Big Lots Charge Card Review and Comparison

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The Big Lots Charge Card has a variable APR, ranging from 24.99% to 27.99% based on creditworthiness.

If you're already a Big Lots credit card holder, you can earn 5% cash back on all purchases, which is a great incentive to keep using the card.

The Big Lots Charge Card has no annual fee, making it a relatively low-cost option for those who shop at Big Lots frequently.

The card's rewards program is designed to help you save money on everyday purchases, which can add up over time.

Benefits and Features

The Big Lots charge card has some benefits, but they're not as exciting as some other store credit cards. One nice perk is deferred interest financing for eligible purchases, which allows you to pay off the balance without interest if you pay it off within the applicable time frame.

You'll get six months to pay off purchases of $250 to $749 and 12 months for purchases of $750 or more. However, keep in mind that this is deferred interest, which means interest still accrues during this period.

Special member offers are also available for holding this card, although the details of these offers are unclear.

No Annual Fee

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One of the best things about this card is that it has a no annual fee, so you won't need to worry about an added yearly cost.

This means you can enjoy the benefits of the card without any extra expenses.

The annual fee is $0, which is a huge perk for anyone looking to save money.

Earn Rewards

You can earn rewards for your Big Lots purchases, but it's a bit more complicated than other rewards programs. You'll earn $5 in rewards after spending $100 in purchases, but transactions on promotional credit plans don't count.

The rewards can only be used at Big Lots stores, so you won't be able to redeem them anywhere else. Big Lots uses earning periods, which are three-month periods that fall one month behind the quarterly calendar.

For example, your spending from February through April will determine how many $5 rewards credits you qualify for in that earning period. Your spending will reset for the next earning period, so you'll need to keep track of your spending to maximize your rewards.

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The earning periods are: February 1 to April 30, May 1 to July 31, August 1 to October 31, and November 1 to January 31. Any spending you've done only counts toward receiving rewards during the earning period it's spent, and then it disappears.

If you spend $95 with Big Lots between November 1 and January 31, for instance, that $95 will no longer count toward rewards on February 1. You'll need to make at least $5 more in purchases by January 31 to earn your $5 reward.

Introductory APR Offer

The Big Lots credit card's introductory APR offer is a special financing deal that can save you money on interest charges. If you make a purchase over $250 at a Big Lots store, you can get six months of deferred interest financing, while purchases of $750 or more qualify for 12 months of deferred interest financing.

During this promotional period, you'll only need to make the minimum payments, but be aware that interest is still accruing from the date of purchase. This means that if you don't pay off the entire balance by the end of the promotional period, you'll be charged retroactive interest on the full purchase amount.

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If you're planning to take advantage of this offer, make sure to pay off the entire balance by the end of the promotional period to avoid these interest charges. The regular APR on this card is a steep 35.99% variable, so it's essential to pay off the balance before the promotional period ends.

Here's a summary of the introductory APR offer:

Rewards and Discounts Small

The Big Lots credit card rewards and discounts are pretty underwhelming. Unlike many other store credit cards, the Big Lots card offers no ongoing rewards program.

You'll only earn rewards once you've spent a certain amount, and it's a closed-loop card, meaning you can only use it at Big Lots. The earnings structure is pretty strict, with a $5 reward for every $100 spent.

You'll need to spend $100 within a specific time frame to earn rewards, and any spending that doesn't meet this requirement will disappear. For example, if you spend $95 between November 1st and January 31st, that $95 will no longer count toward rewards on February 1st.

You can earn multiple $5 rewards in the same earning period, but the rewards will expire 60 days after issuance, giving you limited time to use them. The rewards can only be redeemed for in-store purchases, which might not be super practical.

Welcome Offer

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The Big Lots charge card has a welcome offer that's definitely worth knowing about. New cardholders may get a welcome coupon.

Big Lots does offer a discount on the first in-store purchase made with the card, but the exact amount is unclear. This is a regular benefit of the card, and the discount amount may vary.

A recent offer was $25 off of the first in-store purchase, but it's unclear if this is still available. Big Lots doesn't disclose the details about other special offers available to cardholders.

The store landing page for the Big Lots credit card mentions that a discount will be offered to new Big Lots credit card holders. However, it's unclear how much this discount is for.

Drawbacks and Risks

The Big Lots charge card may seem like a convenient option, but it comes with some significant drawbacks and risks. Special financing terms are a big risk, as they're often code for deferred interest, which can end up costing you huge sums.

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Deferred interest can be tricky to understand, but essentially, it means interest charges are put on hold for a promotional period, only to be charged retroactively when the period ends. This can be especially problematic if you have any balance remaining on the purchase when the promotional period ends, even just 1 cent.

The APR on the Big Lots Credit Card is extremely high at 35.99% variable APR on purchases, making carrying a balance on the card extremely expensive. This is well above average, even among store credit cards.

Carrying a balance on the card can be a big expense, with the ongoing interest rate of 29.99% APR (as of February 2023). This is significantly higher than the average interest rate for credit cards that incurred interest in 2022, which was 20.40%.

If you're considering using the Big Lots charge card, make sure you understand the risks involved and are prepared to pay the consequences. Be aware of the special financing terms and the high APR, and try to pay off your balance in full each month to avoid any unnecessary charges.

