Review: Fry’s Credit Card

frys-credit-cardFry’s electronics stores, in partnership with First Electronic Bank, offers a credit card that you can use to finance your larger Fry’s purchases, often at a 0% rate — but watch out! Our overview / review of the card is below:

First off, you can only apply for a Fry’s credit card in a Fry’s store; there is no online application. You can also only use it in a Fry’s store. As far as we can tell, you can’t even use it on, so this is a very limited card, something we generally warn against — it’s usually not worth it to open a credit line for a single store chain, especially a card like this that offers no rewards or no good reason to use it in the future.

The only reason you might actually want the Fry’s credit card is that the store may offer you a special 0% financing offer — such as 0% interest for 12 months on certain large purchases. But even that may not be in your best interest, because these offers are “deferred interest”, meaning that if you don’t pay off every cent of your purchase within the promotional period, you will then get hit with all of the interest you would’ve paid from the day you made the purchase — as if the 0% offer had never existed!

And what interest rate will they use to figure what you owe? 27.49%! That’s ridiculously high, and we suggest you don’t even put yourself in the position of having to worry about it. Either use a different card or think twice about making the purchase in the first place. In general, steer clear of the Fry’s credit card.