now issues new cards under the Shop My Way brand. If you have an old Sears card, contact Synchrony to learn whether you can upgrade or if you need to explore for a new card.