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As a closed-loop retail card usable only at Kohl’s stores, it’s designed squarely for Kohl’s loyal customer base.
Kohl’s has over 1,100 store outlets in 49 states. This means that you are likely to find a Kohl’s store near your location. And with the wide array of offerings the store presents, you’ll certainly find something to shop from Kohl’s departmental stores.
But is the card worth the craze? Are the discounts offered worth having the card?
Let’s find out. This review covers all the key features, benefits, and drawbacks of the Kohl’s Card. With that, you can decide if it’s worth having it in your wallet.
Pros and Cons of the Kohl’s Card
If you are considering applying for a Kohl’s card, you might as well want to know about its pros and cons. What are its strong points, and what makes it not so great?
Let’s start with the awesome side of it.
Pros of the Kohl’s Card
Firstly, the card offers a huge discount on your first purchase. A 35% discount off your total purchase is a significant amount. Imagine you made a purchase worth $200. You’ll only need to pay $130. Now, that’s an awesome deal.
Kohl’s has a normal rewards program that rewards you with a 5% discount on your purchases. However, Kohl’s cardholders get an even better deal. They receive a 7.5% discount.
The card has multiple discounts and promotions throughout the year, including one on a monthly basis. This means that if you can keep up with the promotions, you can really reap huge rewards.
Kohl’s Card Cons
So, what makes this credit card not so great?
This first one is obvious – you can only use it at Kohl’s stores or kohls.com. This limits your rewards-earning scope.
Secondly, Kohl’s cash rewards expire in just 30 days. This is pretty easy to miss the redemption option.
Lastly, it might be quite challenging to monitor the promotions. As such, you might miss so much on available chances of winning rewards.
Rates and Fees of the Kohl’s Card
The first interest rate to consider here is the purchase APR. For this card, the annual percentage rate stands at 31.24%. However, this is dependent on the Prime Rate, meaning it might vary from time to time.
With the Kohl’s Card, you might also incur a Penalty APR. And when it occurs, be ready to part with around 24.9% of your card’s balance.
Luckily, this credit card has no annual fee. However, there is a Kohl’s credit card late fee of up to $40. Some good news is that the late fee will be 0 if your balance is $15 or less.
Eligibility Criteria and Requirements
To qualify for the Kohl’s Card, you’ll generally need a fair to good credit score (typically 640 or higher). Also, you must have a verifiable income source.
Being over 18 years of age is also a requirement. Plus, you must be a US resident.
Lastly, you should meet other standards determined by Capital One. You’ll also need to provide certain documents like a photo ID, proof of income, SSN, and residential information when applying.
Kohl’s Credit Card Application Process
You can apply for the Kohl’s Credit Card online at apply.kohls.com or in person at any Kohl’s retail location. The application will require providing personal information and income details and may also involve a hard credit check.
If approved, you’ll receive the physical Kohl’s Card in the mail within 7-12 business days. Be sure to activate the card and make your first purchase to receive the introductory 35% discount. Then, start taking advantage of the rewards, discounts, and special financing benefits moving forward. If you need any further assistance, you can contact Kohl’s customer support via the Kohl’s credit card phone number on the back of your card or on your monthly statements.
