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Why a Kohls Credit Card is a Great Way to Save Money

Kohls is one of the most popular retail stores in the country. Designed around the concept that consumers can find anything that they want at prices they can afford, the store is a huge success in a time when bargains and sales are more popular than ever. These stores are popping up in strip malls all over the country, and the anticipation residents feel when one is opening up in their area is significant. The store features everything from name brand clothing, celebrity-designed lines that are created exclusively for the store, shoes, apparel, accessories, toys and home décor for every room in the house. It’s a one-stop shop for all your needs – except groceries. That’s what makes this store so successful and so popular.

One of the other reasons that people love Kohls so much is the fact that the store offers its own credit card. Those who shop here frequently line up to apply for this card because it gives them the opportunity to earn points and rewards with each of their Kohls’ purchases. The card has many great benefits and rewards, which we will discuss later. The card is issued by Capital One Bank, and the standard terms and conditions are issued by Capital One Bank as well.

Applying for a Kohl’s Card

The application process for a Kohls card is very simple. You can apply online or in the store, and both are simple processes. Both applications require that you submit the same information, you simply do it in a different form. Applications for the credit card can be found in any Kohls department store. All you have to do is ask an associate for one and they are happy to oblige. Once you have the application in hand, you can fill it out while you are in the store or you can fill it out at home. The application for the Kohls credit card can be presented to a customer service agent in the store for approval or mailed to the address listed on the application. If you prefer to apply online at home, you can do that as well. Be warned, however, that Kohls credit cards require great credit and you will be declined for a card if your credit is not up to par.

To apply online you will simply visit the Kohls website and click on the link for the credit card application. This is when you will be asked to present some very specific information:

  • Your name
  • Address
  • Phone number
  • Social Security Number
  • Email address
  • Place of Employment
  • Number of years at place of employment (and past employment if you have been at your job less than two years)
  • Your income
  • Your housing expenses

You may or may not be asked to provide a little additional information. It’s then necessary that you go back and make sure all the information you input is correct. Even one minor error could result in a declined application that may affect your credit score. With that in mind, you should also know that applying for the card will ding your credit score and drop your score anywhere from 3 to 5 points. This happens anytime you apply for credit. Doing this is going to have an effect on your financial situation, so it’s a good idea not to apply for the card if you do not plan on using it and only want to get the introductory percentage rate off the items you are purchasing at this moment in time.

Now that you’ve checked to see that your information is correct you will want to read the terms and conditions provided to customers by Kohls. Do not simply skim through this information. This information tells you all you need to know about your card, including your interest rate, what happens if you make late payments, if you miss a payment and what to do if you have issues with the card. This information is imperative reading. If at the time you finish reading the information you do not agree to the terms, exit the application. If you do agree with the terms, go ahead and click the link that says you agree and submit your application.

Once submitted, your application should take only a minute or so to process. Once this happens you will see the results of your application. You will either receive a congratulations page that tells you some of the information about your new card, including the fact that it will be mailed to you ASAP or a decline notice. This notice might tell you that the company will contact you at a later time with a decision as more time is needed to process your information. Otherwise, you will receive a flat-out denial that will result in a letter of explanation within 30 days of your application that details why you were declined for a Kohls card.

Kohls Charge Card Benefits

One of the primary reasons shoppers choose to sign up for a Kohls charge account is so that they can save when they make their first purchase. It’s just one of the examples of the kinds of rewards you can take advantage of when you make the decision to apply for a Kohls charge card. When you make your first purchase with the card, you get to take 15 percent off your total order. This is the way that the company talks customers into applying for the card – by promoting the significant savings the card provides.

Another one of the popular benefits of the Kohls charge card is the fact that it can save you a lot of money throughout the year. One way it does this is by giving you the opportunity to save money when you shop every month. There are savings events for cardholders that occur at least once a month. The average savings during this event is approximately 15 to 30 percent.

The other benefit that cardholders receive comes after you spend $600 at Kohls in a calendar year. You will then get the opportunity to upgrade to the MVC club, which is the Kohls Most Valued Customer club. You get 18 opportunities to shop and save throughout the year instead of just one. It’s a great opportunity for frequent shoppers to take advantage of when it’s time to shop.

Many people don’t see this as a benefit, but some do; the card is only available for use at Kohls. This charge account is not something you can use anywhere, which is great for your credit. The fewer places you can use your card, the more money you will save throughout the year. Additionally, the online payment system and account system is very easy to navigate. Cardholders can pay their bill through the mail, online, over the phone or with any customer service representative at any checkout register at a Kohls store. This makes it nearly impossible to forget to make a payment or even make a payment late.

Kohls Card Reviews

Most of the reviews about the Kohls charge account are good. There are some bad reviews about the card, but mostly from users that seem to fall into a common category. Since we like to save the best for last, we will discuss what people have to say about the Kohls charge in a negative light. The first thing is that the company will report you to the major credit bureaus if you make even one late payment. What customers say is that if their payment is even one day late, the credit bureaus are notified and their credit score takes a big hit. It’s not ideal, but as long as you don’t make a late payment you needn’t worry about this. The fine print on the account mentions that this will occur.

Customer service representatives are not helpful is another one of the most common complaints. Many of the complaints listed about this charge account state that customer service representatives at Kohls are not very friendly and that they refuse to make adjustments to accounts when payments are made late. For example, many users report that they paid a day or two late and asked that their late fee was reversed because they never received their statement, and customer service representatives were not willing to reverse the charges. Additionally, some customers stated that when they called the company to explain that they could not make their payment for an extra day until they were paid, the company would not waive their late fee or make any adjustments for the customer.

