Excellent Department Store Card
Written: May 31 '06
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Pros: many ongoing promotions to cardmembers
Cons: high rate of interest
The Bottom Line: I would recommend to anyone who shops Kohl's regularly to get a Kohl's card. It is great!
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| plparsons's Full Review: Kohl's Credit Card |
I love this store. And yes, I am a GUY writing this on here, and I don't spend all day at the store, but I think that it's one of the best stores around.
I am a bank manager who needs a store that can outfit a guy with decent dress clothes and not be a budget buster.
After being hired at the bank, I went to Kohl's to be pleasantly surprised by the sale prices that day. The best part was the ongoing promotion to get people to save more money by opening up a store credit account and getting another 15% off the whole purchase.
Of course, many people would say that they don't need another credit card and so on, but if you plan on paying it off monthly or nearly all off each month to avoid the high interest rate, I would suggest this card. Again, you have to have the willpower and budgeting to have another card in your pocket. Basically, it's best to choose a top 5 or so cards that you would use and cancel the rest to help your credit.
One downfall to the Kohl's department store card is the high rate of interest. For most people who carry a balance, the account accrues interest at a high rate of 20% or more. Typically their rates are also based on the Prime Rate of Interest published in the Wall Street Journal. Again, it's in a person's best interest to pay as much as possible each month or pay the balance in FULL to avoid high charges from this card.
Anyhow, the business clothing that Kohl's had to offer me in my banking career are great. I ended up buying a new suit, 5 pairs of slacks, 5 dress shirts, 3 ties, a new pair of shoes and some dress socks. Overall, the whole purchase would have been about $435, which isn't bad at all. However, with the 15% off the purchase, that helped a lot! What was even more helpful in the store was that the guy at the checkout was nice enough to give us an additional "friends and family" 15% discount, which ended up making the original $435 purchase only $325!!!
Once I received my statement in the mail for this purchase, I went on the internet and registered my Kohl's account online to pay the bill with my regular checking account to avoid using a stamp and so on. This was a very easy process and I would suggest to anyone to do this. This allowed me to pay my payment on time and the company received my payment the next business day promptly. Plus the internet access allows me to see up to date charges and so forth that are being placed on this account. This is nice to ensure someone else has not used the account fraudulently.
Also, Kohl's has their typical regular card for most shoppers and then they have their "Most Valued Shopper" card, which is for those persons who spend over $650 in a year at their stores. These shoppers get more "perks" since they spend more and the company spends more marketing dollars to get them to come into the store and buy merchandise. Another great thing for those persons who really use the card and need the clothes and other merchandise.
Kohl's is a store that I could end up buying something every time I go into the store. They have great merchandise at great prices. Again, it's great if you have the willpower and inner strength to pay the bill each month in FULL. I am lucky enough to do so, therefore I do that with this account.
Finally, the other perk that comes along with being a card member is the monthly discounts that are sent throughout the year. There are 12 additional monthly "mailers" that come to the home that also spur someone to purchase with the card, such as another 15% off the discounted prices for a "certain day" or something.
Recommended:
Yes
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Epinions.com ID:
plparsons
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Member: Phil Parsons
Location: Lansing, KS
Reviews written: 30
Trusted by: 3 members
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