Meijer Credit Card Review: Pro’s & Con’s

Introduction to the Meijer Credit Card

Meijer credit card is marketed as one of the best, convenient and most effective way to save money on gas plus other purchases while at the same time earning you money for college tuition and local charities. Meijer Company has been quoted saying that their credit card holders stand a chance of being considered in a lot of promotion that is not open to other Meijer clients.

Meijer Company has two types of credit cards available to their customers namely: The Meijer Credit Card and The Meijer Master Card. The store also offers a Platinum Master Card which comes with various annual percentage rate offers depending on the credit history of the cardholder. It also gives point issued due to accumulative purchases. These points are referred to as Meijer Bucks with every 2,000 points earned, the cardholder receives $10 that can be used at any Meijer store for purchase of goods.

Benefits of Meijer Credit Card

The following are the major advantages enjoyed by Meijer Card Holders for the year 2019

New cardholders get to save 10% for their first grocery and clothing shopping, and other merchandise shopping but with some limitations

  • For every $750 spent, you will earn rewards worth $10
  • The card does not have an annual fee

Every cardholder has the power to designate any local agency, either charity, churches or schools, to take part in the annual Meijer rewards program. Each nominated agency will receive 1% of the total purchase price each time the Meijer credit card is used.

Cardholders together with their close relatives receive 5% of the purchase price of a selection of products that are directly deposited into a savings account meant for college expenses and tuition.

Cardholders also get the option of paying their bills at any of Meijer’s stores. Through mail or online.

If an individual would like instant credit, they can apply for their credit card in store. Of course, there are several restrictions involved.

This may not look like a very overwhelming list of benefits but if you a regular customer of the Meijer, having a card will prove to be an excellent choice.

The Standard APR for Meijer Credit Card

As much as the cardholders enjoy a free annual fee benefit while using this card, there is a standard APR of 25.49% as of 2018 May. There are no balance transfers but are available on Meijer master card which comes with a balance transfer fee of 3% of the minimum balance or a general $5, which is actually far much higher. However, the fee can never exceed $75.

Store credit cards are generally known for having higher interest rates than ordinary reward credit cards.

This is the reason why most people opt to have other normal reward credit cards and cash back credit. General cashback gives you an opportunity to earn a point after purchase, no matter the store.

Reasons why you should consider applying for a Meijer Card

Meijer stores are known for the sale of a variety of products all at a very reasonable price. This is why most people who live in areas where there is a Meijer store nearby would consider applying for their Credit Card. This can be especially beneficial to them if they are frequent customers to the stores. Below are some of the other reasons why getting a Meijer credit card would be a good idea.

  • Convenience

It is general knowledge that credit cards are a more convenient and safe way to make a payment than cash. This is especially true whenever someone intends on making a big purchase, multiple times. Carrying cash for these situations is not only a big hassle, but it is also very risky and insecure.

  • Security

In recent years, there have been some major concerns linked with credit card fraud. These are very normal and genuine concerns and should be addressed with the seriousness they deserve. Credit card issuers claim to be aware of such kind of frauds, and this is one of the reasons why credit cards have been hosting a series of security measures meant to limit potential threats and consequences of such occurrences in case they cannot be avoided.

  • Credit Building

Just like it is in any other type of credit card, having a Meijer credit card will influence every other thing from your purchase history and points utilization. This is important in the long run because it will determine how your rewards score will be calculated. To put it in simpler terms, if you are a responsible Meijer cardholder, you can make good use of your interactions with your credit card to increase your chances of striking a good deal.

  • Choice

Meijer stores offer two cards options for their customers. One of these cards can only be used in their stores, nowhere else. On the other hand, the other Meijer credit card (MasterCard) can be used at other selected stores. This will give Meijer stores customer’s two options to choose from, according to which suits an individual best.

  • No annual fees

As we saw in the benefits of owning a Meijer credit card, none of the Meijer credit cards comes with an annual fee. This is a very helpful aspect as the customers of the stores can choose when to use their point rewards willingly instead of being pressured into using them just to ensure that the annual fees are worthwhile. In addition, lack of an annual fee means that the credit card is even cheaper, a benefit that comes on its own.

  • Rewards

The rewards from the Meijer credit cards are solely meant to incentivize their loyal customers to spend more and get more points. Let me clear it a bit for you. For every $750 worth of purchase made, you will get $10. Although this is not the best reward there is, think of how much money you have spent without getting a cent back. This, plus the fact that none of the Meijer cards comes with any particular fee, is reasonable enough under any circumstance.

  • Exclusive Savings

It is not usual to find a store-issued card that offers special deals on purchases made, which are unavailable through any other method. The Meijer credit card is no different, therefore cardholder will be advised to keep a keen eye out for deals.

The Downsides

1.    High-Interest Rates

Although the Meijer credit card offers you a number of discount opportunities, it is also very notorious for charging high-interest rates. Compared to the interest rates on a traditional credit card, the interest rates on the Meijer credit card is extremely high.

2.    They can Injure your Credit Score

Applying or getting a store credit card can surprisingly cause your credit score to drop drastically. If your credit is not very good, you might want to wait for a while to improve your score before applying for more debt.

3.    Way less beneficial than traditional credit cards

Meijer credit card just liked any other store credit card, has a very low credit limit. This means that debt accumulation is a very possible likelihood with this card. However, if you make good use of your available credit, then your debt to credit ration will increase significantly.

Bottom Line

As much as getting a Meijer credit card may look like a very promising opportunity, always think about your financial goals and the effect this card will have on your ability to meet those goals. Meijer credit cards may not come with all the promising offers there is out there. However, getting one is nonetheless something. The fact that these cards offer a 10% discount on the very first purchase made through them should be a pretty convincing factor for their loyal customers to get one.

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