Meijer Credit Card Review exposes the fine print

Meijer Credit Card Review: Ridiculous Interest Rates?

The Meijer® Credit Card is marketed as a convenient way to save money on Meijer gas and other purchases as well as earning money for local charities and college tuition. The company claims that cardholders can receive many “special promotions” not available to other Meijer customers.

Meijer has two credit cards available, the Meijer® Credit Card and the Meijer® Mastercard®.

However, it is important to balance the convenience of a store specific credit card against higher than normal interest rates and consumer complaints about customer service.

While we understand why some will find the Meijer® Credit Card useful, we feel there’s better credit cards out there.

Before You Get Started: If you’re looking for a great rewards credit card, we highly recommend checking out our list of the best credit cards instead.

Meijer® Credit Card Benefits

Let’s take a look at the “benefits” associated with the Meijer® Credit Card for May 2018:

  • New cardholders can save 10 percent on their first purchase of groceries clothing or general merchandise (with some restrictions).
  • Earn $10 reward for every $750 you spend
  • No Annual Fee
  • All cardholders save 10 cents per gallon of Meijer gas by using the card.
  • Each cardholder can designate a local agency (schools, churches or charity) for the Meijer Community Rewards program. Each agency will receive one percent of the purchase price each time the Meijer credit card is used.
  • Cardholders and their children can receive up to five percent of the purchase price of certain products deposited into a UPromise savings account to be used toward college tuition and expenses.
  • Cardholders may pay their bill at any Meijer store, online or by mail.
  • New cardholders may apply in store for instant credit. (Certain restrictions apply.)

Not exactly an overwhelming list of benefits. So think of our use of scare quotes to actually be irony quotes.

Important Note: Meijer also offers a Platinum MasterCard, which offers a variable annual percentage rate depending on the cardholder’s credit history. It also issues “Meijer Bucks” based on points earned for accumulated purchases. Earn 2,000 in points and receive $10 in Meijer Bucks that can be used toward most purchases at the store.

And Now The Fine Print…

The grace period is 25 days if there is no previous balance or if full payment is made. Otherwise there is no grace period.

Payment is due by 5 p.m. on the day payment due date.

Finance charges will be added on the transaction date or on the first day of the billing period in which the purchase is posted to the account, whichever is later. The minimum finance charge is $1.50. The annual percentage rate is equal to the prime rate plus 15.20 percent.

At this writing, the annual percentage rate for purchases is 23.45 percent.

Late payment fees range from $15 for balances less than $100; $29 for balances from $100 to $999.99 and $35 for balances of $1,000 or more.

Customer Service:

Many consumer complaint sites report poor customer service with the Meijer® Credit Card . Promotional offers promised but never received, difficulty in resolving issues etc. Although Meijer’s Community Rewards programs allowed Meijer customers to designate more than one charity, the program now allows only one per cardholder. This can be problematic for those who wish to donate to more than one agency (i.e., their child’s school and their church.)

Is This The Right Card For Me? Instead, you can view our list of the best credit cards available here . You will end up much happier with one of these recommended cards.

Meijer® Credit Card Standard APR

Although there is no annual fee for this card, the standard APR is 25.49% as of May 2018

Balance transfers are not available. However they are available on the Meijer® MasterCard®, which has a balance transfer fee of 3 percent of the balance or $5, which ever is greater, but no more than $75.

Store credit cards in general have higher interest rates than general rewards credit cards.

This is why many people try to avoid store credit cards (including the Meijer Card) and opt for a general cash back credit card instead. A general cash back rewards card will allow you to earn rewards on all of your purchases, regardless of the store.

If you are looking to do a balance transfer, you will be much better served with a card like Discover it.

Credit Shout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt.