Michaels Credit Card
Basic Information
Program ID: michaels-credit-card
Issuer: BreadFinance
Card Type: Credit
Network: Mastercard
Card Tier: Standard
Data Complete: Yes
Created: 01/15/2026 14:50
Last Scraped: 01/15/2026 14:51
Fee Structure
| Annual Fee: | $0.00 |
| Year 1 Waived: | No |
| Effective Annual Fee: | $0.00 |
| Authorized User Fee: | $0.00 |
| Penalty APR: | 30.00% |
Additional Fees
| Late Fee: | $40.00 |
| Returned Payment: | $40.00 |
| Balance Transfer: | N/A |
| Cash Advance: | Either $10 or 5% of the amount of each cash advance, whichever is greater |
| Foreign Transaction: | 0.00% |
Interest Rates
Purchase APR Range: 2,999.00% - 2,999.00%
Intro Purchase APR: 0.00%
Intro APR Duration: 0 months
Balance Transfer APR: 0.00%
Intro BT APR: 0.00%
Intro BT Duration: 0 months
Cash Advance APR: 2,999.00%
Sign-Up Bonus
Bonus Amount: $20.00
Spending Requirement: $0.00
Time Period: 0 days
Bonus Timing: Discount applied instantly at the point of sale on the first qualifying purchase.
Rewards Program
Reward Type: Points
Base Reward Rate: 1.00%
Bonus Reward Rate: 5.00%
Bonus Categories: 5x Michaels Purchases
Point Value Estimate: 0.0100 cents/point
Expiration Policy: Points expire after 24 months of account inactivity.
Transfer Partners: N/A
Approval Criteria
Recommended FICO Range: 670 - 850
Approval Odds Category: Good
Pre-qualification Available
Soft Pull Supported
Hard Pull Bureau: Experian, TransUnion, Equifax
Issuer Rules
Rules: New cardholders receive 20% off their first Michaels purchase made within 30 days of account opening, plus an additional 10% off all subsequent Michaels purchases for the first 60 days. Earn 5% back in Michaels Rewards on all eligible Michaels purchases. Eligibility requirements: Applicants must be at least 18 years old, a U.S. resident, possess a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), and have a satisfactory credit history. Approval is subject to BreadFinance's credit underwriting standards. Card is only valid for purchases at Michaels stores and michaels.com within the U.S. Cannot be used for gift card purchases or certain services.
Maximum Cards Per Issuer: 1
Minimum Spend Interval: 30 days
Shutdown Risk Triggers: Excessive returns, suspected fraudulent activity, repeated late payments, abuse of promotional financing offers, or attempts to circumvent store-specific purchase restrictions (e.g., bulk buying for resale).
International Friendly
User Analytics & Insights
User Ratings
Average Rating: 3.0 / 5.0
Top Positive Feedback:
Excellent for frequent Michaels shoppers due to high rewards rate on store purchases and initial discount. No annual fee is a plus.
Top Negative Feedback:
Rewards are heavily skewed towards Michaels, with low earnings elsewhere. High APR and common complaints about Comenity's customer service and account management.
Approval Experience Score: 70.0 / 100
Recommended Alternatives
- Joann Credit Card
- Hobby Lobby Credit Card
- Amazon Prime Rewards Visa Signature Card
Card Value Score: 65.0 / 100
Est. Annual Rewards: $65.00
User Portfolio Metrics
Avg Portfolio Size: 3 cards
Avg Portfolio Age: 48 months
Store vs Co-brand: 70% Store / 30% General
Risk Assessment
Default Risk Group: Medium
Predicted Approval Probability: 75.0%
Terms Version Control
Version ID: v1.0