Want to apply for Kmart credit card? Before you proceed with the application, here’s the truth about the Kmart credit card.

Company History
This company was founded in Detroit by Sebastian Kresge in 1899 and later changed its name to Kmart in 1962. Today they are the 3rd biggest discount retailer in the world. They may not get as much press coverage as Wal-Mart or Target, but the truth of the matter is that Kmart gives them a run for their money with extremely competitive prices. In addition, they also have a number of brands which can’t be found elsewhere. Today their current stores consist of Kmart, Big Kmart, Kmart Super Center, and Super Kmart.

Kmart Credit Card Review
If you’re having difficulty finding information about Kmart credit cards, you aren’t alone. Why? Because after Kmart acquired Sears in 2005, they switched over to the Sears credit card. So there’s no longer a credit card just for Kmart. However the Sears card can be used at both stores. In addition to their regular store card, there is also a MasterCard version which can be used anywhere MasterCard is accepted.

Now let’s take a look at what these Sears / Kmart credit cards do and do not offer…

APR
If you’re someone that doesn’t pay the balance in full every billing cycle, then the Sears / Kmart credit card may be a dangerous proposition for you. While doing this credit card review I was startled to see the store card had an APR of 20.40%. I think mostly everyone would agree that this is a very high rate!

They also tout “special financing offers” throughout the year, but from what I can tell these “special offers” also involve sky high rates.

Points
The regular Sears / Kmart credit card does not offer any type of rewards program. The MasterCard version does; it gives you 1 Sears Choice Reward point per dollar spent on eligible purchases. Nowadays, the 1 point per dollar is common, so that’s nothing extraordinary.

Benefits
For the most part the benefits on this Sears / Kmart credit card appear to be pretty typical. The one exception is they give free monthly access to your credit score. This is a good benefit for the right person. But if you already have average credit or above, many financial experts advise against opening department store credit cards unless you can’t qualify for anything better. So it’s probably only a good idea for those with sub-par credit.

Conclusion
Kmart is a great discount retailer. The Sears / Kmart credit card seems to be best suited for those with poor credit. Unfortunately, their site says you can only apply for the MasterCard version in-store (not online).

Get a 5% Rebate At Every Department Store! (sponsored)
How would you like to get up to a 5% cashback bonus at every department store, including Sears? Then check out the no annual fee Discover More