JCPenney doubles rewards earnings rate in program revamp

JCPenney is launching a new free loyalty offering that includes a credit card component.

The department store retailer is introducing the new JCPenney Rewards and Credit Program, part of its broader plan called "Make It Count" that will see the company spend over $1 billion by the end of 2025 to fuel long-term enterprise growth and increase customer loyalty and frequency.

Currently, the retailer says its rewards program has more than 20 million members that consistently shop at JCPenney an average five times per year. The new iteration offers enhancements including:

• Customers will reach rewards up to two times faster, earning at least one CashPass point per $1 spent and receiving a $10 CashPass Reward when they hit $200.
• Rewards can be stacked on top of other coupons and can be used on any purchase. • 
• A $10 CashPass Reward for joining and another $10 CashPass Reward on member birthday. 
• Customers who are JCPenney cardholders will receive JCPenney’s best price guarantee and earn CashPass Rewards 50% faster when using a JCPenney credit card for purchases. Cardholders will earn 1.5 CashPass points per $1 spent, receive a $10 CashPass Reward when they spend $133, and enjoy an extra 35% off their first purchase with their JCPenney credit card. 
• Opportunities to unlock additional savings and earn more rewards, including the chance to meet NBA legend and JCPenney brand ambassador Shaquille O’Neal. On Saturday, May 4, anyone who comes to a JCPenney store between 11 a.m. and 1 p.m. local time, signs up for rewards or shows their rewards status and takes O’Neal’s challenge to score a three-point basket into a shopping cart will receive a mystery coupon worth at least $10 and up to $100 off, while supplies last. Rewards members can film their attempt to shoot a three-point basket and share it on social with #JCPRewards for the chance to be selected to meet O’Neal in-person later in the year.

"We want every trip to JCPenney to be worth it. We want it to be easier to take advantage of our rewards, easier to reach rewards milestones, and to make it a sure thing that every member sees rewards each year," said Katie Mullen, chief customer officer, JCPenney. "Enhancing our rewards program is an important piece of how we bring value to our customers, but not the only piece. We want to continue to earn the loyalty of America’s diverse working families."

JCPenney, which emerged from bankruptcy in late 2020 under new owners Brookfield Asset Management and Simon Property Group, currently operates 650-plus stores across the U.S. and Puerto Rico.