Review: AAMCO Credit Card

aamco-credit-cardAuto repair chain AAMCO offers a credit card that can help you spread out the cost of your car repairs over time. But it can also add a lot to the cost if you’re not careful. Our overview / review of the AAMCO credit card is below:

The AAMCO credit card is part of the Car Care One network, meaning you can use it to finance parts and repair at AAMCO as well as other automotive care chains within the network. While this sounds good, we are not in favor of opening a credit card strictly for auto repairs. You’d be better off using a different credit card, especially when you consider the interest rate on this one: 29.99%!!!

Now, why would anyone willingly pay almost 30% interest on their car repairs? Well, usually they don’t do it on purpose. Instead, they get offered this card with a special deal — 0% interest for 12 months or 6 months. As long as you pay off the card completely by the time the 12 or 6 months are over, you pay no interest at all. Great, huh? It is great, IF you pay off every penny in that period. But if you don’t pay off every last cent, here’s what happens: you are suddenly charged ALL of the interest that would’ve accrued from the date of your purchase, as if the 0% offer had never existed. And what is that interest rate again? Yes, 29.99%!

So, we really can’t recommend you go anywhere near the AAMCO credit card unless you are offered a 0% rate and you know deep down with 100% surety that you will pay off every penny within that 12 or 6 months.

You can apply for the AAMCO credit card online, but don’t. Instead, if you do want a 0% interest offer, apply at your local AAMCO location.

The AAMCO credit card is issued by Synchrony Bank, formerly known as GE Capital Retail Bank.