The other most common complaint is that there is no recurring payment system, which many people feel is the company’s way of eliciting late fees from customers as a way of making more money. Some people state that their online statement never comes to their inbox and their paper statement never comes to their mailbox and they always forget to make their payment as a result.

Other customers find it irritating that their Kohls card cannot be paid each month using a different credit card. Some people like to use their other credit cards to pay their bills each  month to amass other rewards for travel or even cash back, and it’s a little annoying to those customers that they can’t pay off their Kohls account with a credit card and use it to earn points, and then pay off that balance each month. This is something many other store credit cards allow, so users get to double up on their point savings without actually spending more money during the month. It’s a great way to double up on points, but it’s simply not allowed with the Kohls card system.

On the other hand, most users say this is a great card. The interest rate is high, but if you pay off your card in full each month that makes no difference. With a standard 21.99 to 24.99 percent interest rate, it is much higher than most other store credit cards. However, a frequent pay-off each month will result in not interest charges so the rate doesn’t make a difference to users.

Other cardholders state that the card is great. It’s easy to use, and it’s easy to pay. Most people love the concept that they can go right into the store when they’re shopping and pay their bill while shopping. They also love that the card has an easy-to-use online payment system that makes it simple to get their bills paid when they are not out and about.

Other customers love the fact that they can use their credit card discounts in conjunction with their Kohls cash, which is a great way to save even more. There are no rules associated with using card points and rewards at the same time as Kohls cash, so the savings are significant. Additionally, Capital One issues credit line increases on a regular basis for customers that do a good job paying their bill in full each month, paying on time and being a good customer.

Payments are posted immediately, which means there is no waiting time to see if your credit line reflects the payment. This is something else that customers love about the Kohls charge account. When you make a payment, it is credited to your Kohls account right away. This means that you don’t have to worry about the payment not posting in time for your due date, or having to wait to have more credit on your card so that you can make a bigger purchase. The payment is issued immediately upon receipt, whether you pay by debit card online or by check in the store or through the mail.

All in all, the card that Kohls issues is one that people seem to like. Those who don’t like it are the ones that are forgetting payments, missing late payments and not taking the time to note their due date each month on a calendar that will remind them to make the payment on time when it is due.

10 FAQs about the Kohl's Credit Card

1. Can I increase my credit limit?

The Kohl's credit card has a lower credit limit than regular credit cards, but you can increase your limit which is usually determined by your creditworthiness based on credit scores and income. If you want to raise the credit limit, you should log into your account, click "account summary" then click "request credit line increase." However, you should note that you can only increase your credit limit once every three months.

2. How much is the late payment fee?

Kohl's credit card charges a late payment fee of $25, but it can go up to $38. Since the credit card does not have a grace period, you should make sure that you pay before the due date indicated on your statement to avoid a late fee charge.

3. How long will the late payment stay on my credit report?

If ever you are late to make a payment, you can be sure that that late payment will remain in your credit report for seven years from the date you were reported to the credit bureau. Such an entry can hurt any financial plans you may have since lenders may refuse to grant you a loan based on the poor credit rating.

4. Can I remove the late payment entry on my credit report?

Seeing that a late payment will remain on your report for seven years, it would be in your best interest to get rid of it before then. Therefore you should write a "Goodwill Forgiveness Letter" to Kohl's explaining why you were late, be apologetic, state that you will never do so again and ask that they remove the late payment entry from your credit report out of goodwill. However, you should only be a "one-time offender" otherwise chances of being forgiven for multiple late payments are slim if not zero.

5. How does the Yes2You rewards program work?

You will first have to enroll by signing into your account, or if you do not have an account, you can create one on Kohl's website. Once you register, you will earn a point for every dollar you spend throughout the year then on the first of each month, for every 100 points you have won, you get a $5 reward. If you shared on your birthday when signing up, you get a special birthday gift.

6. Do my rewards expire?

You have to redeem your rewards within 30 days since they expire approximately 30 days after they are issued. You can redeem them on anything you please whether online, on Kohl's app or in store. If you convert some of your rewards into cash, the leftovers will remain in your account and expire after one year from date of issue. Also, if your rewards account is inactive for 12 months, your balance will be reset to zero automatically.

7. Can I use my Rewards Cash after they expire?

If for some reason you were unable to take advantage of the rewards given and redeem them for whatever purchases you want, Kohl's offers a 10-day grace period for Kohl's Cash. However you can only use it in store. However, some shoppers claim they were not able to use theirs. Therefore, the best thing is to use the rewards within the given time frame.

8. How do I report my stolen card?

If you have lost your credit card or it is stolen, you can report it by contacting the Kohl's customer service department at (855) 564-5748. The center is open from Monday to Saturday from 7am to 10pm and on Sunday from 9am to 10 pm, central time. The customer representative will close your account and issue you with a new one.

9. How long will a refund take to reflect in my account?

If you would like to return any merchandise purchased using your credit card from Kohl's store, you can do so by mail or to any Kohl's store. However, the refund will take seven days at most to reflect in your account, depending on the bank's processing time.

10. Can I make all returns by mail?

Unfortunately, if you purchased your items in a store, then you cannot make your return via mail. Instead, you should return them to the customer service desk at any Kohl's store.

Garrett Parker

Written by Garrett Parker

Garrett by trade is a personal finance freelance writer and journalist. With over 10 years experience he's covered businesses, CEOs, and investments. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.

Read more posts by Garrett Parker

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