If you’re already a regular shopper with JCPenney, you’ve probably been asked at the checkout if you’d like to apply for their JCPenney Rewards Credit Card before. We admit it seems like a pretty good deal with its extra discounts, rewards points, and special financing offers. But is it actually worth signing up for? And are there drawbacks you need to be aware of?
In this guide, we'll take you through all the perks and features of the store-only JCPenney Rewards Credit Card and the Mastercard. Have a read and discover which one best suits your wallet and your shopping habits.
Synchrony Bank issues the JCPenney Rewards Credit Card, and it comes in two forms to suit your shopping style:
The biggest bonus is that there's no annual fee for either card, so straight away you're avoiding extra costs. When you first open your account, you'll get a special promotional discount that ranges from 5% to 35% off your first purchase. However, the exact amount depends on what you're buying. For example, you might get 35% off fine jewelry or 25% off if you're paying for salon services.
You'll need a fair credit score (around 640 or higher) to qualify for either. We recommend checking if you prequalify online before you apply, as this won't affect your credit score, which is a smart move before applying.
Once you have the card, you can start earning rewards points:
Keep in mind that you can earn a maximum of 2,000 points per transaction. Points convert at a rate of 200 points = $10 in JCPenney CashPass Rewards, which equals about 5% back on JCPenney purchases.
So, if you spend $100 at JCPenney, you'll get 150 points. And when you hit 200 points, you'll get a $10 reward. It's pretty straightforward, but it'll only pay off if you shop there often enough to build up your rewards quickly.
One of the biggest drawcards to any credit card is the potential rewards it offers the cardholder. Here’s what to expect when you get your hands on a JCPenney Credit Card to see if it’s a good fit for you.
Ready to sign up and make your first purchase? You could get a one-time discount ranging from 5% to 35%, depending on the item category. Here's some examples:
Sure, this is a nice introductory perk, especially if you're planning a big purchase. But remember, it's a one-time offer. After that, you'll need to rely on the regular reward structure and occasional promotions to get more bang for your buck.
When you shop with the JCPenney card, you earn rewards 50% faster than standard JCPenney Rewards members. So, you'll get more CashPass points in your account faster. You'll also get a $10 CashPass Reward for your birthday, so don't forget to enter your birthdate in your rewards profile.
The card also gets you access to exclusive bonus events, with things like extra points days and extra discounts. But, since the CashPass rewards expire 45 days after issue and your points expire 12 months after you earn them, you need to get in quick and use them before they're gone.
Planning a large purchase? The JCPenney card might help with financing major items like furniture and appliances. You can choose from these two offers:
However, this is a tricky option, and you need to be careful. If you happen to slip up and not pay in full by the deadline, you could face a whopping 34.99% APR. You'll wipe out any rewards you've earned and get a huge bill.
The JCPenney Rewards Credit Card has some great benefits if you're a frequent shopper. But, there's also some downsides to weigh up before signing up:
If you typically carry a balance or want to earn rewards that you can use beyond a single store, you are better off with a general cash back credit card. Shop around and compare the options. These days, there are lots of cards that offer 1.5% to 2% back on all purchases, and they also come with a stack of welcome bonuses and flexible rewards.
Drawbacks aside, there are plenty of reasons why the JCPenney Rewards Credit Card should be in your wallet. Ready to see if you qualify? Here's how you can apply:
Prequalification is a great way to test the waters without making a mark on your credit score. Once approved, you can start using your JCPenney discount right away when you shop online or in-store.
The JCPenney Rewards Credit Card is worth considering if you’re a loyal JCPenney shopper. And it's even better if you're someone who pays off balances in full and wants to save on purchases and rack up store rewards. However, for shoppers who tend to carry balances or rarely shop at JCPenney, there might be better options.
Choosing a card with more flexible rewards, like a general cash back credit card, could be more your style. When your credit card suits your shopping and financial habits, you'll be able to use it much more responsibly and reap all the rewards.