Kohl's Credit Card Review
For frequent shoppers, Kohl's offers a charge card with some interesting perks and benefits.
With over 1,000 stores in 49 states, chances are there's a Kohl's department storenear you.
Best known for their clothing, shoes, and accessories, Kohl's prides themselves on helping the whole family find quality items at great discounts. They also sell housewares, jewelry, gifts and more.
If you shop often at Kohl's, you're likely the kind of person who likes to save money, but you don't want to skimp on quality, either.
In this case, owning a Kohl's Charge may be worth it to you.
Here's what we found out about the Kohl's Charge – and what you'll want to know before you sign up.
A Little Background on the Kohl's Charge
Kohl's credit card is officially known as a Kohl's Charge.
As it is a store card, you can only use it at Kohl's department stores.
As of April 2017, the interest rate on the Kohl's Charge is 24.49%, so you'll want to avoid having a balance on this card if you can help it.
It's not the highest interest rate store card on the market, but it is one you'll want to pay off quickly.
What is a Charge Card?
A charge card is a credit card that is used with an account that needs to be paid whenever a statement is issued.
The charge card requires that payment is made in full every month, or else there is a hefty interest rate on the remaining balance.
Is The Kohl's Charge Card the Same as a Pre-Paid Card?
Not exactly. With a pre-paid card, you put a pre-determined balance on the card.
When that balance reaches zero, the pre-paid card must be reloaded in order to continue using it.
A charge card is more like a credit card that needs to be paid in full whenever you receive a statement.
Otherwise, you may incur hefty fees or interest rates.
And unlike a pre-paid credit card which can be used anywhere, a Kohl's Charge can only be used Kohl's department stores.
Who Are the Targeted Customers of the Card? Who Benefits the Most from Having the Kohl's Charge?
Kohl's Charge, like their department store, is geared toward busy families. Anyone who shops often at Kohl's and enjoys deep discounts on their products would benefit the most from having Kohl's charge card.
However, in our detailed review, we uncovered many reasons why you may want to avoid the Kohl's charge card.
Be sure to read this thorough review and guide carefully to make a more informed decision before signing up.
Which Bank Issues the Kohl's Charge?
Capital One is the issuer of Kohl's charge accounts.
What Are the Interest Rates on the Kohl's Charge?
Understanding what you're really paying for is important when deciding whether or not to take on a charge card.
In addition to the costs for the merchandise, you may also incur high interest rates and annual fees if you have a balance.
Kohl's Charge penalty interest rate is currently 27.49% as of April 2017.
It's expected that you'll pay the balance off every month but if you don't, you'll pay this percentage on the remaining balance.
The annual percentage rate (APR) of the Kohl's charge card is 24.49% as of April 2017. There is no annual fee.
What are the Credit Limits on the Kohl's Charge?
The amount of credit you receive on the Kohl's charge card ranges from $200 to $3000 depending upon the credit standing of the cardholder.
Most people, however, tend to have a credit limit of around $1,000.
How Do I Increase the Credit Limit?
If you use your Kohl's charge card often and would like a higher credit limit, you can submit a request for a credit limit increase.
Kohl's made need additional info in order to successfully process your request.
Your credit history is one of many factors in determining your eligibility for a credit line increase.
Kohl's may also obtain information from the credit bureaus in deciding whether or not to increase your credit limit.
Perks of the Kohl's Charge
If you shop often at Kohl's, you'll discover there are a number of perks with owning a Kohl's Charge, such as:
- All Kohl's Charge customers receive additional discounts on sale prices at least 12 times per year
- All Kohl's Charge customers receive advance notice of new Kohl's Charge sales events by mail
- You'll receive an online account which will let you make payments directly online, sign up for paperless e-statements and see your account balance
- Any purchases you make with the Kohl's Charge can be returned without the need for a receipt
- If you spend $600 per year on your Kohl's Charge, you become an MVC – Most Valued Customer. MVCs receive at least six more special offers throughout the year.
Does Kohl's Have a Rewards Program?
Kohl's Rewards program is known as Yes2You Rewards. You earn 1 point for every dollar spent.
With every 100 points you earn, you get a $5 reward.
There are also opportunities to earn bonus points.
Yes2You members get 8 offers a year (which are special offers on top of MVC and Kohl's Charge offers) and a birthday gift.
What is the MVC Program?
