Q: Hey are you familiar with the Modell’s sporting goods credit card? The guy at the store told me it would be good to get because I buy a lot. I can’t find the application or info on the rewards?
A: I called up Modells to get to the bottom of this. It took several calls (customer service, credit card dept, then calling a store) but I think I was able to get to the bottom of this for you. Here are the things you need to know about their card.
How do you apply?
Like me, you probably scoured Modells.com only to come up empty handed. The reason for this is because you can’t apply for the Modells credit card online. That’s according to the website’s customer service and the store I called (ironically the actual credit card department couldn’t answer the question, his accent was so think and it seems he could barely understand English).
What are the rewards?
The Modell’s MVP Platinum MasterCard earns points at their stores and elsewhere. This is how the system works:
- Purchases at Modell’s: 1 point per $1 spent
- Purchases everywhere else: 1 point per $5 spent
Since every 400 points nets a $20 rewards certificate, it works out to be 5% rebate at Modells and a 1% rebate on all other spending (anywhere MasterCard is accepted).
Now here’s the kicker… you get the same rewards at Modells stores with their MVP Rewards Program (not a credit card). That means the only extra points this credit card is earning you are the 1% elsewhere. But since just about every card gives 1% these days that is not exactly thrilling, is it?
What about the financing?
The card’s issued by GE Money and I was able to hunt down their Terms & Conditions for it here: https://www.gecrbterms.com/gecrbterms/pdf/ModellsCreditCard.pdf (note: PDF document)
As of January 2013 there is a crazy 26.99% interest rate! Be wary of the “no interest if paid in full” promos which are sometimes offered on big ticket purchases. Why? Because they require payment in full before the time is up to avoid interest. If you don’t do that then you get the interest charges retroactively.
Should you apply or not?
The Modells credit card is not giving you extra rewards at their store, so there’s no reason to get it for that purpose. You might as well just stick to the non-credit card version of the MVP rewards program.
As far as spending elsewhere, it’s only 1%. That is just average. So if you were to apply for the Modells MasterCard that is basically what you are getting.
If you have good credit then you can do much better with these credit cards for cash rebates.