Big Lots Credit Card Highlights

Here are the highlights of the Big Lots Credit Card:

Annual Fee: $0

APR: 29.99%

Sign-Up Bonus: $0

Big Lots Credit Card Benefits:

6-month deferred interest plan for purchases of $250 or more

12-month deferred interest plan for purchases of $750 or more

In-store card lookup so you don’t need to bring your card to shop

Special cardmember offers

Big Lots Credit Card Minimum Payment:

The minimum payment will be the greater of:
Your statement balance
$30The sum of all regular revolving credit plan minimum payments

Regular revolving credit plan minimum payments are the greater of:
$5
3.5% of the new balance, rounded up to the nearest dollar

Big Lots Credit Card Fees:
Up to $38 for late payments
Up to $38 for returned payments

Why Apply for the Big Lots Credit Card

There are a few reasons that you should consider applying for the Big Lots Credit Card.

Save money on interest

Usually, financing a large purchase with a credit card is a bad idea unless you pay in full before your payment due date. The interest rates on most cards are high, making them an expensive way to borrow money.

With the Big Lots Credit Card, you get 6 months to pay off purchases of $250 or more without paying interest, and 12 months to pay off purchases of $750 without paying interest. While many cards offer a 0% APR period as a sign-up bonus, this card offers it with every large purchase for as long as you have the card.

Exclusive savings opportunities

The Big Lots Credit Card offers exclusive opportunities to save on purchases from Big Lots stores. These can be exclusive coupons for discounts on certain products, cardholder-only sales, or other discounts that can help you get the things you need at a lower price.

Big Lots Credit Card: Drawbacks and Downsides

There are definite drawbacks to consider before applying for the Big Lots Credit Card.

Can only be used at Big Lots stores

Many store cards are tied to their associated store and don’t work anywhere else. The Big Lots Credit Card is one such card. If you want to use a credit card to pay for products from other retailers, you’ll need a different card. If you don’t want to juggle credit cards, carrying one that works only at a single store can get annoying.

Deferred interest plans can be dangerous

The Big Lots Credit Card offers deferred interest promotions for large purchases. While these promotions can help you save money on interest charges, they can also be dangerous. If you don’t pay your bill in full before the promotional period ends, you’ll be billed for all of the interest that would have accrued since your original purchase date. That means you could wind up with unexpected charges totaling hundreds of dollars, just for taking an extra month or two to pay for your purchases.