Shoppers can find almost anything at Menards, from power tools to jewelry, but the Menards credit card is decidedly less impressive.
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The official name of the store card for the home improvement retailer Menards is Menards BIG Card, but that name is more a reflection of the store’s physical size rather than a sign of the card’s quality.
Nothing about the Menards BIG Card is large except for the card’s interest rate — one thing that cardholders would hope to be as small as possible. The sign-up bonus is minuscule, the rewards rates are restricted to select merchants and the financing options come with conditions.
The Menards card is a “closed-loop” card, meaning it can only be used to shop with the store brand or related brands. It has a $0 annual fee, but just because youre not paying to carry the card doesnt mean you cant get more value from another card. Higher-value cards can be found on our list of best credit cards for home improvement and new homeowners.
You can pay for big purchases with a Menards credit card and get rewards for shopping at Menards stores. But it’s important to know what credit score you need before you apply. This article will tell you everything you need to know about the credit score you need to get a Menards credit card.
Overview of the Menards Credit Card
The Menards credit card is a store-branded credit card that can only be used at Menards locations and select partner gas stations. It offers the following key benefits:
- 11.9% – 27.9% variable APR
- No annual fee
- $10 in rebates on your first $100 purchase within the first 30 days
- 2% rebate on Menards purchases
- 1% rebate at select partner gas stations
- Special financing offers
Capital One gave the card out, and it works with the Mastercard network. Applications are subject to credit approval.
What is the Minimum Credit Score for the Menards Card?
The minimum credit score to qualify for a Menards credit card is 640, according to credit experts. This means you’ll need fair credit or better to have the best approval odds.
Here’s a breakdown of the recommended credit scores
- Excellent credit (750+): Best approval chances and lowest rates
- Good credit (670-749): High approval odds and competitive rates
- Fair credit (640-669): Decent approval chances but higher rates
- Poor/bad credit (639 or below): Very unlikely to be approved
Even though 640 is the minimum score, getting a higher score in the good to excellent range will improve your chances of being approved and get you better terms.
Factors Beyond Your Credit Score
It’s important to note that your credit score isn’t the only factor considered for the Menards credit card. Here are some other aspects that can impact approval:
- Income – Higher incomes improve approval chances
- Existing debt – Lower debt-to-income ratios help
- Credit history length – Longer histories are better
- Recent credit inquiries – Too many can hurt approval odds
- Number of open accounts – Having fewer open accounts helps
This means that even if your credit score is a bit below 640, you may still qualify by excelling in some of these other areas. On the other hand, a high score doesn’t guarantee approval if you have other red flags on your credit report.
Tips to Improve Your Chances
If your score is on the lower end, below 670, here are some tips to boost your approval odds before applying:
- Pay down balances on credit cards and loans to lower your utilization ratio
- Avoid applying for new credit ahead of your Menards application
- Check your credit reports for errors and dispute any inaccuracies
- Become an authorized user on someone else’s credit card to build history
- Wait until positive information updates your credit reports
It takes time to raise your score and get bad things taken off your report. You will have the best chance of getting the Menards card if you wait and use credit wisely.
Pre-Qualification Options
Unfortunately, Menards does not offer any pre-qualification or pre-approval options for their credit card. The only way to determine if you’ll be approved is to formally apply.
While there’s no pre-qualifying, you can easily check your credit scores for free on sites like Credit Karma and WalletHub. Monitoring your scores in the months leading up to your application is smart.
Applying for the Menards Credit Card
Ready to take the plunge and apply? You can submit an application in a few ways:
- Online at https://www.menards.com/main/credit/credit-cards/c-5911.htm
- Over the phone by calling 1-800-56-MENARDS
- In person at any Menards store location
You’ll need to provide personal information including your name, address, date of birth, and Social Security number. Approval decisions are made within seconds in most cases.
If approved, you can start using your new Menards credit card right away in stores. You’ll also receive your card in the mail within 7-10 business days.
Other Store Credit Cards to Consider
The Menards card is best suited for frequent Menards shoppers who can maximize the rebates. But it’s not your only option. Here are a few other retailer credit cards to consider:
- Lowe’s Advantage Credit Card – 5% off Lowe’s purchases
- Amazon Prime Rewards Visa – 5% back at Amazon and Whole Foods
- Target REDCard – 5% off Target purchases
- Walmart Credit Card – Earn cashback rewards
Compare features like rewards, APRs, and benefits to find the best fit based on your shopping habits. Having 2-3 open retail cards can help you save on your regular purchases.
Bottom Line
A credit score of at least 640 will give you the best approval chances for the Menards credit card. But excelling across other financial factors can sometimes offset a less-than-perfect score. Monitor your credit, minimize debts, and address any errors early to set yourself up for success. And consider other retail card options too. With the right prep, you can qualify and start enjoying valuable perks on your Menards purchases.
The APR is higher than average
As of February 2024, the APR on the Menards card is 30.24%. That rate, well above the average APR on interest-accruing credit cards, can cause outstanding balances to swell.
Let’s say you chose the special financing option for 6 months on a $1,000 refrigerator purchase but didn’t pay off the appliance in time. NerdWallet’s credit card interest calculator indicates that you’d owe $150 in back interest — or about $25 per month — given a 30.24% interest rate.
To avoid paying the Menards card’s steep interest rate, pay off balances in full if you can.
Special financing comes with a catch
The Menards card also allows cardholders to defer interest on purchases — but the financing offers are mutually exclusive from the rebates. In other words, if you choose to finance a Menards purchase, you can’t receive a rebate from it as well.
Special financing is offered for 6- and 48-month terms. Available for purchases over $299, the 6-month financing doesn’t charge interest during the term. However, if you don’t pay off the entire balance before six months, you’ll owe all of the interest that has accrued since the purchase date.
This caveat is one of the main drawbacks to deferred financing: It’ll only help you if the balance is paid off before the term expires. A credit card with a 0% promotional annual percentage rate is a safer bet. Cards like these waive interest for a set time, say 12 months, but they don’t charge back interest when the promotional period ends.
The 48-month financing option on the Menards card is available for purchases of $1,500 or more. Any balance will be charged the 3.99% interest rate for 48 months; after that, the card’s regular purchase APR applies.
The Bank of America® Customized Cash Rewards credit card, on the other hand, offers this: 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24%-28.24% will apply. And with this card, youll earn 3% cash back in the category of your choice, which specifically includes home improvement stores like Menards, plus an automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
What Credit Card To Get By Credit Score
FAQ
How hard is it to get approved for a Menards Credit Card?
The Menards Credit Card credit score requirement is 640 or better. That means that people with good credit or better have a chance of getting the Menards Credit Card.
What credit score do I need to get a Meijer credit card?
Remember that the Meijer Store Card needs fair credit, which means that you need a credit score of 640 to have a good chance of being approved.
What credit card will approve me with a 620 credit score?
When looking at the best credit cards for people with a 600 credit score, we found the Mission Lane Cash Back Visa® Credit Card, which has no annual fee and instant approval. The Capital One Platinum Credit Card is also a no-frills credit-building card that costs nothing.
What bank is Menards Credit Card through?
Menards Capital One Credit Card Login. I have a Capital One online account. I don’t have a Capital One online account.