16
Benefits2
Reward Categories9x
Max Reward30%
APR FromBasic Information
PENDINGProgram ID: michaels-credit-card
Issuer: BreadFinance
Card Name: Michaels Credit Card
Card Type: Credit
Network: Mastercard
Card Tier:
Approved: Pending
Data Complete: Complete
SCRA Benefits (Military Members)
Federal law provides important protections to members of the Armed Forces and their dependents, limiting the cost of credit to an annual percentage rate of 36 percent, including certain fees.
Rewards Program (Detailed) 2 Categories
PENDING| Category | Rate | Type | Description | Annual Cap | Status |
|---|---|---|---|---|---|
| Michaels Purchases | 9x | Cash Back | Purchases made at Michaels stores and michaels.com. | No Cap | |
| All Other Purchases | 1x | Cash Back | Purchases made everywhere else Visa is accepted. | No Cap |
Rewards Summary
PENDINGBenefits & Protections (Detailed) 16 Total
PENDINGLifestyle 1
Paperless Statements
Option to receive electronic statements instead of paper statements.
Security 7
Zero Fraud Liability
$0 liabilityYou are not responsible for unauthorized purchases made with your card or account information.
Fraud Protection
Advanced systems and services to help protect your account from fraudulent activity.
Identity Theft Resolution Services
Assistance with resolving identity theft issues, including help with notifying creditors and credit bureaus (standard Visa benefit).
Online Account Access
Manage your account, view statements, and make payments online.
Account Alerts
Receive notifications and alerts regarding your account activity.
Emergency Card Replacement
Expedited replacement of your credit card if it is lost or stolen (standard Visa benefit).
Emergency Cash Disbursement
Access to emergency cash if your card is lost or stolen (standard Visa benefit).
Shopping 7
Enhanced Michaels Purchase Rewards (First 90 Days)
9% in RewardsEarn a total of 9% in Rewards on Michaels purchases for the first 90 days after account opening. This includes the base 3% for Michaels Rewards Members plus an additional 6% for cardholders.
Standard Michaels Purchase Rewards
6% in RewardsEarn a total of 6% in Rewards on Michaels purchases after the first 90 days. This includes the base 3% for Michaels Rewards Members plus an additional 3% for cardholders.
Everywhere Else Purchase Rewards
1% in RewardsEarn 1% in Rewards on purchases everywhere else Visa is accepted.
Rewards Voucher Issuance
Vouchers issued in $5 incrementsRewards are issued as Michaels Rewards vouchers.
Rewards Voucher Expiration
45 days from issuanceMichaels Rewards vouchers expire 45 days from issuance.
Special Financing Offers
Varies by offerAccess to special financing offers available on qualifying Michaels purchases. Specific offers vary.
Exclusive Cardholder Offers
VariesReceive exclusive cardholder offers and special savings throughout the year via email and mail.
Status Benefits 1
Automatic Michaels Rewards Program Enrollment
Automatic enrollment in the Michaels Rewards program upon credit card approval.
Benefits Summary (Flags)
PENDINGExtended Warranty
Purchase Protection
Cell Phone Protection
Travel Insurance
Primary Rental Protection
Airport Lounge Access
Trip Delay Coverage
Lost Luggage Coverage
Price Protection
Concierge Service
No Foreign Fees
ShopRunner
Sign-Up Bonus
No Sign-Up Bonus Available
Click "Get Data" button below to fetch sign-up bonus information.
Fee Structure
PENDING| Annual Fee: | $0.00 |
| Year 1 Waived: | No |
| Effective Annual Fee: | $0.00 |
| Penalty APR: | 29.99% |
| Min Interest Charge: | $2.00 |
Additional Fees
PENDING| Late Fee: | $41.00 |
| Returned Payment: | $41.00 |
| Balance Transfer: | Either $10 or 5% of the amount of each balance transfer, whichever is greater |
| Cash Advance: | Either $10 or 5% of the amount of each cash advance, whichever is greater |
| Foreign Transaction: | 0.00% |
Interest Rates & APR
PENDINGStandard APR
Purchase APR: 29.99% - 29.99%
Cash Advance APR: 29.99%
Intro APR Offers
Promo Financing: Deferred Interest
Promo Duration: 12 months
Approval Criteria & Requirements
PENDINGCredit Score Requirements
Application Process
Issuer Rules & Policies
PENDINGRules: New cardholders receive 20% off their first Michaels purchase made within 30 days of account opening, plus a $10 bonus reward after spending $50 outside of Michaels within the first 90 days. Earn 9% back in rewards at Michaels and 1% back everywhere else. Eligibility requirements: Applicants must be at least 18 years old (19 in AL and NE), a U.S. resident with a valid SSN or ITIN, and meet BreadFinance's creditworthiness criteria. Approval is subject to credit history review. Store-specific restrictions apply, meaning rewards and promotional financing are primarily for Michaels purchases. This card is intended for personal use only.
Max Cards Per Issuer: 1
Min Spend Interval: 90 days
Cliff Effect Rules: No complex card family rules like 5/24. However, failure to make minimum payments on promotional financing offers will result in forfeiture of promotional rates and retroactive interest charges from the purchase date.
Special Events: Seasonal craft sales (e.g., Spring Crafting Event, Back-to-School, Halloween, Christmas), weekly ad promotions, teacher appreciation events, and exclusive cardholder-only discount days.
Holiday Promos: Black Friday/Cyber Monday, Christmas/New Year's, Easter, Mother's Day, Father's Day, 4th of July, Labor Day.
International Friendly: No
User Analytics & Insights
PENDINGUser Ratings
Average Rating: 2.7 / 5.0
Top Positive:
Great for frequent Michaels shoppers, high rewards on store purchases, useful financing options, and attractive initial discount.
Top Negative:
Very high APR, poor customer service, rewards expire, low value for non-Michaels spending, and issues with online account management.
Approval Experience: 70.0 / 100
Recommended Alternatives
- Hobby Lobby Credit Card
- Joann Credit Card
- Chase Freedom Unlimited
Card Value Score: 65.0 / 100
Est. Annual Rewards: $130.00
Approval Probability: 75.0%
Version Control
PENDINGVersion ID: v1.0