I thought Kohl’s had cornered the market on sales gimmicks but I didn’t complain. I liked shopping there every now and then. Hubby did too. We also liked shopping on their website on occasion. A few years ago, as I was prepping for tax time, I looked through our file of receipts. Apparently, hubby and I enjoyed shopping at Kohl’s much more frequently than I had realized. We quickly determined having Kohl’s credit card might be a smart move.

My mind was screaming against my heart, “Are you nuts? Store credit cards are the worst. They ensnare you with snazzy wheeling and dealing only to gouge you with high interest rates.” My heart countered cooed, “Look at the money saving bonus for signing up, see the twelve discounts a year, and the opportunity to become a MVC (Most Valued Customer)?” My heart won.

We easily opened a store line of credit and swiftly earned MVC status. That was three years ago. Currently we’re well on our way to retaining this privilege through February 2009! Oh, the honor for MVC is six additional discounts a year when you spend $600.00 in annual Kohl’s charge purchases. See how Kohl’s has the marketing and sales tricks down? They keep reeling you in repeatedly and we’re suckers.

Who wouldn’t be? Kohl’s has some fantastic sale prices. The 15% (sometimes 20% or 30%) credit card discount coupons are valid on all items. Regular priced, sale, and clearance goods all count. That makes for some outstanding deals as long as you completely pay or mostly pay off your credit card balance each month.

That’s the only drawback to the Kohl’s card. They have an outlandish 21.9% interest rate. This wasn’t the case when we initially opened our card. It was a much more reasonable rate at about half of the current one. However, they recently made changes to their program due to I believe, a buy out or merger of some kind with a big bank. I no longer recall the exact details but I certainly know the interest rate change. Fortunately, they tell you on your monthly statement exactly how much must be repaid (thankfully, not the entire balance) in order to avoid finance charges.

Honestly, the card is a good deal if you do a lot of shopping at Kohl’s stores. There is no annual fee but there is one for late payments. I think it is a $25.00 charge. I’m not positive because we were only late once (by a day) and after I called customer service, they waived the late fee as a customer courtesy. That experience left me impressed with Kohl’s friendly service and willingness to help. They fostered a sense of authentic customer appreciation and in turn spurred loyalty in me to their company.

A simple and straightforward online account access is another huge bonus. This wasn’t available when we first acquired the Kohl’s credit card. They developed it a short time after and I love it. You can effortlessly activate your card, become a registered on line card holder, and monitor your account in just a few steps. Look at the top right hand corner of www.kohls.com for the “My Kohl’s Charge” tab. It will take you right there.

Kohl’s unfussy statements are easy to read (paper or online). I appreciate their down-to-earth format. Financial status, customer contact information, and transaction history of is clear-cut. I like how they list the items I have purchased by date and include the total spent as well as the discount received. It helps trigger my memory of how much I spent and what I spent it on. It also gives me a fast glimpse at when I bought an item so I can more easily locate the receipt if needed.

I think Kohl’s credit card is one of the best department store cards available. I like shopping there – a lot evidently. Sure, they have sales propositioning mastered but so do a few other stores I frequent excessively. I’m glad we have the card; it turned out to be an intelligent action after all.

UPDATE:

10/16/2010:

I don't think we'll make MVC status this year. I haven't spent enough. Still, I use this card plenty and am careful to pay the balance in full or at least the amount required to avoid a finance charge. I wish other card companies were as great to deal with as Kohl's.

Recommended: Yes