Menards Credit Card: 6 Important Things You Need to Know Before Signing Up

If you frequently shop at Menards for your home improvement projects, you might be considering signing up for the Menards Credit Card. It offers special financing options, rebates, and the chance to save on future purchases. However, before you sign up, it’s important to understand how the card works, its rewards program, and some potential drawbacks.

In this article, we’ll break down the 6 key things you need to know about the Menards Big Card, from its financing options to its high APR, and help you decide whether it’s a good fit for your needs. 

1. Menards Offers 3 Credit Card Options

Before diving into the details, it’s important to know that Menards offers three types of credit cards:

• Menards Big Card: This is the card we’ll focus on in this article. It’s perfect for regular Menards shoppers and offers special financing and occasional promotions.
• Menards Contractor Card: Aimed at contractors, this card offers rebates, special financing, and benefits for bulk purchases.
• Menards Commercial Card: This one is for larger businesses and provides tailored financing options and detailed reporting for commercial purchases.

In this article, we’ll be focusing on the Menards Big Card, which is great for people who shop at Menards often and want to take advantage of financing offers and special deals.

2. The Menards Big Card Has a Limited Reward Program

The Menards Big Card rewards you with 2% rebates on eligible Menards purchases. That means for every dollar you spend at Menards, you get 2% back as store credit. This is handy if you’re a regular customer, as you can use the store credit on future purchases.

Additionally, you can earn 1% rebates on gas and select merchandise at participating BIG Network Partners. However, the rebates are issued as store credit, which means they can only be spent at Menards. While this is great for home improvement enthusiasts, it’s a bit limiting compared to other cards that offer cashback or rewards you can use anywhere. 

3. Offers Special Financing Options (But With a Catch!)

The Menards Big Card offers a couple of special financing options, but be cautious about the details:

• 6-Month No-Interest Financing: On purchases of $299 or more, you can qualify for 6-month no-interest financing. However, if you don’t pay off the balance in full by the end of the 6 months, interest will be charged from the purchase date at a Variable Standard APR of 29.24%.
  
• 48-Month Financing: For larger purchases of $1,500 or more, you can choose 48-month financing at a 5.99% APR. But if you don’t pay off the balance according to the agreed terms, the Variable Standard APR of 29.24% kicks in.

These financing options can be helpful if you’re planning a big purchase, but make sure to pay off your balance on time to avoid high interest rates.

4. Slightly Higher APR and Fees Than Usual 

The Menards Big Card has a variable standard APR of 29.24%, which is quite high compared to other cards. Additionally, if you miss a payment, the card could be subject to a penalty APR of 30.24%.

The card does come with $0 annual fees, which is a plus. However, if you miss a payment or make a late payment, be prepared for those higher APRs and potential late payment fees (up to $40). It’s essential to stay on top of payments to avoid these high charges.

5. The Sign-Up Bonus Is Smaller Compared to Competitors  

While the Menards Big Card does come with a sign-up bonus, it’s a bit underwhelming. New cardholders can get a $10 rebate after spending $100 with the Menards card. Compared to other cards that offer larger bonuses, sometimes $100 or more, this bonus is quite small. Still, it’s a nice little perk if you plan to make a purchase at Menards soon after signing up.

6. You Need to Have Fair-Good Credit to Apply

To get approved for the Menards Big Card, you generally need to have fair to good credit; think a credit score around 640+. The approval process is pretty straightforward, and you can apply either online or in-store.

Once you’re approved, you’ll get your card and can start using it for special financing and earning rebates. Just keep in mind that approval isn’t guaranteed, and your credit score plays a big role in whether or not you’ll be approved.

Closing Thoughts: Is the Menards Big Card a Good Option?

The Menards Big Card is a solid choice for those who frequently shop at Menards and want to take advantage of rebates and special financing options. The 2% rebate on Menards purchases and the 1% rebate on gas and select merchandise at BIG Network Partners are helpful if you’re regularly working on home improvement projects.

But the high APR and fees, along with a smaller sign-up bonus compared to other cards, mean it’s not the best fit for everyone. If you’re careful with your payments and primarily shop at Menards, this card can save you money in the long run. However, if you want a more flexible rewards program or a larger sign-up bonus, you might want to look at other credit card options.

Weigh the pros and cons carefully before applying, and if it sounds like a good fit for you, enjoy the savings on your next Menards purchase!

Menards Credit Card FAQs