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【2020.11 Update】The TYP>SYWR ratio has now been adjusted to 1:10. In other words, the value you can cash out from TYP through this method is at most 1c/p, so there’s not much point anymore. It’s still unclear whether Citi will improve this ratio in the future.

【2020.10 Update】Recently, the cap for redeeming SYWR points for gift cards has increased quite a bit. You can now redeem up to a $500 gift card in one transaction, whereas many cards used to be capped at $30. If you have a large stash of TYP, this method can still get you 1.2c/p in value, which is quite good if you can use the gift cards. For example: Walmart, eBay, Apple, and more.

About Shop Your Way Rewards (SYWR)

I thought this redemption option was interesting enough to deserve its own post. If you know any clever ways to use it, feel free to share in the comments.

SYWR is a rewards program run by Sears, Kmart, and Lands' End. You can earn SYWR points by spending money or completing certain activities. The points are worth 1,000 points = $1.

In the past, SYWR was not especially useful because points could only be redeemed at the merchants above. Kmart made it a bit better since you could buy groceries and household essentials. Recently, though, SYWR added a new redemption option: you can now redeem directly online for third-party gift cards, which makes the program much more useful.

Of course, even if you’ve never shopped with Sears and its related stores, you can still accumulate SYWR in other ways and redeem for gift cards.

Also, Citi ThankYou Points, which many of us are familiar with, can be transferred to SYWR. That’s what we’ll focus on below.

Important notes:

  • Right now, not all accounts can do the SYWR-to-gift-card step. According to SYW, only some users are currently targeted, and broader access should roll out over the next few weeks.
  • Based on reader reports, one old Sears account had no problem redeeming for gift cards, and two newly registered users were also able to redeem. You may want to test with 10,000 points for a $10 GC first. Their SYWR all came from TYP transfers.
  • Not all SYW points can be redeemed for gift cards. For example, SYW earned from Sears purchases cannot be redeemed for gift cards, while SYW transferred from TYP can.

TYP>SYWR->Gift Cards

The Citi ThankYou Points (TYP) to SYWR transfer ratio used to be pretty good at 1:12. That means 1,000 TYP = 12,000 SYW = $12 in gift cards, which is better than redeeming gift cards directly at 100 TYP = $1. If you can use some of the higher-value gift cards, you’re effectively getting 1.2c/p out of your TYP. When travel is limited, that can be a pretty solid option, especially since even with Premier you’d only get 1.25c/p toward travel redemptions.

How It Works

  • You first need to register for a Sears account, and then you can log in as an SYWR member (Sears, Kmart, Lands' End, and SYW are all part of the same ecosystem). Note: after logging into SYWR, you may receive an email like the one below. Be sure to confirm your membership, or the redemption steps below may fail.
  • Log in to your Citi account and you should see that TYP can be transferred to SYWR at 1:12.
  • During the transfer, you’ll need to enter your SYWR account information. Once transferred, the points post to SYWR instantly.
  • Then go to the SYWR gift card page to redeem. There are many options, including Walmart, eBay, iTunes, etc. These should all be first-party gift cards.
  • The redemption ratio is the same across merchants: 10,000 points for a $10 gift card. These should be EGCs, and they are emailed to you immediately after redemption.
  • This is what the final result looks like (thanks to reader Lich for providing the screenshot).
  • In practice, converting TYP at 1:1.2 into useful gift cards like Walmart or iTunes was a pretty good deal.

Things to Watch Out For

  • If you plan to redeem a large amount, I would not recommend transferring too many TYP into SYWR all at once. Start with 1,000 TYP as a test first. TYP->SYWR transfers are instant anyway.
  • It’s still unclear whether repeatedly redeeming $30 gift cards could cause issues. That said, I would not recommend loading hundreds of $30 gift cards into an iTunes account all at once, since that could trigger fraud reviews and get your ID locked. The same caution applies to other accounts as well.
  • Because redemption denominations were relatively small, it’s best to check how many gift cards each merchant allows per transaction before using them. For example, eBay, Nordstrom, and Staples all have maximum limits.

Some Use Cases

Pair It with Citi Rewards+

If you plan to redeem a large amount of TYP, the Rewards+ card is very useful because the annual 10% points rebate is excellent. Redeem 100,000 TYP and you get 10,000 points back, which would be another $120 in gift cards. You can also get this card via product change. If you have a Citi card you plan to close, consider converting it to this no-annual-fee card and keeping it.

Apply now

Full review

Citi Rewards+ Credit Card

No annual fee! Best paired with other Citi TYP credit cards

  • Welcome bonus: No longer available to apply for, but you can product change.
  • Rewards: 2x points at supermarkets and gas stations (on the first $6000 in purchases); 1x points on all other purchases. Earn at least 10 points per transaction.
  • Redemption: If you also hold a premium card, points can be transferred 1:1 to airline miles or hotel points; get 10% points back on redemptions
  • Annual fee: $0
  • Apply now>>

Some Gift Cards Worth Considering

  • Walmart gift card: You can consolidate balances onto one gift card in-store. You can also use it on sams.com to buy a Sam's Club gift card, which can be used at both Walmart and Sam's. You may also be able to buy third-party gift cards.
  • iTunes gift card: You can load it into your Apple account for future use. After the revamp, iTunes gift cards can also be used for iPhone, iPad, and Mac purchases, so they’re quite practical now (see details here).
  • hotels.com gift card: These can be combined online (see details here).
  • Google Play: Can be loaded into your Google Play account.
  • GameStop gift card: Some stores still let you use these gift cards to buy third-party gift cards.
  • Gift of Choice: According to FM, SYWR can only redeem this as a $1 gift card, and even then it errors out. Their gift cards can be exchanged for Amazon, Target, and other gift cards.

Summary

I was honestly pretty surprised. Sears has been on the verge of collapse and constantly closing stores, yet it still came up with a new redemption angle. My personal guess is that this opportunity won’t last very long. If you’re interested, it’s best to try a small redemption first, and if everything works, then redeem more. After all, getting 1:1.2 toward common gift cards was a pretty decent option during this unusual period.