Kroger Credit Card
Kroger Credit Card is a Store Credit Cards.
Kroger Credit Cards give Kroger, City Market, and QFC regular customers points for every dollar they spend. By registering Kroger cards, any customer in these stores can earn at least one point for every dollar spent anywhere they accept Visa cards. In addition, they get two points for every dollar they spend in the Kroger Family Store and three points for every dollar they spend on General Kroger Brand products. As a joint grocery store card, Kroger card is a store discount card, a reward card, and a VISA credit card. If you are a regular Kroger customer and you are considering registering, please read on to learn more about Kroger what its greatest advantages are, and what alternatives will give you more incentives over time.
Kroger Credit Cards Information You Need To Know
1. For every dollar you spend, you get 1-3 points----All purchased goods get one point per dollar, two points per dollar spent in the Kroger family store and three points per dollar for ordinary Kroger brand products.
2. No annual fee----Never pay an annual fee to earn cash from your grocery expenses, nor doubt whether you should cancel it. If you don't have an annual fee, you can plan to keep the card for a long time.
3. Automated quarterly rewards-----You don't have to worry about cashing your rewards or tracking them. Once you start accumulating points, you will start to receive a quarterly bonus check with no effort.
Should You Apply For Kroger Credit Cards?
First of all, this card allows you to earn an income from 1-3 points for every dollar you spend. Because it's a VISA card, you can use it in millions of retailers around the world. As an additional bonus, Kroger Card does not charge an annual fee.
The fact that this card does not charge an annual fee may be its greatest benefit as a credit card reward. If you don't have any form of cash return and don't want to use a more traditional reward credit card, then if you frequent the Kroger family store, Kroger card is an alternative.
The biggest disadvantage of Kroger is the low redemption value of the points you earn. Although you can get 1-3 points for every dollar you spend, these points are not valuable: 1,000 points will only give you 5 dollars of free food. This is a convertible value of only $0.005 per point - half a cent - much lower than the comparable grocery store reward credit card offered.
If you don't like dealing with complex incentive schemes, Kroger cards can even meet your needs. Once you start earning points, you will get a quarterly check for free food without converting points. Unlike other cards that allow you to easily navigate through basketball or complex reward programs, Kroger cards don't require you to do anything, just use them for regular purchases.
What is a store credit card?
The only difference between store credit cards and regular credit cards is that store credit cards are branded and associated with a specific retailer and its rewards program. Store credit cards offer in-store discounts, allow cardholders to earn and redeem points when making purchases.
There are two basic types of retail store credit card:
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Open-loop cards: These cards with a Visa, MasterCard or American Express logo in the bottom-right, can be used anywhere.
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Closed-loop cards: These cards without a Visa, MasterCard or American Express logo only can be used at their co-branded stores, online stores or affiliates.
For example, there are three types of Best buy credit cards, My Best Buy Credit Card, My Best Buy Visa Platinum Credit Card and My Best Buy Visa Card. My Best Buy Credit Card is a closed-loop card, so you can only use it at Best Buy. My Best Buy Visa Platinum Credit Card and My Best Buy Visa Card are open-loop cards, you can use them anywhere that Visa is accepted.
What are the benefits of store credit cards?
Easy to get and can help you to build credit
Because of store credit cards’ high interest rates and low credit limits, they are easy to get with fair or poor credit. If you can use it responsibly, this is an opportunity to build up your score.
A reasonable annual fee
Many great store rewards cards don’t have an annual fee.
Save money at your favorite stores
Store rewards cards have different rewards programs which are great ways to save money, especially you are a frequent customer of that shop. For example, My Best Buy Credit Card offers as much as 5% cash back.
Additional sign-up bonuses and benefits
Many store reward cards attract new customers with a sign-up bonus. What’s more, some store reward cards offer extra benefits, such as discounts, free shipping, a birthday gift and extended return policies.
Open-loop cards can be used anywhere as normal credit cards.
What are the drawbacks of a store credit card?
Low credit limits
This means that you have the risk of going over your credit limits.
High interest rates
Most store credit cards’ interest rates are higher than the industry average (17%).
Closed-loop cards are limited to single store
Many store credit cards can only be used at their store or online shop. But some store credit cards can be used anywhere like normal credit cards, such as Amazon Prime Rewards Visa Signature Credit Card.
Customer service problems
Some store credit cards are not issued by major cards issuers, so the quality of customer service is difficult to guarantee.
Some store credit cards can’t be used for balance transfers
What do you need to apply for a store credit card?
Credit score
Banks approve much lower credit scores for store cards. Therefore, applying a store card is an ideal way for someone with a fair or poor credit score to rebuild his or her credit.
Credit card application
You can apply for a store credit card online, in-store or by email depending on the card. And you just need to fill in your personal information and submit your application. The credit card issuer will consider your credit reports and several different factors when reviewing your application to get an idea of your creditworthiness.
