Especially when their items go on clearance – then it’s SHOPPING TIME! Who’s with me?
So when this Elder Beerman credit card hit the market, of course I had to do a review on it!
Department store credit cards are often a mixed bag: They provide shopping rewards, but they also tend to come with high interest rates.
The Elder Beerman credit card is no exception.
Cardholders can earn points to earn shopping sprees at Elder Beerman and affiliated department stores.
But they’ll be saddled with a high interest rate while doing so.
The Elder Beerman credit card shopping-spree points system might be fun for shoppers.
Who wouldn’t enjoy a discounted shopping spree at a fully stocked department store?
But the high interest rates, for even those cardholders with the best credit scores, siphon away a lot of that joy.
Consumers can only use the Elder Beerman credit card at Elder Beerman or affiliated department stores across the country.
These affiliated stores include Carson Pirie Scott, Herberger’s, Younkers, Boston Store, Bon-Ton and Parisian department stores. Cardholders will earn bonus points every time they charge an item on their card.
Consumers can’t apply for this card online. They will, instead, have to sign up for the card at participating department stores.
Pros
Cons
Cardholders earn one point for every dollar they charge at Elder Beerman or affiliated department stores.
Every time cardholders earn 500 of these points, they’ll earn a one-day shopping spree pass that allows them to buy most items at their local store at discounts of 20 percent.
The Elder Beerman credit card comes in four levels: Classic, Signature, Signature Select and Elite, with each offering a minor variation on this shopping-spree-style rewards system.
Depending on the card level, consumers will also receive from one to three coupons every year that cardholders can redeem for free shipping.
Most department store credit cards come with high interest rates.
The Elder Beerman credit card is no exception. The information on the Elder Beerman Web site is sketchy when it comes to fees and terms. The “rules and terms” page, in fact, provides no information on late fees, returned-payment fees or cash-advance fees.
However, cardholders should expect to pay interest rates in the 20-percent range, even if they have good credit. Consumers with lower credit scores should expect to pay even more.
Have you decided to get the Elder Beerman credit card? If not, check out some of these credit cards instead:
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