The MVC (Most Valued Customer) Program is for Kohl's Charge customers who spend $600 per year or more on their Kohl's Charge.
These customers receive six additional special offers on top of the offers they receive for owning a Kohl's Charge, and on top of the Yes2You rewards if they are also enrolled in the loyalty/rewards program.
Keep in mind that the Koh's Charge and the MVC Program are separate from Yes2You Rewards.
What Promotions Does Kohls Offer?
Kohl's offers a wide range of promotions throughout the years on a variety of items.
Perhaps the two promotions it is most famous for are Kohl's coupons and Kohl's Cash.
Kohl's often sends coupons via mail and email, as well as displaying them prominently on the home page of their website.
Kohl's Cash is one of the promotions that the company is most famous for. For every $50 you spend, you earn $10 in "Kohl's Cash" – if you have the app, your Kohl's Cash is stored in your app, otherwise, the coupon is sent to you via email. You can then show the printed coupon or the image of the coupon in the app in-store, and then enter your coupon and pin online or at checkout during the specified timeframe that the Kohl's Cash is valid for.
The discount will then be applied to your purchase total.
It's worth noting that dollar-off discounts are applied before percent-off discounts.
The Yes2You Rewards program is a customer loyalty program in which enrolled users earn 1 point for every dollar spent.
With every 100 points you earn, you get a $5 bonus. Oftentimes, you can use your Yes2You Rewards in combination with your Kohl's Charge to save even more on purchases.
How Do You Apply for a Kohl's Credit Card?
Applying for Kohl's Charge is easy and free. You can apply online at https://apply.kohls.com or apply in store. You may also enjoy special savings on your first purchase.
About the Application Process
You'll need to enter some basic information into the application, including:
- Your full name
- Address, city, state and zip
- Home phone
- Social security number
- Date of birth
- Annual gross income
- Email address
Your information is then reviewed and your application approved or disqualified. Sometimes, the applications do not process immediately.
In those cases, a more detailed review may be necessary and you'll receive a confirmation on your approval (or disapproval) by mail within 30 days.
Eligibility Criteria and Qualifications
Depending on where you live, there may be additional eligibility requirements and qualifications.
You'll want to read the disclosures at https://apply.kohls.com carefully to determine if these criteria apply to your specific situation.
How to Manage Your Online Account
You can login to your Kohl's Charge account at any time and see your balance as well as sign up for paperless e-statements or make a payment on your balance.
How Long Does it Take to Get Your Kohl's Charge?
Assuming your application is approved, you'll receive a Kohl's Charge Card within a few weeks.
In the meantime, you can still shop with your temporary card. If you're shopping in-store, you can simply let an associate know that you don't yet have your Kohl's Charge card and they will look up your temporary card number at any register.
How Do I Check the Status of My Application?
You may need to call the Kohl's Charge Application Number to check on the status of your application or to complete processing. The number is 1-866-346-4655. You may need to go through an ID verification – which is a set of three questions to verify your identity. Even after you verify the information, your application may not be processed immediately, depending on your specific credit situation. In these cases, you should receive a letter in the mail within 30 days.
Payment Options for Your Kohl's Charge
Kohl's provides a number of ways to pay your Kohl's Charge balance – including by mail and online.
What Are the Minimum Payments?
The minimum payment will depend on your remaining balance. Most cards tend to charge a minimum payment of around 3% of the total balance but generally your payment cannot be less than $10-24. The details will appear on your specific statement.
What Are the Late Payment Repercussions?
If you do not pay your balance in full on your Kohl's Charge, you'll be subject to the penalty APR, which as of April 2017, is 27.49%.
Where Can I Make Payments?
You can make payments online through the Kohl's Charge account dashboard, as well as by mail to the following address (unless you live in AK, AZ, CA, CO, HI, ID, MT, NV, OK, OR, TX, UT, WA or WV):
Kohl's Payment Center
P.O. Box 2983
Milwaukee, WI 53201-2983
Customers who live in the aforementioned states may send their payment to:
Kohl's Processing Center
P.O. Box 30510
Los Angeles, CA 90030-0510
You can also pay by phone through the automated phone system at 1-855-564-5748. There is no charge to pay through the automated phone system. You will need to provide a bank routing and account number. Payments made after 7pm central time will post the following day.
If you'd rather speak to a person, you can call 1-855-564-5748 from 7am-10pm Central Time Monday through Saturday or 9am-10pm Central Time on Sunday. You can issue a payment with a live associate using a debit card. Credit cards are not accepted.
