Review: The Container Store Credit Card

The Container Store, in partnership with Synchrony Bank, issues a credit card that allows you to finance your purchases at a 0% rate. But watch that fine print! Our complete overview/review of the Container Store credit card is below:

The first thing to know about this card is that it is only accepted at The Container Store, nowhere else. This limited acceptance is a strike against it; opening new credit lines can hurt your credit, especially if you have a poor credit history. You should think hard about opening any new credit line, but especially for a credit card that can not be used widely.

That said, the obvious reason you would want to get The Container Store’s credit card is that it gives you 0% financing on larger purchases. You get:

  • For purchases of $500 or more, you get the “No Interest If Paid In Full Within 12 Months*’ offer.
  • For purchases of $3000 or more, you get the “No Interest For 24 Months*” offer.

These offers are very different. In most cases you aren’t going to be spending over $3000 on your Container Store purchases, so you’d likely take advantage of the 0% offer for 12 months. The thing to understand here is that you must pay off every penny of that purchase within the 12 months or you will get charged ALL of the interest that would’ve accrued since the day you made the purchase — as if the 0% offer had never existed! And the interest rate you’ll pay? 29.99%!!! You need to be very careful with this offer.

The second offer on purchases over $3000 is more forgiving. With that offer, you make equal monthly payments each month for 24 months until the purchase is paid off. You don’t have the option to extend your payments beyond that; you must make the payments in the same way that you would for any installment loan such as a car loan or mortgage. This is a more reasonable and less sneaky way to handle no-interest offers.

Other than the 0% offers, however, there is no reason to ever use The Container Store’s credit card. There is no rewards program and the 29.99% interest rate is simply terrible.

Overall we can’t recommend this card but we understand why you might use it to spread out payments on a larger purchase. Just be careful!

There is no reason to apply for the Container Store credit card online; instead, wait until you are actually ready to make a large purchase and use the 0% promotion. However, you can see more information and a link to the card application here.