Review: Tire Kingdom Credit Card

tire-kingdom-credit-cardTire and auto maintenance retailer Tire Kingdom, in partnership with Citibank, offers a credit card you can use to defer payments on your purchases, often at a 0% interest rate. But be careful! Our overview / review of the Tire Kingdom credit card is below:

The first thing to know about the Tire Kingdom credit card is that is only accepted at Tire Kingdom and its sister automotive retailers NTB, Merchant’s Tire, and Big O Tires. It is not accepted anywhere else. Here at Credit Card Catalog we are not big fans of cards with such limited acceptance; if you’re going to open a new credit line that is going to lower your credit score (at least over the short term), it is better to get a card that can be used widely.

That said, it is understandable why you would want this card — because it offers interest-free financing on larger purchases. In specific, you can get 0% interest for 6 months on purchases of $199 or more.

However, as appealing as that may sound, you should know that you must pay off your purchases COMPLETELY within that 6-month period to get the 0% rate. If you don’t pay in full on time, you will get charged ALL of the interest that would’ve accrued from the date of purchase — as if the 0% offer had never existed.

And the interest rate you’ll pay? 29.49%!! You do not want to end up paying almost 30% extra on your purchases, so only take this offer if you are sure you can pay it off in full and on time.

There is really no reason to get the Tire Kingdom credit card until you actually have a big purchase to make, but if you want apply anyway, there is an online application here.