The Big Lots Credit Card Complete Usage Guide & Credit Card Review.
The Big Lots Credit Card: This card is useful if you are going to regularly fund major purchases from Big Lots stores. It offers considerable flexibility in terms of repayment, with the option of taking 6 or 12 months to pay for a no-interest purchase.
What is Big Lots?
Big Lots is a discount department store that sells a variety of goods, from the pantry to furniture. Its credit card program has been discontinued, so you can not apply for a traditional store card. There are however ways you can still get credit for certain items at Big Lots.
Big Lots Credit Card Highlights
Here are the highlights of the Big Lots Credit Card:
Annual Fee: $0
Sign-Up Bonus: $0
6-month deferred interest plan for purchases of $250 or more
12-month deferred interest plan for purchases of $750 or more
In-store card lookup so you don’t need to bring your card to shop
Special cardmember offers
Flexibility to choose from available financing options when making a purchase
In-store account lookup to complete your purchase, should you forget your Big LotsCredit Card
The minimum payment will be the greater of:
Your statement balance
The sum of all regular revolving credit plan minimum payments
Regular revolving credit plan minimum payments are the greater of:
3.5% of the new balance, rounded up to the nearest dollar
Big Lots Credit Card Fees:
Up to $38 for late payments
Up to $38 for returned payments
High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 29.99%
No annual fee. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don’t have to pay an annual fee for the privilege.
Fair or better credit required. You stand a chance of qualifying if your credit score is not below 650.
Advantages of Big Lots Credit Card
There are a few reasons that you should consider applying for the Big Lots Credit Card.
Save money on interest
Exclusive savings opportunities
No annual fee.
They report to multiple credit bureaus.
Big Lots Credit Card: Drawbacks and Downsides
There are definite drawbacks to consider before applying for this Credit Card.
Higher than average purchase APRs.
It does not offer a signup bonus.
It does not offer rewards or cashback.
You don’t earn rewards on every purchase.
It does not include many rewards.
Can only be used at Big Lots stores
Deferred interest plans can be dangerous
What Do I Need To Apply?
This Card is the most convenient way to pay for the crazy good deals you find every day at Big Lots. It’s faster than writing checks and safer than carrying cash. Plus, you get online account access 24 hours a day. To apply, you must:
Have a valid government-issued photo ID
Be at the age of majority in your state or territory
Have a valid government-issued tax identification number (such as an SSN or SIN)
For frequent Big Lots shoppers who want the flexibility to pay for their purchases over time, the Big Lots Card is a good choice. If you are able to handle the deferred-interest financing deals properly, you can save a great deal of money and gain the flexibility to pay your credit card bill. However, most people will be better off with a cash-back card that works anywhere and earns some sort of rewards.