The JCPenney Credit card basic

The JCPenney credit card is an in-store credit card only. Thus, the JCPenney credit card can only be used at JCPenney stores or locations. In general, the credit card is like any other credit card available on the market. This means that a person can buy merchandise from a JCPenney store and pay for the items over time or in full when the bill comes due. Thus, the consumer can use this credit card like similar credit cards, with the main restriction being its limitation to use at JCPenney.

For consumers who utilize JCPenney’s regularly this credit card could offer some benefits. However, if a person infrequently visits JCPenney’s they may choose to use other credit cards for purchases. It should be pointed out that there is no downside to holding a JCPenney’s credit card. Thus, even if the consumer does nothing with it for extended period of time or years there is no annual fee, so there is no cost to have a JCPenney credit card when there is no balance on the account.

As will be discussed in the benefit section the card in general does offer some benefits to the cardholder. Among the primary benefits is that the card does offer some discounts on purchases, which may be as high as 15% off the purchase price. Additionally, the company does offer some general purpose sales or discounts to benefit the holder at certain times of the year. Thus, the cardholder may receive special benefits on specific purchases. All of these benefits and rewards will be discussed in detail in the next section.

To qualify for a JCPenney credit card you will have to meet the standard set by the issuing bank, which are quite similar to other bank requirements. Thus, expect that you have to have certain credit score as well as a specified amount of income. Additionally, the card is subject to CARD regulations of the federal government, which is discussed in the last section of this report.

Rewards and benefits

The primary benefit or reward for a consumer holding a JCPenney credit card is that they may receive certain discounts on purchases at a JCPenney affiliated store. To be clear the JCPenney credit card may only be used at JCPenney locations or affiliates. Therefore, while the card is a credit card it only serves this function with in-store purchases or online purchases at JCPenney’s. The primary reward or benefit of a JCPenney credit card is that offers up to 15% off the purchase prices of products at JCPenney’s. However, this percentage rate is decreased to 10% for larger purchases such as furniture, jewelry, watches, or other expensive products. Additionally, the percentage rate of discounts bought at a store may vary with time of year or other items. The company does offer from time to time special discounts on items purchased with a JCPenney credit card. Thus, it might be beneficial for a person to utilize this credit card if they know they will receive an added bonus or discount.

With the exception of the sales discount or special pricing of items, which are purchased with a JCPenney credit card, the company does not offer any other rewards or benefits. Thus, if a consumer utilizes a JCPenney credit card expecting a discount or other benefit, they may want to consider other personal credit cards, which may have better benefits to the cardholder.

Fees and rates

Like any credit card the JCPenney credit card does have certain interest rates and fees, which must be paid in a timely manner. The APR is standard for all credit cards offered on the JCPenney line and the current rate is 26.99% APR. The company does not specify if there is a late fee or other special payment fees associated with this credit card. However, since it is a typical credit card, it is subject to the CARD regulations of the federal government. Thus, any and all fees must be disclosed to the consumer before the card is issued. CARD is the governing rules applied by the federal government to all credit card companies, since this card is issued by a bank they are subject to these laws. One nice aspect of the JCPenney credit card is that it is a non-annual fee credit card. Thus, the holder of the credit card can go for a sustained period of time without using the credit card and not be penalized for low or no use on the credit card. Since the card is a standard in-store credit card, the JCPenney credit line available to the consumer may be limited. However, this is rather normal for any store issued credit card and may be of benefit to some consumers who are looking to build