Chat with us, powered by LiveChat

What Bank Issues the Kohl’s Credit Card?

The Kohl’s Credit Card Basics

Let’s start with the basics, shall we? The Kohl’s credit card is a retail card issued by Capital One, one of the largest banks in the United States. But, it’s not just any old credit card – it’s a special co-branded card that allows you to earn rewards specifically for shopping at Kohl’s department stores.Now, you might be thinking, “Why would I need a separate credit card just for one store?” Well, here’s the deal: retail credit cards like the Kohl’s card often come with perks and benefits that can make shopping at that particular retailer more rewarding. In the case of the Kohl’s card, you’ll earn rewards in the form of Kohl’s Cash, which can be redeemed for future purchases at Kohl’s.

The Kohl’s Credit Card Rewards Program

Here’s how the Kohl’s Credit Card rewards program works: for every dollar you spend at Kohl’s using your card, you’ll earn 7.5% back in rewards. Those rewards are issued as Kohl’s Cash coupons, which arrive on the first of the following month after you’ve earned them.For example, let’s say you spend $100 at Kohl’s in June using your Kohl’s Credit Card. In that case, you’d earn $7.50 in Kohl’s Cash rewards, which would be issued to you on July 1st. But, there’s a catch – those Kohl’s Cash coupons expire after 30 days. So, you’d need to use that $7.50 in Kohl’s Cash by July 31st, or it would become void.Now, I know what you’re thinking: “That’s a lot of rules and restrictions just to earn rewards at one store.” And you’re right, it can seem a bit complicated. But, for die-hard Kohl’s shoppers who frequent the store regularly, those rewards can really add up over time, making the Kohl’s Credit Card a valuable tool in their shopping arsenal.

- -
See also  How Medical Debt Can Lead to Social Isolation and Family Conflict

The Kohl’s Credit Card Interest Rate and Fees

Of course, like any credit card, the Kohl’s card comes with an interest rate and potential fees. As of my knowledge cutoff in September 2021, the Kohl’s Credit Card had a variable APR of 24.99%. That’s on the higher end for a retail credit card, but it’s important to remember that this card is meant for those who plan to pay their balance in full each month to avoid interest charges.There is no annual fee for the Kohl’s Credit Card, which is a nice perk. However, there are fees for things like late payments and returned payments, so it’s crucial to stay on top of your due dates and have sufficient funds in your account when your bill is due.

Applying for the Kohl’s Credit Card

If the Kohl’s Credit Card sounds like something you’d be interested in, the application process is pretty straightforward. You can apply online through the Kohl’s website, over the phone, or in-person at any Kohl’s retail location.During the application process, you’ll need to provide some personal and financial information, such as your name, address, date of birth, Social Security number, and annual income. Capital One will then review your application and credit history to determine if you qualify for the card.One thing to keep in mind is that the Kohl’s Credit Card is a retail card, which means it may be easier to qualify for than a traditional credit card from a major issuer like Chase or American Express. However, that doesn’t mean everyone will be approved – your credit history and income will still play a role in the decision.

See also  Secured vs Unsecured Business Loans: Key Differences

The Kohl’s Credit Card: Pros and Cons

Like any financial product, the Kohl’s Credit Card has its pros and cons. Let’s break them down:

Pros

  • Earn rewards specifically for shopping at Kohl’s
  • No annual fee
  • Potential for discounts and special financing offers
  • May be easier to qualify for than a traditional credit card

Cons

  • Rewards expire after 30 days
  • High interest rate
  • Can only be used at Kohl’s (no flexibility)
  • May encourage overspending at Kohl’s

As you can see, whether the Kohl’s Credit Card is a good fit for you depends on your shopping habits and financial situation. If you’re a frequent Kohl’s shopper who pays your balance in full each month, the rewards and potential discounts could make the card worthwhile. However, if you tend to carry balances or prefer more flexibility in where you can use your credit card, you might be better off with a general cash back or travel rewards card.

- -

Alternatives to the Kohl’s Credit Card

Speaking of alternatives, let’s talk about some other options you might want to consider instead of (or in addition to) the Kohl’s Credit Card:

Cash Back Credit Cards

If earning rewards at Kohl’s isn’t a top priority, a cash back credit card could be a better choice. Cards like the Citi Double Cash and the Chase Freedom Unlimited allow you to earn cash back on all of your purchases, not just those made at a specific retailer.The great thing about cash back cards is that you can redeem your rewards for statement credits, bank account deposits, or even gift cards – giving you much more flexibility than a retail card like the Kohl’s card.

See also  Seeking Help for a Gambling Problem Before Debt Spirals

Travel Rewards Credit Cards

For those who love to travel, a travel rewards credit card could be a better fit. Cards like the Chase Sapphire Preferred and the American Express Gold Card allow you to earn points or miles that can be redeemed for flights, hotel stays, and more.While you won’t earn bonus rewards specifically for shopping at Kohl’s, the value you can get from travel rewards cards often outweighs the benefits of a retail card, especially if you’re not a frequent Kohl’s shopper.

Store Loyalty Programs

Finally, it’s worth noting that you don’t necessarily need the Kohl’s Credit Card to take advantage of Kohl’s rewards and discounts. The retailer also offers a free loyalty program called Kohl’s Rewards, which allows you to earn $5 in Kohl’s Cash for every $100 you spend, regardless of how you pay.While the earning rate is lower than the Kohl’s Credit Card (5% vs. 7.5%), it’s still a way to earn rewards at Kohl’s without having to open a new credit card account.

The Bottom Line

At the end of the day, the decision to apply for the Kohl’s Credit Card comes down to your personal shopping habits and financial goals. If you’re a loyal Kohl’s shopper who pays their balance in full each month, the rewards and potential discounts could make the card a valuable addition to your wallet.However, if you’re looking for more flexibility or tend to carry balances, you might be better off with a cash back or travel rewards card from a major issuer. And don’t forget about Kohl’s Rewards – it’s a free way to earn rewards at Kohl’s without having to open a new credit card account.No matter what you decide, just remember: a credit card is a tool, and it’s up to you to use it responsibly. As long as you pay your bills on time and avoid overspending, the right credit card can be a valuable asset in your financial toolkit.

- -

Get Debt Relief Today

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$500,000 MCA Restructured Over 3 Years
"Thanks for helping me in literally 24 hours"
Jason
$250,000 SBA Loan Offer in Compromise
"Great choice for business owners who need a trustworthy partner"
Mary
$350,000 MCA Restructured Over 2 Years

In The Media

Delancey Street CEO discusses ways to reward employees
Delancey Street CEO discusses the benefits of franchising on Forbes.
Delancey Street CEO discusses management on AMEX.
Best South Dakota Personal Injury Lawyers

Hey there, South Dakotans! If you’ve found yourself in a…

Best Tampa, Florida Financial Planners

Hey there! Are you feeling overwhelmed by the sheer number…

Best Colorado Springs, Colorado Business Consultants

Finding the Right Financial Planner in Colorado Springs Hey there,…

Best Colorado Springs, Colorado Financial Planners

Best Colorado Springs, Colorado Financial Planners Hey there! So, you’re…

Best Tucson, Arizona Financial Planners

The Ultimate Guide to the Best Financial Planners in Tucson,…

Delancey Street simply gets it. You're talking to experts.
Steven Norris
Get Help Today

Ready To Get Started?

If you have questions, feel free to shoot us an email, or fill out our live chat.

Schedule Consultation