Stein Mart Credit Card Review

Posted by CreditCardGuru

Founded by a Russian immigrant named Sam Stein in 1902, today Stein Mart has more than 260 stores spread across 30 states. While they’re best known for things like designer clothing, dresses, handbags and jewelry, they also have their own credit card. But is the Stein Mart credit card also a good deal?

store card solicitationWhat type of credit card is it?

The Stein Mart card is a MasterCard, which can be used for purchases at their stores as well as anywhere MasterCard is accepted.

Is there an annual fee?

No, the card doesn’t have a fee.

What’s the APR?

The Stein Mart website didn’t have this information listed, but I called customer service to find out. At the time of this credit card review, they told me the APR was the prime rate + 22.74% (currently that’s a painful 25.99%). This is an extremely high interest rate, especially considering that in the “best” case scenario, you are still paying a staggering 20 percent!

What are the rewards?

Their credit card rewards program is as follows:

  • 2 point per dollar spent at Stein Mart stores
  • 1 point per dollar spent elsewhere
  • $10 Stein Mart certificate issued for every 1,000 points. So that means the card gives 2% at Stein Mart and 1% on all other purchases.

These rewards are definitely below average. Most store-affiliated cards typically give a 3% to 5% rebate for spending at their stores. Only getting 2% at Stein Mart and 1% everywhere else is far from impressive.

Are there any other benefits?

Other than the first purchase bonus (which is typical with just about every department store credit card) the website lists no added benefits for the card when I viewed it. This was a big letdown, considering that the rewards program is already sub-par to begin with.

How can you apply?

The Stein Mart credit card application isn’t available online. Rather, their website says “To apply, just ask any store associate.”

Is there a better way to save at Stein Mart?

Yes, their “Preferred Customer” program is card but not a credit card that can save money. Benefits include special sales and birthday discounts. Considering that the Stein Mart credit card gives such lousy rewards, you might as well just stick with the “Preferred Customer” program instead.

If you’re looking for a credit card that can save you money on clothes, then I highly recommend you check out this card which offers high cash back on eligible categories.

Or if you want high cash back on all purchases, check out this card:
This post was written or last updated November 17, 2013


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Editorial Disclosure: The editorial content on this page is not provided by any bank, credit card issuer, airline or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

8 comments... read them below or add your own

  1. jules September 20, 2014 at 12:55PM

    stein mart customer service sucks,,and because of tghat i will never shop there again,,i dont care how many sales or deals they have,,,,,

    • mary September 20, 2014 at 12:56PM

      i fully agree

  2. Kathleen S. November 14, 2013 at 3:01PM

    I applied for a Stein Mart credit card and was immediately accepted. My credit limit was $800.00. I charged a little over $200. I accidentally missed ONE payment due to the fact that I did not get my statement until a week late. I was, according to the Post Office, lost in the mail. Anyway, I sent in the payment, immediately. Guess what? My credit limit was reduced to $250. Even though I had made ALL PAYMENTS BUT ONE ON TIME. Stein Mart does not care about customer loyalty.

  3. ohiokaz October 28, 2013 at 10:37AM

    Just noticed that my SteinMart card expires October 2013 and I have not received a new replacement yet. I was going to go to the store in Beachwood, Ohio but what an embarressment it would of been for me to find out my account was closed at checkout. Called Customer Service and was told my account was closed due to in-activity. WHAT?? Just because I have not used it doesn’t mean you should close it without letting me know I would of gone and used it instead of now you dinging my credit report. The representative told me it was in the terms and conditions but be a famous phrase you say with everybody and I said I just read the major stuff and do not remember seeing account will be cancelled if not used in a specified amount of time. I will never shop at SteinMart again and have also informed my friends that also shop there as to what happened and they will not get my business anymore.

  4. Marlynn O’Keefe August 2, 2013 at 7:48AM

    I have lost my stein mart credit card. Do not know number. I get emails notifying payment is due then they ask for number. I DO NOT HAVE IT.

  5. marionbowie June 25, 2013 at 1:04PM

    I am totally confused–when I paid my first bill on May 31st.==I signed up for automatic bill pay and there was a charge for it.===plus—I am going to be charged 5.99 per month to use that service.==now I found out that the bill can be paid free on the phone–and==also online======why all the confusion??? marion

  6. Swest April 26, 2013 at 4:17PM

    BEWARE!!!! If you are one day late on your payment you will be charged a $25.00 late fee.

    I opened the account and paid in full on my very first bill, but my payment posted 1 day after the due date. I called and after I asked to close the account, the $25.00 was refunded. More trouble than it’s worth.

    That’s strong and certainly negates any savings I received by opening the account.

    Loyal Stein Mart Customer No More
    #steinmartfail

    • PaysOnTime September 19, 2013 at 5:36PM

      Did you not read the terms and conditions? Its all right there in the print. Also, I noticed your “hash tag” so your obviously “internet savvy”. The idea of paying online and allowing time to post never crossed your mind? I see people slamming card companies and banks a lot. 9 times out of 10 it actually boils down to the consumer not playing by the rules that they agreed to when they opened the account. Sorry to see you blame the business for your own lack of attention to the details.

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