Big Lots Credit Card: Limited Features & Dangerous Financing Plans

Big Lots is one of the biggest competitors of Walmart, Target, and Costco. And like the said stores, it offers all kinds of products from consumables and furniture to toys, housewares, and gifts. However, its real magnet attracting a consistent flow of customers is the prices of the closeout items it sells. With this, it is almost impossible not to find something in the store that will interest you. The thing is, you might end up paying for a big purchase during checkout. If that seems to be a problem for you, the Big Lots credit card can help.

Big Lots Credit Card

Big Lots Credit Card

Intro Bonus: Welcome Coupon

Regular APR: 29.99% (Variable)

Credit Score: Good to Excellent

Annual Fee: $0


  • Big Lots allow in-store account lookup to complete your purchase, should you forget to bring your Big Lots credit card.
  • Credit card account summary information is available at the store’s register, allowing cardholders to check the amount of their available credit.
  • The card has no annual fee.
  • Cardholders can get Special Member offers.
  • The special financing lets cardholders pay for the purchase for 6 or 12 months without interest (if the promotional balance is paid in full within the promotional period).
  • The card’s variable APR is 29.99%.

Big Lots Credit Card Review:

For regular Big Lots shoppers, purchasing products from the store even without the Big Lots credit card is already beneficial. Through its free loyalty program called Big Rewards, members can receive perks and benefits such as frequent 20% off coupons, free item weekends, Big Bucks coupons, 10% off for Military/Vets, a Birthday Surprise, and many other exclusive offers throughout the year. Just by signing up, you can also get a $5 Reward after 3 eligible purchases and a $10 bonus for every $200 spent on furniture. With all of these fantastic things the regular Big Rewards Card can do, you might think a Big Lots credit card is almost unnecessary. However, this closed-loop CC can excel in specific situations.

Unlike other store cards in the market, the Big Lots credit card is not designed to help shoppers earn rewards. It doesn’t have its own separate rewards program, nor will it boost your perks in the Big Rewards loyalty program. Nonetheless, the card charges a $0 annual fee and comes with a welcome coupon upon approval of the account. It also gives shoppers the option for flexible financing, and this is where its true purpose begins.

Big Lots Credit Card Special Financing Plans

Special Financing Plans of Big Lots Credit Card

With lots of enticing products at Big Lots stores, you could always end up paying for big purchases at its store counters. A Big Lots credit card can help you with that. Basically, it offers 2 options for special financing of products depending on the purchase amount. You can either have 6 months for purchases of $250+ or 12 months for purchases of $750+. You won’t be charged for interest in these plans if the promotional balance is paid in full before any promotional period (6 or 12 months) ends.

The said promotional plans are a good option if you don’t have the fund for the purchase. You can use your credit, and it will give you a long time to pay off the card’s balance. However, cardholders must realize that these special financing plans are deferred financing. They are different from the 0% intro APR of other credit cards. This means that if you fail to completely pay the whole promotional plan balance within the promotional period, you’ll face interest charges. The problem is that it can be hefty, as the card’s variable purchase APR comes at a whopping 29.99%. Add to that is the late payment penalty fee that can cost up to $40.

That being said, while users are just required of a minimum payment in their promotional plan, it is safer to pay more than the indicated minimum. This should help you make sure you can pay off your whole balance before the end of the 6- or 12-month period and evade possible interest charges.

Final Thoughts

Is the Big Lots credit card worth it? We always say that a store credit card is something you should just get IF you are a frequent shopper at the store that offers it AND if it will help you earn from the store’s rewards program. In the case of the Big Lots credit card, it won’t give you additional perks in the Big Rewards loyalty program. All it offers is the deferred financing of 6 or 12 months, which can even expose you to the risk of interest charges with just one wrong move. And to make it worse, the 29.99% variable APR of the card is higher than average. That being said, having the Big Lots credit card can be more of a danger than a handy shopping tool.

So, should you give up finding a reliable card? Not really. There are more well-designed cards you can opt for, such as those offering lengthy intro APR periods. Some of them even apply this offer both on purchases and balance transfers, and they can last up to 21 months! Most of all, you can earn bonuses and points that you can redeem for a wide range of rewards. Some issuers that provide these incredible features in their cards are Wells Fargo, Citi, Capital One, Bank of America, Discover, Amex, and Chase.