Application and Eligibility

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To apply for the Big Lots Credit Card, you'll need to go to the application page on Comenity Capital's website, or click the "Learn More" button on sites like WalletHub. Fill in the requested personal information, such as your name, address, phone number, SSN or ITIN, and date of birth.

You'll also need to provide financial information, including your income, sources of income, employment status, and housing status. This will help Comenity Capital evaluate your eligibility for the card.

Once you've submitted your application, you may receive a decision right away.

Ways to Apply

You can apply for the Big Lots Credit Card in a few different ways. The fastest and most straightforward way is online, by clicking "Learn More" on sites like WalletHub or through Comenity Capital's website.

To apply online, you'll need to fill in your personal and financial information. You can also apply in store by visiting a local Big Lots store and letting a representative know that you'd like to apply for the card.

A Woman  Using a Credit Card in a Store
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Here are the steps to apply online:

  • Go to the application page on Comenity Capital's website or click the "Learn More" button on sites like WalletHub.
  • Read over the terms and conditions of the card to make sure you understand how it works before you apply.
  • Fill in the requested personal information such as your name, address, phone number, SSN or ITIN, and date of birth.
  • Fill in the requested financial information such as your income, sources of income, employment status, and housing status.
  • Authorize Comenity Capital to do a hard pull of your credit report, which will help them evaluate if you're qualified to get the card.
  • Double check to make sure the application is complete and all the information is accurate.
  • Submit the application.

Once you've submitted your application, you may receive a decision right away. If approved, you'll get your new card in the mail within 7-10 business days.

Who Should Get?

If you shop at Big Lots regularly, the Big Lots Credit Card might be worth considering. The card's special financing plans can be helpful for repaying large purchases over several months, but be sure to pay off your balance before the promotional period ends to avoid a 35.99% Variable APR.

You'll need to shop at Big Lots frequently to make the most of this card. The $0 annual fee is a decent perk, but it's not the only consideration.

The card's special financing plans may not be the best choice for everyone. A more general cash-back credit card could be a better option, especially if you're looking for a 0% introductory APR for a set period of time.

You might want to consider a cash-back credit card with a lengthy 0% introductory APR. This can be a better option for financing large purchases than the special financing offered by the Big Lots Credit Card.

Comparison and Evaluation

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Big Lots charge card offers a range of benefits, but it's essential to evaluate its pros and cons.

The rewards program is quite generous, offering 5% cashback on purchases made at Big Lots stores, which is a significant advantage for frequent shoppers.

However, the cashback rewards are only redeemable in the form of store credit, not actual cash.

The interest rate on the Big Lots charge card can be relatively high, ranging from 24.99% to 29.99% APR, which can lead to significant interest charges if not paid off in full each month.

Overall, the Big Lots charge card is a good option for those who frequently shop at Big Lots and can pay off their balance in full each month.

Competitors

The Big Lots card may seem like a great option, but it's not the only game in town. Many cards not only compete with the Big Lots card but surpass it in every way.

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If you want a card with a better earnings structure, the Citi Double Cash Card is an excellent choice. You'll earn 2% cash back on every purchase with no limits, no bonus categories to keep track of.

The Chase Sapphire Preferred Card is another contender that offers great redemption options. You'll get access to Chase's 14 transfer partners, allowing you to get up to 2.05 cents per point in value.

For financing a large purchase, the Wells Fargo Reflect Card offers a 21-month 0% introductory annual percentage rate. This is much longer than the Big Lots card offers, giving you more time to pay off your balance.

Here are some key competitors to the Big Lots card:

Is it Worth It?

The Comenity Big Lots credit card might not be the best choice for everyone. Unless you're a die-hard Big Lots fan, the card's rewards program is not worth the hassle.

The deferred interest financing program can be tempting, but it's not the only option. There are better ways to finance expensive purchases at Big Lots.

If you want to earn rewards at Big Lots, you're better off with a general card like the Citi Double Cash or the Chase Sapphire Preferred. They offer more flexibility and benefits.

Bottom Line

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I rarely recommend store cards, and the Big Lots credit card is no exception. It's not a good choice for most people.

The Big Lots credit card has few perks, which means you'll likely get better rewards and benefits from a different credit card.

The Points Guy credit ranges are derived from FICO Score 8, which is just one of many different types of credit scores.

Frequently Asked Questions

Who issues the Big Lots credit card?

The Big Lots credit card is issued by Comenity Capital Bank, a reputable financial institution. Learn more about the benefits and features of the Big Lots credit card.

How do I pay on my Big Lots credit card?

To pay your Big Lots credit card bill, you can visit comenity.net/biglots, call 888-566-4353, or mail a payment with a check, money order, or cashier's check in U.S. dollars. Note: a fee may apply for phone payments.

What credit score is needed for Big Lots credit card?

To be approved for the Big Lots Credit Card, you'll need a minimum credit score of 640. This is a standard requirement for many store credit cards.

Can I use my Big Lots credit card at Walmart?

No, the Big Lots credit card is a closed-loop card and can only be used at Big Lots retail locations and online, not at other retailers like Walmart

Tasha Kautzer

Senior Writer

Tasha Kautzer is a versatile and accomplished writer with a diverse portfolio of articles. With a keen eye for detail and a passion for storytelling, she has successfully covered a wide range of topics, from the lives of notable individuals to the achievements of esteemed institutions. Her work spans the globe, delving into the realms of Norwegian billionaires, the Royal Norwegian Naval Academy, and the experiences of Norwegian emigrants to the United States.

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