If you’re a frequent shopper at Big Lots, the Big Lots Credit Card could be an enticing option. This store-branded card offers exclusive perks and promotional financing opportunities to cardholders, allowing you to stretch your budget and enjoy more from your purchases. However, as with any credit card, it’s important to weigh the benefits and drawbacks before applying. In this article, we’ll break down everything you need to know about the Big Lots Credit Card, so you can make an informed decision.
Exclusive Cardholder Perks
1. Special Financing Offers
One of the primary benefits of the Big Lots Credit Card is access to special financing offers on qualifying purchases. Depending on the current promotions, cardholders can enjoy no-interest financing if the balance is paid in full within the promotional period, often 6, 12, or 24 months. This can be a valuable perk if you’re planning larger purchases like furniture or home décor.
2. Exclusive Discounts and Coupons
Cardholders often receive exclusive discounts and coupons, making it easier to save on both regular and sale items. These offers can be seasonal or event-specific, giving you more value for your money.
3. Easy Online Account Management
Big Lots Credit Cardholders benefit from convenient online account management, allowing you to monitor your account, check balances, and make payments from the comfort of your home or on the go.
4. No Annual Fee
Perhaps one of the most appealing perks is that the Big Lots Credit Card comes with no annual fee, making it easier to maintain without any extra financial burden.
Big Lots Credit Card* Quick Facts
Here’s a quick rundown of some essential details about the Big Lots Credit Card:
- Issuer: Comenity Capital Bank
- Credit Score Requirement: Fair (600-649)
- Annual Fee: $0
- APR: Variable APR around 29.99%
- Late Payment Fee: Up to $40
- Special Financing: 6, 12, or 24 months of promotional financing
- Minimum Payment: The greater of $30 or 3.5% of your balance
Big Lots Credit Card* Drawbacks
While the Big Lots Credit Card offers numerous perks, there are also some drawbacks that potential applicants should consider.
1. High APR
The 29.99% variable APR is considerably high, especially if you carry a balance beyond the promotional financing period. This could lead to significant interest charges, so it’s crucial to pay off the balance before any promotional period ends.
2. Limited Usability
The Big Lots Credit Card can only be used at Big Lots. It’s not a general-use card like a Visa or Mastercard, which could limit its overall utility if you don’t shop frequently at Big Lots.
3. Deferred Interest Trap
If you don’t pay off your promotional balance within the financing period, deferred interest will be applied retroactively to your balance. This can result in higher charges than anticipated if you’re not careful with timely payments.
4. Lack of Rewards Program
Unlike other store credit cards, the Big Lots Credit Card does not offer a traditional rewards program where you can earn points or cashback for purchases. While there are discounts and coupons, these offers aren’t as consistent as a rewards-based credit card.
Who Should Get the Big Lots Credit Card*?
The Big Lots Credit Card is ideal for:
- Frequent Big Lots Shoppers: If you regularly shop at Big Lots for home furnishings, décor, or groceries, this card could save you money on larger purchases through exclusive discounts and financing.
- People Planning Big Purchases: With special financing options for significant purchases, this card is an excellent choice if you’re buying furniture, mattresses, or seasonal items and want to spread payments over time.
- Those Seeking No Annual Fee: If you’re looking for a credit card with no annual fee that won’t add to your financial burden, this card fits the bill.
On the other hand, this card might not be the best option for those who:
- Don’t shop at Big Lots often
- Prefer general-use cards with rewards
- Don’t plan to take full advantage of special financing offers
Alternatives to the Big Lots Credit Card*
If you’re unsure whether the Big Lots Credit Card is right for you, here are some alternative options that could provide more flexibility and benefits:
1. Amazon Store Card
- Perks: 5% cashback for Amazon Prime members, special financing, no annual fee.
- Best For: Frequent Amazon shoppers looking for cashback and financing options.
2. Target REDcard
- Perks: 5% off all purchases, free shipping, extended returns.
- Best For: Shoppers who regularly buy from Target.
3. Citi Double Cash Card
- Perks: 2% cashback on every purchase (1% when you buy, 1% when you pay).
- Best For: Consumers who want a flat-rate cashback card with no category restrictions.
4. Capital One Quicksilver Cash Rewards Card
- Perks: 1.5% cashback on all purchases, no annual fee.
- Best For: Those looking for simple cashback rewards on everyday purchases.
Conclusion
The Big Lots Credit Card offers exclusive benefits, particularly for frequent shoppers who plan on making larger purchases and taking advantage of promotional financing. While the high APR and limited usability may not make it the best fit for everyone, it can be a valuable tool for saving money at Big Lots if used responsibly.
When considering this card, be sure to weigh the benefits of financing and exclusive offers against the potential drawbacks, such as deferred interest and limited use. If you shop at Big Lots often, this card could be a good addition to your wallet, but for others, alternatives like the Amazon Store Card or a general cashback card may offer better rewards and flexibility. Also Check Big lot suvrey
FAQs
Does the Big Lots Credit Card have an annual fee?
No, the Big Lots Credit Card does not have an annual fee, making it a low-maintenance option for frequent shoppers.
Can I use the Big Lots Credit Card anywhere else?
No, the Big Lots Credit Card is a store card and can only be used at Big Lots stores or on the Big Lots website.
What credit score is needed for the Big Lots Credit Card?
A credit score of at least 600-649 is recommended for approval, which falls under the “fair” credit category.
Does the Big Lots Credit Card offer rewards?
The Big Lots Credit Card does not have a traditional rewards program, but cardholders can benefit from exclusive discounts and special financing offers.
How can I manage my Big Lots Credit Card account?
You can manage your Big Lots Credit Card online through the Comenity Bank portal, where you can check your balance, make payments, and monitor transactions.