The JCPenney credit card is offered by GE Money Bank. Applicants with decent credit are able to obtain one of these cards. They are also usable in Rite Aid or CVS pharmacies. However, the card isn't accepted everywhere else. Many users of the card are thrilled that it is usable online and in the stores. Offering modest credit limits, this card is a good choice for young people who are trying to build credit. It's important to avoid making multiple purchases, paying the minimum amount and allowing the balance to build continuously. Finance charges and the APR are usually high on this card.
Another benefit enjoyed by people who own a JCPenney credit card is good customer service. It's impossible to put a value measured in dollars and cents on good customer service. By calling the toll-free number, cardholders enjoy short waiting periods, friendly representatives and prompt attention for problems. Although the reps are helpful, they are strict about paying in a timely manner. Cardholders who pay late may notice an increase in their card's interest rate. Usually the introductory rate is around 25%. If a payment is late, the rate may increase to about 30%.
The JCPenney credit card offers a monthly bonus program. To earn the bonus, cardholders must spend $250. After spending this amount, cardholders are rewarded with a $10 credit toward any purchase. This is a repetitive reward, which means it is available to use one time each month. This also means that accumulated purchase amounts expire each month. Purchases that include sale or clearance items don't count toward the reward program. In addition to the monthly bonus program, the card company sends cardholders sale notifications, coupons and promotional offers.
Obtaining a JCPenney credit card isn't hard. Anyone may apply for a card online or at a retail store. Approval, if granted, usually takes only a few minutes. If instant approval isn't granted, a letter from GE Money Bank explaining the reasons for declination is sent to the applicant. Once the card application has been approved, it is possible to begin making purchases. There is no annual fee with this card. Since GE Money Bank reports to all three major reporting agencies, it's important to make regular payments on time. This will also help raise credit scores over time. In addition to this, paying bills on time helps reduce the chance of an undesirable rate increase on a JCPenney credit card.