Review: Pep Boys Credit Card

pep-boys-credit-cardPep Boys auto shops offer a credit card that you can use at Pep Boys and any other shop within the CarCareOne network of dealers and repair shops. An explanation of what that means, along with our review / overview of the card, is below…

The Pep Boys credit card allows you to pay for repairs, tires, and other auto parts at any Pep Boys store or online. In addition to the standard card terms and interest rates, you can also get special financing on larger purchases:

  • Get a 0% rate for 12 months on purchases of $499 or more.

Note, however, that the term of this 0% offers state that you must pay off the full balance within that 12-month period. If you don’t, you’ll suddenly get charged all of the interest you would’ve paid from the date you actually made the purchase — a practice we have always found to be rather sneaky.

Let’s talk about the interest rate on the Pep Boys credit card, because it’s crazy — 29.99%, which we will round up to 30% to make it more understandable. If you use this card and don’t pay it off, you will, over time, pay an extra 30% per year on any purchases you’ve made with it. Our suggestion is you use this card only for special financing offers or if you are in total desperation, because it’s a bad financial decision for sure.

One final note: While the card has the Pep Boys logo on the front, the card is actually part of the Car Care One network. Synchrony Bank (formerly GE Capital Retail Bank) is the bank behind this credit card — they allow auto shops nationwide to offer the Car Care One card to their customers, and anyone that chooses to get a Car Care One card can then use that card anywhere Car Care One cards are accepted. So, your Pep Boys credit card could potentially be used at many other car dealerships or repair/parts stores in your area and outside your area.

You can apply for the Pep Boys credit card in a store or you can apply for the Pep Boys / Car Care One card via this online application at Synchrony Bank.