Review: Stein Mart Credit Card

stein-mart-credit-cardDiscount clothing retailer Stein Mart, in partnership with Synchrony Bank (formerly GE Capital Retail Bank), offers a credit card that allows you to take advantage of multiple discounts exclusive to cardholders. But watch out for that interest rate! Our overview /review of the Stein Mart credit card is below:

The first thing to know about the Stein Mart credit card is that there are actually two Stein Mart credit cards:

  • The Stein Mart MasterCard is accepted at Stein Mart and anywhere else MasterCard is accepted.
  • The Stein Mart store credit card is accepted only at Stein Mart.

In our eyes the Stein Mart MasterCard is better because you can use it almost anywhere, but that’s really the only difference between the two cards, so you don’t miss out on rewards or anything else with the store-only card. And, frankly, it doesn’t matter which is better, because you are going to get whichever one they give you. That’s right. The way this works is that when you apply, you are first considered for the MasterCard, but if your credit is not good enough, you’ll get the Stein Mart store-only card. (Or no credit card at all if your credit is really bad.)

So, all that said, what is good about the Stein Mart credit card? Well, Stein Mart promises:

  • At least 10 opportunities per year to get 10% off a day’s Stein Mart purchases.
  • 10% off your very first purchase with the card
  • A birthday month discount, plus other cardholder savings opportunities throughout the year.

if you are a regular Stein Mart customer, it is easy to see the appeal here. There is only one red flag that we would like to alert you about: the interest rate on this card is 26.24%, which is just ridiculously high. If you ever carry a balance on your credit cards, this is NOT a card you want to be adding to your wallet.

But, if you always pay your balance in full each month, the perks are worth it. You can apply online via this online application.

See also: Instant Approval Credit Cards, Which is the best credit card?, Stein Mart Credit Card Payment, Login, and Customer Service Information