Why It's Time to Ditch Your Store Credit Card
Store credit cards from places like Old Navy, Kohls, Target, and more seem like a great idea at the register but come with some major drawbacks.
We’ll briefly go through some of these drawbacks, then show the credit cards you should be using instead.
No 0% Intro APR
Most store credit cards do not offer 0% Intro APR for any amount of time. Many of the cards shown below provide 0% Intro APR until 2022!
Cash Back is limited
Most store credit cards allow you to only redeem cash back at their store, or a group of stores that they own. Each of the recommended cards on this list allow you to redeem cash back for any purchase as a statement credit. You’ll no longer be caged into redeeming your cash back at one store.
Incredibly High Interest
Store credit cards can charge you up to 26.99% in interest charges. Depending on your credit worthiness and after the long 0% Intro APR period you could get an interest rate as low as 13.99%. That’s almost half of what a store credit card could charge you.
The choice is simple, ditch your store credit card for one of the cards below and enjoy 0% Intro APR, more flexible cash back, and avoid high on-going interest charges.
Bank of America® Cash Rewards credit card
You pay no annual fee with this red credit card from Bank of America, and new cardholders can earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Earn more cash back on your terms with the Bank of America® Cash Rewards credit card. This popular card offers one of the most flexible cash back programs available – earn 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% on every purchase.
You'll also enjoy a year of 0% intro APR while you earn cash back for the things you buy most. This card offers 0% Intro APR for 12 billing cycles for any balance transfers made in the first 60 days and 0% Introductory APR on purchases for 12 billing cycles.
Blue Cash Everyday® Card from American Express
The Blue Cash Everyday® Card from American Express is a lucrative cash back card that also comes with a lengthy intro APR: 0% on purchases for 15 months. That can be a lifesaver if you need to make a big purchase and want to spread your payments out over time, interest free. New cardholders also earn a welcome offer of a 20% back on purchases at Amazon.com on the Card in the first 6 months, up to $200 back. Plus, earn $100 back after you spend $1,000 in purchases on your new Card within the first 6 months.
For everyday cash rewards you earn bonus cash back for the things you buy most: 3% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% Cash Back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases Finally, cardholders love that even with all these perks, this card comes with no annual fee.
American Express Cash Magnet® Card – $150 Welcome Offer
Keep more of your hard-earned money with unlimited 1.5% Cash Back on your purchases with the American Express Cash Magnet® Card – $150 Welcome Offer. American Express makes earning cash back easy – no more worrying about rotating categories or having to sign up to earn bonus rewards. New cardholders can also kickstart their cash rewards and earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months.
But it doesn't stop there, you can also use the American Express Cash Magnet® Card – $150 Welcome Offer to get out from under steep interest rates with an intro APR of 0% on purchases for 15 months. And did we mention that the American Express Cash Magnet® Card – $150 Welcome Offer comes with no annual fee? There's a lot to love with this powerful piece of plastic!
Citi® Double Cash Card – 18 month BT offer
The Citi® Double Cash Card – 18 month BT offer is the only cash back card with an intro APR of 0% for 18 months on Balance Transfers AND it's the only card that allows you to earn cash back twice.
Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. There are no limits to how much cash back you can earn and your cash back won't expire. With these great perks, the Citi® Double Cash Card – 18 month BT offer is truly one of a kind.
This card is perfect option for any consumers who don't want to put any extra thought into their credit card rewards. There's no rotating categories and no special bonuses on certain spending. And with the top-tier intro APR on balance transfers you could save hundreds of dollars by escaping those pesky interest charges on your current credit card.
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card makes earning cash back easy with a generous unlimited 1.5% Cash Back on every purchase, every day and a one-time $200 Cash Back after you spend $500 on purchases within 3 months from account opening. This card can also help you avoid high interest rates with an APR of 0% intro on purchases for 15 months.
We love this card because it takes the hassle out of earning cash back – there are no rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn. With the lucrative combo of 0% intro APR and cash back rewards on purchases, this card might be the perfect fit to help you save big. And to top it off, there is no annual fee.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express is a top-tier rewards card specifically designed for consumers who spend a lot of money on groceries and gas purchases. Cardholders receive 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more. 3% Cash Back at U.S. gas stations. 1% Cash Back on other purchases.
In addition to the generous rewards rate, you can take advantage of a stellar Limited Time Offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Plus, there is a $0 introductory annual fee for one year, then $95. These two perks expire 12/10/20, so apply today! And to top it off, there is an intro APR of 0% on purchases for 12 months .
Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card is a no annual fee card offering market-leading cash back rates on the things you love most – food and entertainment. On top of an APR of 0% intro on purchases for 15 months, this card comes with a stellar rewards rate of unlimited 3% Cash Back on dining, 3% Cash Back on entertainment, 2% Cash Back at grocery stores, 1% Cash Back on all other purchases.
If you spend a lot in those bonus categories then the cash back can pile up fast. There are no rotating categories or sign-ups needed to earn cash rewards and new cardholders also receive a one-time $200 Cash Back after you spend $500 on purchases within 3 months from account opening. All in all, the Capital One SavorOne Cash Rewards Credit Card is a no-brainer for anyone that loves dining out, or spends a lot on grocery shopping.
Chase Freedom Flex℠
Flex your financial muscles with the powerful Chase Freedom Flex℠ and secure 0% Intro APR on Purchases for 15 months. That lengthy intro period will help you escape high interest rates and you'll also enjoy stellar cash back rewards on new purchases. Cardholders earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.
But the cash back doesn't stop there – earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year. There's even a whopping $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Despite with the lucrative cash rewards and generous 0% intro APR, the Chase Freedom Flex℠ comes with NO annual fee!
