Review: Midas Credit Card

midas-credit-cardMidas auto repair offers a credit card accepted at Midas and any other shop within the CarCareOne network of dealers and repair shops. Below you’ll find an explanation of what exactly that means, along with our review / overview of the card:

The Midas credit card allows you to pay for repairs, mufflers, tires, and other auto parts at any Midas store or online. In addition to the standard card terms and interest rates, you can also get special financing on larger purchases, namely no interest for 6 months on purchases of $199 or more.

Note, however, that the terms of this 0% offer state that you must pay off the COMPLETE balance within that 6-month period. If you don’t, you will be charged ALL of the interest you would’ve paid from the date you actually made the purchase — as if the 0% offer had never existed! And the interest rate you will pay? 29.99%!!! Do NOT take the 0% offer unless you really sure you can pay off every penny within 6 months, or you’ll get socked with plenty of interest charges.

One other note: While the card has the Midas 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 that issues this credit card, and Synchrony allows auto shops nationwide to offer the Car Care One card to their customers. So, anyone that chooses to get a Car Care One card can then use that card anywhere Car Care One cards are accepted. In this case, your Midas credit card could potentially be used at many other car dealerships or repair/parts stores in or out of your area.

There is no point in applying for the Midas credit card until you actually need the no-interest offer it provides, but if for some reason you are looking for the online application, it is here.