Big Lots Get Highest APR Credit Card Award With 29.99%

Store cards come with highers interest rate and fees, but Big Lots tops them all, a new study finds. With a ridiculous annual percentage rate of 29.99 percent, they take the award of the highest APR on a retail credit card. Big Lots Credit Card Accounts are offered by Comenity Capital Bank and you can apply for the card here, if you’re interested. Its selling points are no annual fee and 24/7 online account management.

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Zales credit card took second place at 29.24 percent, and office supplier Staples rounded up the top three witha  28.24 percent APR on their credit card.

The APR on retail cards has edged higher, reaching an average of 23.84 percent this year, up from 23.43 percent in 2015 and 23.23 percent the prior year. That’s more than eight percentage points higher than the average rate of 15.22 percent on general-purpose credit cards.

Most people that read DDG probably never take a look at the APR on a credit card since you should never carry a balance anyway. But credit card APRs affect a lot of people since “42.1 percent of all card accounts carry a balance” said Matt Schulz,’s senior industry analyst.

Retailers typically entice customers to sign up for their cards with incentives, but usually those incentives are ridiculous and pale in comparison with cards that we suaully talk about here. For example, while half of the cards offered by the 100 largest U.S. retailers offer a sign-up bonus, just 13 exceed $25 for a $200 purchase, found. You must have seen funny credit card offers such as this 2 Liter bottle of soda for a Walmart credit card.

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Lots of these discounts are offered at the counter, while the customer is making a purchase, so they can rush into making a decision, for a discount they can get right away.

This doesn’t mean you should never get a store credit card. If there’s a certain store that you visit often, and their credit card offers a discount, it might make sense to get their card. Target is one example, they have a 5% cash-back program on all purchases and that’s a great discount. Best Buy credit card offers 10% back on your first purchase which could be a decent sign up bonus if you’re purchasing an expensive item. Kohl’s credit card holders also get lots of targeted discount offers. It would still be best to try and avoid a hard pull when getting a store card. DoC has a great article on that topic, which explains the Shopping Cart trick. When I apply for a credit card I try to get at least $400-500 out of a hard pull, and store card will rarely get close to that value.

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