Hoffman Estates, Ill. Sears has become the first major retailer to offer its cardholders access to their credit score at no additional cost. Sears on Thursday said its cardholders can review their credit score at any time, understand the factors that affect their credit score and learn how to improve their score using the innovative "credit score simulator" tool.
In other add-on features to its credit-card program, the retailer will offer special deals, including extra discounts, deferred interest financing offers and valuable coupons in their its statements. Sears is also introducing a Sears Platinum MasterCard whereby cardholders can enroll in the complimentary Sears Choice Rewards program, which rewards customers with merchandise, travel, dining and more. Members earn one point for every $1 spent on all purchases and have the opportunity to enjoy exclusive bonus point events.
"The recent changes in the credit-card industry are making their way across all retail credit programs, which includes Sears and those of our competitors as well," said Susan Ehrlich, president, Sears Financial Services, Sears Holdings. "It is now more vital than ever to offer customers innovative ways to pay that meet their financial needs. As a retailer, we also want to do everything we can to give cardholders more retail value."