Use up Sears/Kmart GCs and SYWR ASAP

Someone

Level 2 Member
From the "news we all knew was coming" department... yesterday Sears' management announced they have serious doubts they can remain a going concern.

https://www.google.com/search?q=sears&tbm=nws

It's time to use up any remaining Sears and Kmart gift cards you've been sitting on. Shop Your Way Rewards will likely die too. If you have returns or broken tools to exchange, get them done ASAP. Don't be a bagholder, er I mean unsecured creditor.

Don't count on them accepting GCs during any forthcoming bankruptcy clearance sales.
 

rastaman

Level 2 Member
I'd advise to burn the points before anything else. The gift cards will likely have a required period that they can be redeemed. The SYWR points have "no cash value" so they will be shut off immediately when they declare bankruptcy.

Also, their store closing sales are handled by third parties and their sales are worse than everyday regular prices. They may do something else when the day comes but don't count on it.

With all that said, I have about $500 in points to burn and a couple hundred in GC's. I don't think the bankruptcy will occur in the next couple months but will probably liquidate to be safe. I think I read that slick eddie has to keep them afloat past July if he wants to keep some of the deals he made intact. They still can sell Diehard and Kenmore brands and that cash could keep them afloat a little longer.

Something interesting to consider. Sears/ Kmart GC's can be used at Lands End. I'd imagine if there is some sort of bankruptcy at SHLD, Landsend may have some obligation to allow them to still be used at their stores. Better safe than sorry but something that could happen...

Code:
https://www.landsend.com/_popup/pop_giftcard_0204_faq.html
 

Someone

Level 2 Member
I didn't realize we could use newer Sears GCs at Lands End, thanks for that info @rastaman

Sometimes my wife orders a bunch of sizes from Lands End then returns whatever didn't fit. Sometimes she waits so long to return that they mail her out a check (usually a separate check per item which gets really annoying), but this could be a way to cash out Sears GCs (albeit slow and ethically questionable)
 

rastaman

Level 2 Member
Sometimes my wife orders a bunch of sizes from Lands End then returns whatever didn't fit. Sometimes she waits so long to return that they mail her out a check (usually a separate check per item which gets really annoying), but this could be a way to cash out Sears GCs (albeit slow and ethically questionable)
A lot of stores actually allow you to purchase the Visa GC's with Sears/ Kmart GC's. There was some memo a while back that said it was ok. However, a lot of cashiers will still not allow it...
 

Cmonman76

Level 2 Member
A lot of stores actually allow you to purchase the Visa GC's with Sears/ Kmart GC's. There was some memo a while back that said it was ok. However, a lot of cashiers will still not allow it...
Used to do this a lot when portals paid out 6-10x on giftcards. But once my Sears ran out of VGC's and MGC's they have never restocked.
 

Someone

Level 2 Member
Used to do this a lot when portals paid out 6-10x on giftcards. But once my Sears ran out of VGC's and MGC's they have never restocked.
Pretty much the same here. I still check every few weeks (my Simon mall has a sears) but only find VGCs in stock once a quarter at best.
 
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