Repairing your credit is something that can take years to do, so having a credit card that will actually help you through that process and still have significant advantages while using it makes your life that much easier. The Menards credit card is exactly that – and more. If you have heard any criticisms about the card they are likely from people who have been rejected, which are in the minority. Read on to see the list of benefits.
1. It’s a no-nonsense card.
People who have below average credit cards are often offered advantages such as cash advances and the ability to use the card while traveling internationally. Most people with solid credit don’t travel internationally. With the Menards card you get a card to be used for buying the necessities at any Menards store and you can fill up your gas tank at any Kwik-Trip and several other regionally served gas station brands. Those home improvement projects don’t have to wait until your credit score opens the door for a bank loan.
2. No annual fee.
Credit cards that have an annual fee are usually debt traps waiting to snap your wallet closed so they have access to your hard earned money, not you. When you think of paying an annual fee of $100 that ends up with you paying $8 a month just for having the card, even if you don’t use it. If you max out your credit limit, it is still like paying $8 a month except you can’t use the card.
3. At any Menards store you can buy gift cards.
This may seem like a small advantage – except when you need to buy a last minute gift for a birthday or special occasion and are strapped for cash. Since the Menards card does not allow cash advances, the Menards gift card is the next best thing to solve those last minute or unexpected giving events.
4. A deferred interest payment plan.
Their terms are no interest is charged to your account if the purchase amount is paid in full within 6 months on purchases of a minimum of $299. But you don’t have to buy a single item worth $299 or higher; you can buy a number of items that totals $299 or higher.
5. Variable Intro APR.
Unlike so many credit cards that target people with below average credit ratings, the Menards card rewards people who have worked to get to the point where they deserve better terms on a new credit card. The purchase intro APR is variable, between 0% - 3.99%. They also have a variable time frame for how long you will get that APR: between 6 and 48 months.
6. Rebate receipts.
When you use your Menards card at a Kwik Trip or other authorized brand gas station, you get a 1% rebate. But instead of an immediate credit you get a rebate receipt. You can mail these in and Menards will send you a check back. The best way to use these rebate receipts is to collect them for a month or so, then mail them in for a larger check. It’s always nice to get a check in the mail, and oftentimes the money comes in just at the right time.
7. You can use it like a bank loan.
While you can’t get cash advances from the card, you can still use it like a bank loan for larger home improvement projects. Other credit cards will give you the promotional rate, then hit you later with a huge interest rate charge. This is often missed by cardholders because you notice your monthly payment has gone up but can’t figure out why. By then it is too late. Because of the way Menards has set up their promotional interest rates, you can buy what you need and have the same interest rate for the duration of the loan.
8. Great customer service.
One of the most common things you will find on reviews of the Menards card is their great customer service. Some people overlook this feature of a credit card – until they run into a problem. All you have to do to look at why customer service is a critical part of a business is to look at why Amazon.com is so popular.
9. A $10 cash bonus after you make your first charge of $100.
When was the last time anyone gave you a 10% cash bonus just for using the card? That is what Menards does by putting a $10 bill in your hand after your first purchase. If you found a $10 bill on the sidewalk, would you pick it up?
10. Cashback rewards.
You earn between 1 and 2 percent cashback on your purchases (gas purchases are 1%) which means if you use your card wisely it can reap you significant benefits over the year. Many of the competitor’s cards don’t even give you a 1% reward.
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Written by Garrett Parker
Read more posts by Garrett Parker