With credit card use and credit card debt at all-time highs, consumers are looking for ways to cut back on the amount and type of credit cards they’re using. With cash reward credit cards, rewards cards, department credit cards and conventional credit cards, it’s hard to know which cards to keep and which to eliminate.
Maurices is an American retail clothing store that currently has about 900 stores located throughout the United States and Canada. In 2011, Maurices was ranked #3 among the top ten employers in retail by Forbes. Although it may be a great place to work, is it a great store from which to get a credit card? Their credit card has been around for many years and continues to be very popular with many shoppers. Learn about both the pros and cons of the Maurices credit card.
Pros of the Maurices Credit Card
• They are not as rigid about requiring really high credit scores as some credit card companies tend to be.
• The Maurices credit card may be a good way for consumers with poor or no credit to improve their credit.
• New credit card customers generally get a coupon good for a certain percentage off of their next purchase. The amount of the discount may vary depending on if the card came from the store on in the mail. It may be up to forty percent off.
• Maurices is generous with credit limit increases if payments are made on time.
• Credit limits are often increased without consumer having to ask (also listed as a con by some).
• Credit card holders get advanced notice of upcoming sales and promotions.
• Maurices does not charge an annual fee.
• Credit card holders get special coupons that offer excellent opportunities to save money.
• Credit card payments can be made online, through the mail or even in the store.
• Credit card holders often get free credit card extensions.
• A coupon for five percent off is sent to credit card holders on their birthday.
• The account can be accessed online, allowing the consumer to check account status and view monthly statements.
Cons of the Maurices Credit Card
• This credit card, like many retail store credit cards, charges fairly high interest rates.
• High interest rates on this card can make it difficult to pay off the balance quickly.
• Maurices credit card does not offer rewards, points or rebates or any way for customers to earn them.
• Consumers often get credit limit increases without having to make a request.
• Many customers complain that credit limit increases fluctuate from up to down and without much regularity.
• It can only be used at Maurices stores because it’s not a major credit card like MasterCard or Visa.
• Because some credit limits may be low, it’s difficult to use the credit card and still maintain a certain balance so as not to hurt credit scores.
• They charge late fees, although this is similar with many department or retail store credit cards.
• Payments made late in the day are not credited until the next day, often resulting in a late fee if payment is right on the final due date.
• Many customers complained that online customer service was not 24/7 and had room for improvement.
• The APRs vary from one customer to another; the lowest APR is 24.99%, according to Finance Globe.
Overview of the Maurices Credit Card
As is the case with many credit cards, you are going to find almost as many cons as pros. The Maurices credit card definitely falls into this category. As retail or clothing store credit cards go, this card is quite popular with responsible shoppers who enjoy great savings. While many feel that their initial prices are higher than most retail stores, the coupons offered to their credit card holders allowed the shoppers to get excellent buys. In some situations, customers may use more than one coupon at one visit.
