Staples Credit Card Review

staples center

Well someone has to pay for this $375M building. Maybe that’s why their credit card has such crazy interest rates? 😉

I’m always at Staples to buy office supplies for one thing or another (because I run my own business). Since I shop there so frequently, I decided to take a look at the Staples credit card application. Here’s what you need to know about it…

There are actually three different cards:

Staples Personal Card

  • For individuals
  • Can only be used for shopping at Staples (either in store, through their catalog, or online)
  • Orders come with free delivery
  • Has a very high interest rate at the time of this credit card review – 27.99%

Staples Business Card

  • For businesses
  • Can only be used for purchases from Staples
  • Offers more detailed billing than the personal Staples credit card. It shows what was purchased and where it was purchased.
  • Ability to add authorized users/secondary credit cards to the account
  • Orders come with free delivery
  • At the time of writing the APR is a couple points less than the personal card but still very high – 23.99%

Staples Commercial Billing Card

  • This Staples credit card is geared towards towards big businesses, schools and organizations, etc.
  • Can only be used for purchases from Staples
  • Invoice billing shows what was purchased and where. It’s possible to apply payments to specific invoices and not others
  • Purchase order tracking is offered for those that need it
  • Operates on net payment terms where the full (net) is due 20 days after statement closing
  • Has the same APR as the Staples business credit card, which is 23.99% at time of writing

Are there rewards? None of these cards have their own rewards program. Rather, the regular Staples Rewards program is used in conjunction with the credit card (but you don’t need a credit card to participate in that Staples Rewards program). Should you apply? For a large organization (i.e. college that buys school office supplies) the Staples card is probably the way to go since it offers commercial billing features. For individuals and small businesses, their credit cards just don’t make sense. For starters, the APR and payment terms aren’t attractive. Secondly, the benefit of free shipping is unnecessary, since as long as I can remember Staples constantly advertises free shipping on orders of $50 anyway. The itemized billing is helpful, but most business credit cards will at the very least categorize the type of expense it is. How to maximize your rewards at Staples? If your company doesn’t need the commercial billing, you should consider taking this approach because it can save you more money:

  1. Get a business card (not the Staples credit card, but a card from a major issuer) that offers higher rewards at office supply stores.
  2. For purchases at Staples, use this non-Staples card for your purchases, in conjunction with the Staples Rewards program. That way you will not only be reaping the benefits of Staples Rewards, but also the extra cash back your business credit card gives you on office supplies.
  3. A major business credit card gives you the flexibility to buy from Staples as well as anywhere else. That way you can buy from whoever has the cheapest prices – whether its Staples, Office Depot, Amazon, etc. This saves you even more money. Depending on what you’re buying, Staples is not always the best for discount office supplies.

 
Comments
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I was going to purchase an HP computer at Staples, value almost $500.00, and was told to fill out a credit card application in order to get extended billing. I did and answer was it will take two weeks to review it. I in turn will take their ad to Walmart Store and get computer there as they will honor my credit card with 18 months extended billing.