What You Need to Know about The Trek Credit Card

Credit Card

The marketplace is overflowing with a variety of credit card offers geared towards niche target groups. It seems that there is a perfect credit card for consumers from every walk of life. Trek is a credit card that was designed with bicycling enthusiasts in mind, hence the name Trek. If you’ve not yet heard about this financial tool and you’re into cycling, here is everything you need to know about the Trek Credit Card.

What is the Trek Credit Card?

The Trek Credit Card is a card that offers a variety of special financing options for bicycle enthusiasts and others. If you’ve had your eye on a new specialty bike but you’re not yet prepared to lay out the cash, the Trek Card offers solutions for financing the bike of your dreams and more. The card is recognized by over 1,000 Trek retailers throughout the nation, according to the Trek Store. This is a store card that allows you to finance the purchase of bicycles, equipment, clothing, accessories, and anything else that is sold through Trek retailers.

What are the benefits of a Trek Card?

According to the Trek community website, the Trek Credit Card offers the benefits of a credit card at Trek Bikes with no annual fees. The initial APR on the card is just 9.99 percent for the first 24, 36, 48, or 60 months, depending on the promotional package you are accepted for. The rate goes up to a variable APR of 26.99 percent after the initial promotion expires.

Special purchase deals

Trek also offers special financing deals. If your purchases total $201 or more you may qualify for 6-month financing. If they are $420 or more, you may qualify for 12-month financing deals. You are required to make minimum monthly payments on a convenient schedule. The larger your purchase, the longer you have to extend the financing period.

Overview of the Trek credit card

Next Level Finance explains that the Trek credit card is a lifestyle card that is good at Trek retailers and local retailers that are licensed to sell Trek products. It’s a store credit card that does not offer any rewards. It’s not useful for building points towards a goal, but it does offer a zero percent introductory rate for the first 12 months. There are very few store credit cards that offer this kind of savings. The greatest benefit of the Trek credit card is that it allows you to purchase Trek products on credit. If you pay the charges off while the introductory zero interest rate is still in effect, you save a ton of money on interest charges and this is likely to be more beneficial than a rewards program that requires copious amounts of high-interest spending.

Do you need good credit to obtain a Trek credit card?

The Trek card is backed by Comenity bank. They set the credit requirements for approval of financing. You don’t need stellar credit to qualify for a Trek card, but your credit score must be at least in the “fair” range” which means it must be 640 or better. Higher credit scores may help you to qualify for higher maximum amounts on the credit card. Another benefit of the Trek card is that cardholders with marginally fair credit scores can use the card to build up their credit scores. This requires making all payments on time. The bank reports to the major credit reporting agencies so a solid payment history is likely to boost your credit rating.

Review of the Trek Credit Card

Wallet Hub delivers a reliable assessment of the merit of the Trek Credit Card. They summarize the benefits of the card along with its shortcomings. They conclude that the Trek card is best suited for consumers who are interested in purchasing bicycles and accessories from Trek stores. It’s the most useful for those who seek to build their credit rating. Cardholders with the ability to pay off the charges within the first 12 months of financing reap the most benefits because of the zero percent interest charge during this introductory period. The lack of a rewards program is compensated by the zero-interest introductory offer. Some cards offer many more benefits, but few that allow interest-free financing for a full year. This card is also for consumers who have a credit rating that is just “fair.” Those with higher scores may want to consider a card that offers more in the way of rewards and benefits.

How long is the approval process

You may apply for the Trek Credit Card online. You must provide standard information on a secure website, including your name, social security number, and a few other personal details. If everything checks out instantly, you can hear in just a few seconds through the online format. Some applicants have experienced a wait time of up to five business days to receive their responses. Sometimes additional information is requested by the decision-makers to confirm identity or proof of income.

Final thoughts

The Trek Credit Card is a useful way to help build a low credit score, but it’s also a great way to save money on financing bicycles and associated gear and accessories. There are no special rewards associated with this card, other than a full year of interest-free payments. Although it’s not a card that is particularly useful after the introductory period, it’s one that is good to use in the short-term. The interest rates after the initial promotion rise to a fairly high rate that is not difficult for other cards to beat, even with marginally good credit. Bicycle enthusiasts who can’t wait to get their hands on their dream bikes can have their wishes fulfilled through the Trek credit card, and they may also enjoy a boost to their credit scores at the same time.

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