The Big Lots Credit Card is helpful if you regularly want to finance large purchases from Big Lots stores. It offers significant flexibility in repayment terms, with the the option to take 6 or 12 months to pay for a purchase with no interest.

The downsides of the card, though, likely outweigh its usefulness. As a store card, it only works at Big Lots stores. You can’t use it elsewhere. Additionally, it offers deferred financing, which can come back to bite you if you don’t repay in full by the end of the 0% interest period. If you’re in the market for a new credit card, you’re likely better off using the CardCruncher tool to find a card with the best rewards for you, and maybe even a 0% interest card. Otherwise, read on for the full details on the Big Lots Credit Card.

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
  • $30
  • The 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.

Big Lots Credit Card Alternatives

Before applying for the Big Lots Credit Card, consider these alternatives.

Chase Freedom Unlimited

If you want to finance a large purchase, consider applying for the Chase Freedom Unlimited Credit Card. This card offers a useful APR of 0% for 15 months, then 16.74 - 25.49% Variable. You can use the card anywhere that accepts Visa, and also know that you won’t have to pay interest for a while, even on small purchases. It earns 1.5% cash back per dollar on every purchase, too, so you’ll be rewarded for all your spending, too.

Chase Freedom

If you want a credit card that offers cash-back rewards instead of financing deals, consider the Chase Freedom Card. It offers 1% cash back on most purchases, but 5% cash back on purchases in a categories that rotate each quarter. If you usually spend a lot of money at a retailer that falls into the bonus category, you can rack up a lot of rewards quickly.

Big Lots Credit Card FAQs

Here are some other things that you should know about the Big Lots Credit Card.

What bank offers the Big Lots Credit Card?

The Big Lots Credit Card is offered by Comenity Capital Bank. Comenity Capital Bank is behind a number of store cards on the market.

How does the Big Lots Credit Card work?

The Big Lots Credit Card works just like other credit cards, but it only works at Big Lots stores. You use the card to pay for your purchases and will receive a bill for those purchases at the end of the month. When you receive the bill, you must make monthly payments until you pay for your purchase, plus any interest charges.

Bottom Line: Should You Apply for the Big Lots Credit Card?

The Big Lots Credit Card is a good choice for frequent Big Lots shoppers who want the flexibility to pay for their purchases over time. If you can handle the deferred-interest financing deals properly, you can save a lot of money and gain the flexibility on paying your credit card bill. Most people, however, will be better off with a cash-back card that works anywhere and earns rewards of some kind. Try the CardCruncher tool to find the right card for you.

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