Kohl’s Credit Card: Know This Before Applying
Kohl’s Credit Card
If you regularly shop at Kohl’s and have at least a fair credit score, then the Kohl’s Credit Card could be worth adding to your wallet. However, in a world where store credit cards are often pushed onto consumers, it is critical to understand exactly what making this decision entails.
In this article, we will uncover the pros and cons of the Kohl’s credit card that are helpful to know before applying.
Kohl’s Credit Card Overview
For some background, the Kohl’s Credit Card is issued by Capital One and can only be used at Kohl’s stores. Fortunately, with nearly 1,200 stores in the United States offering products from some of the most trusted brands, this retailer is a household name for consumers. While we do not recommend spending recklessly, if you shop at Kohl’s fairly often, you may want to consider signing up for this credit card.
As a bonus, if you are a regular Kohl’s member earning 5% in Kohl’s cash – prepare for 50% more rewards earned on every single purchase. This is just one perk of this credit card option, so keep reading below to see even more:
Pros
- $0 annual fee
- Fair Credit Score approved
- 7.5% Rewards (Kohl’s Cash)
- 35% off your first Kohl’s Card purchase
- Bonus savings and offers throughout the year (When you spend $600+ in a calendar year)
Cons
While this credit card has its perks, some significant shortcomings could impact your decision on whether or not to apply. See some key cons of the Kohl’s Credit Card below:
- High Variable APR (Currently above 30%)
- Late Payment Fees (Up to $40)
- Limited Usability (Only at Kohl’s stores)
- Balance Transfers are not permitted
How to Cancel a Kohl’s Credit Card
If you find yourself no longer wanting to own the Kohl’s credit card, there are 2 methods of canceling your credit card: online or through a phone call. With this understanding, it’s important to note that you are unable to cancel your Kohl’s Credit Card in person.
Keep in mind, that you will still be responsible for any outstanding balances on your account, and closing your account could negatively affect your credit score.
- Online
- Click Here to sign in to your Kohl’s Card account. Once logged in, go to “I want to,” then “Control your card” then follow the instructions within “Close Account.”
- Phone
- Call customer service by using the phone number located on the back of your Kohl’s Credit Card. You will be prompted to verify your identity with your account number and Social Security numbers. Afterward, you will connect with a customer service representative and explain that you are looking to cancel your card.
Recap
At the end of the day, if you find yourself shopping at Kohl’s often and are always financially responsible with credit cards, then this option could be worth applying for.
Looking for a less rigid, No Annual Fee credit card with some excellent perks? Check out our review of the Blue Cash Everyday® Card from American Express. (See Rates & Fees).
