Review: Car-X Credit Card

car-x-credit-cardCar-X auto repair facilities offer a credit card that you can use at Car-X and any other shop within the CarCareOne network of dealers & repair shops. An explanation of what that means, along with our review / overview of the card, is below…

The Car-X credit card allows you to pay for repairs and auto parts at any Car-X store. In addition to the standard card terms and interest rates, you can usually get special financing on larger purchases. Generally this takes the form of a 0% interest offer for a certain period of time. For example, you might be offered a 0% rate for 6 months on purchases of over $250. (This is just an example; you could be offered different terms.)

Note, however, that the terms of these 0% offers usually state that you must pay off the full balance within the designated promotional 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 think is a bit sneaky.

And we should talk about the interest rate on the Car-X credit card if you do end up paying it — 29.99%!!

So, if you use this card and don’t pay it off, you will, over time, pay essentially 30% extra per year on any purchases you’ve made. 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 you.

While this card has the Car-X logo on the front, it 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 Car-X credit card could potentially be used at many other car dealerships or repair/ parts stores in your area and outside your area.

We would suggest you only apply for the Car-X credit card if a Car-X location gives you a special 0% offer that you know you will pay off in time, but there is an online application if you want to understand all the details.