What Should I Know About the Kohl's Charge App?
The Kohl's App doesn't just include the Charge but rather a wide range of services. Through the wallet, you can save and see your balance of Kohl's Cash, Yes2You Rewards, and coupons. You can use the wallet to apply offers when checking out in-store or with the app.
The Kohl's Pay option lets you use your Kohl's Charge without physically having the card with you. Using the app also applies any discounts and coupons you have automatically. The Store Tools option lets you get sales alerts from the store you're visiting as well as check prices and find any additional local discounts.
The Kohl's app can be downloaded for Android, iPad/iPhone and Apple Watch.
Pros of Owning a Kohl's Charge
If you shop often at Kohl's, and want access to special offers and new sales ahead of time, owning a Kohl's charge may be a smart idea. You can also currently save 30% on your first purchase with your Kohl's Charge, as well as an additional 15% discount when you receive your card in the mail.
Owning a Kohl's Charge also entitles you to become a Most Valued Customer if you spend $600 or more which increases the number of discounts you receive per year from 12 to 18. Many customers also like the ability to combine Kohl's Charge discounts with special offers, Kohl's Cash and Yes2You Rewards for even greater savings. There's also no annual fee and the APR is considered average for a store card.
Cons of Owning a Kohl's Charge
There are some drawbacks to owning a Kohl's Charge. For one, you'll want to pay off the balance on the card every month or face stiff penalty fees. Also, you have no real idea what the special offers and savings you get will be – you may find there's a special offer on something you can't even use.
And while you do get special offers, there are no purchase rewards. As store cards go, it's rather tepid after the rush of enthusiasm and discounts from the initial purchase wear off!
What Do Customers say About the Kohl's Charge Card?
It's understandable that many prospective Kohl's Charge users would have questions before they apply. Since Kohl's Customer Service page is rather cumbersome to navigate, we've collected all the most frequent questions and answers for you in one place.
Common Questions About the Kohl's Charge Card
What Can I Use My Kohl's Charge Card For?
You can use your Kohl's Charge to make purchases on items in any Kohl's department store. This includes clothing, accessories, housewares, gifts and more.
Where Can I Use My Kohl's Charge Card?
Because it is a store card, you are limited to only being able to use it at Kohl's stores.
How Long Does it Take for Kohl's to Refund My Credit Card?
If there is a charge from Kohls.com on your credit card that you don't recognize, you'll be reimbursed by the company up to $50.00.
You should also notify your credit card company immediately about the fraudulent charges.
How Do I Check the Balance on My Kohl's Charge?
You can check the balance of your Kohl's Charge at any Kohl's department store, as well as online through the My Kohl's Charge account.
Can I Withdraw Money from My Kohl's Charge? If So, How?
This is known as a cash advance and is commonly available on many credit cards. However, because the Kohl's Charge is a store card, cash advances are not possible.
Can I Pay for My Kohl's Charge with a Different Credit Card? Or Paypal?
Currently, you can only pay on your Kohl's charge with a debit card by speaking to a representative by phone. You can also make payments online in the My Kohl's Charge account for free. Currently, PayPal and the ability to pay on your Kohl's Charge with a different credit card are not supported. You can also use the automated phone system or send payment by mail.
Can I Use My Kohl's Charge Without the Card?
You can use your Kohl's Charge provided you have downloaded and registered it through the Kohl's App.
Can I Add an Authorized User to My Kohl's Charge?
You can add or remove an authorized user from a Kohl's Charge account by calling customer service at 1-855-564-5748.
You should have the person's name, date of birth, and social security number available when you call.
Are There Any Upgrades on the Kohl's Charge?
If you spend $600 or more in a year on your Kohl's Charge, you are automatically enrolled in the MVC (Most Valuable Customer) program, which entitles you to even more discounts and special offers that other customers don't get.
How Soon Can I Use My Kohl's Charge Once I Receive It?
After receiving your Kohl's Charge in the mail, you can start using it immediately.
It's a good idea to register your card through the My Kohl's Charge account first to let you see your balance, rewards points and more.
How Do I Contact Kohl's Charge Services?
You can contact Kohl's Charge Services by phone at 1-855-564-5748.
How Do I Increase the Credit Limit on My Kohl's Charge?
To apply for an increase in your Kohl's Charge Credit Limit, you'll need to login to the My Kohl's Charge account (or register if you haven't already), then click on Request Credit Line Increase, and enter the information requested and click submit. Your request will then be reviewed and approved or disapproved accordingly.
How Do I Report a Stolen Kohl's Charge?
If your Kohl's Charge has been lost or stolen, please contact Kohl's Customer Service Center at 1-855-564-5748.
You can reach Kohl's customer service between 7am-10pm Monday through Saturday and 9am-10pm Sunday (Central Time).
If you need a replacement card, simply log in to the My Kohl's Charge account, click Account Maintenance at the top of the navigation bar, and then click on Request Replacement Card. Then select the cardholder who needs a replacement card and click Submit.
How Do I Cancel My Kohl's Charge?
You can cancel your Kohl's Charge and close your account by contacting Kohl's by phone at 1-855-564-5748.
The account owner can also email customer service by logging into the My Kohl's Charge account and clicking Message Center.
Can Someone Co-Sign for a Kohl's Charge Card?
While the owner of the card can add an authorized user to the card, one cannot co-sign for it.
What Credit Score Do I Need to Get Approval for a Kohl's Charge (Visa) Card?
You will need a Fair credit score or better in order to get approved for a Kohl's charge.
Is it Worth Getting a Kohl's Charge Card if I Don't Shop There?
If you don't often shop at Kohl's, you may find that having a Kohl's Charge card doesn't really give you much in the way of savings or rewards.
Can I Use My Kohl's Charge Card Online? Will I Be Charged for Shipping if I Use It Online?
Using a Kohl's Charge to pay for products ordered online doesn't eliminate the need to pay for shipping.
However, there are occasionally discounts and savings which provide you with the option of free shipping if you spend over a certain amount.
You can use your Kohl's Charge Card online, but can only use one credit or debit card per order.
What Credit Score Do I Have to Maintain So That My Account is Not Closed?
You will want to maintain a credit rating of Fair or better. Fair credit generally falls between the score range of 630-689.
Which Credit Bureaus Does Kohl's Charge Card Report To?
Kohl's Charge Card pulls information from Experian, one of the three major credit bureaus.
Why Has Kohl's Not Updated My Balance to the Credit Reporting Agencies?
Typically new Kohl's charge balances and payments are reflected in your credit report each month.
If you've paid off your balance, but it still shows on your credit report, you'll want to contact customer service for more information.
Does the Kohl's Charge Card Have an Expiry Date?
The Kohl's Charge card does not have an expiry date, however, if you need a replacement card, you can request one through your My Kohl's Charge account.
Should I Opt Out from Account Ease When Signing Up?
Account Ease is a combination of additional programs that a user can enroll in upon applying for a Kohl's Charge. These include:
- The Payment Protection Policy – a type of "insurance policy" wherein if a customer is unable to pay the balance on their Kohl's Charge because they were laid off from their job, became hospitalized, disabled or died, the card is paid off. Currently, the fee for this service is $1.60 per $100 of your monthly balance.
- PrivacyGuard – A service which claims to protect the user's identity through a credit monitoring service. Currently, the fee for this service is $14.99 per month.
You will need to decide if these programs are right for your specific situation before enrolling in them.
However, you should know that there is currently an ongoing lawsuit from customers against Kohl's for adding these charges to their card.
The plaintiffs in the case felt that the credit card fees assessed on their accounts were deceptively placed.
Many customers were automatically enrolled in these programs without their prior knowledge or permission.
What is the Credit Insurance Program and How Will It Cover Me If I Lose My Job?
The credit insurance program, also known as the Payment Protection Policy will pay the balance on your Kohl's Charge in the event that you are laid off from your job, became hospitalized, disabled or died.
These types of "credit protection" insurance-type policies may be worth looking into depending on your specific situation.
However, it's always a good idea to monitor your statement carefully and look for any unusual extra charges and fees.
Do Veterans Get Extra Promotions on the Card?
Owners of a Kohl's Charge card enjoy additional discounts throughout the year – more so if they are also MVCs, hold Kohl's Cash or have accumulated Yes2You rewards.
There are currently no specific discounts for veterans.
It's safe to say that this card isn't meant for everyone.
If you're seeking a way to build your credit while having the freedom to shop where you please, another card might suit you better.
But if you're an avid Kohl's shopper and you're willing to take on a high interest rate in the name of fashion, this card is probably a great option for you.