Want better shopping rewards at Kohl’s? You’re not alone.
The Kohl’s credit card ranks high among retail store cards. CreditCard highlights its strong discount structure and exclusive perks.
Should you add this card to your wallet in 2024?
Our team analyzed the card’s benefits for weeks. We examined everything from sign-up bonuses to reward programs that help you decide better.
The detailed review covers what you need to know about the Kohl’s credit card. This includes payment options, customer service quality, and expected savings. It helps both regular Kohl’s shoppers and people learning about their options.
Understanding the New Kohl’s Card Experience
Capital One’s takeover of the Kohl’s credit card brings major changes in 2024. The new management promises better features and more flexibility to cardholders.
The new rewards program looks impressive. Cardholders can now earn:
- 7.5% rewards on Kohl’s purchases
- 3% rewards on gas stations
- 2% rewards at grocery stores
- 1% rewards on all other purchases
Capital One has completely redesigned the digital experience. Their mobile app gives you 24/7 account access to manage your Kohl’s credit card payments and track purchases naturally. The new security features are robust with zero liability protection against unauthorized charges and active account monitoring.
The new contactless payment feature stands out from the rest. You can now add your Kohl’s credit card to Kohl’s Pay in the mobile app for quick, touch-free transactions. Your existing AutoPay and paperless settings will move automatically to the new system. You’ll just need a new online account on Capital One’s platform.
Your Most Valued Customer (MVC) status and existing rewards stay the same during this change. These improvements make the Kohl’s credit card a better choice for your daily spending needs.
Maximizing Card Benefits
Our latest analysis shows that the best way to maximize your Kohl’s credit card benefits comes from understanding its multi-tiered rewards structure. Cardholders can earn an impressive 7.5% rewards on Kohl’s purchases, which is substantially higher than the standard 5% rate regular members receive.
The new Kohl’s Rewards® Visa comes with amazing earning potential:
- 7.5% rewards on all Kohl’s purchases
- 3% rewards on gas station purchases
- 2% rewards on grocery store transactions
- 1% rewards everywhere else Visa is accepted
Your rewards automatically convert to $5 Kohl’s Cash increments on the first day of each month and remain valid for 30 days. Smart shoppers can boost their savings by combining these rewards with exclusive cardholder discounts.
The Most Valued Customer (MVC) status becomes available after spending $600 in a calendar year. This premium status gives you free shipping opportunities monthly throughout the following year.
Cardholders receive exclusive monthly deals and a special anniversary offer annually. These benefits work great with Visa Signature perks, including concierge service and travel assistance, to help you get the most value from your card.
Note that you can combine these rewards with regular Kohl’s Cash promotions. This means you can earn an extra $10 Kohl’s Cash for every $50 you spend during promotional periods.
Credit Building Potential
Our research shows that the Kohl’s credit card is a great tool to build credit history. Capital One reports your account activity to all three major credit bureaus each month, which makes this card valuable for your credit portfolio.
Here are proven strategies to build credit with your Kohl’s card:
- Make payments before the due date consistently
- Keep your balance below 30% of your credit limit
- Monitor your credit report for accurate reporting
- Set up automatic payments to avoid missed deadlines
The largest longitudinal study reveals that Capital One might increase your credit limit automatically when you use the card responsibly. These automatic increases need only soft credit pulls, which helps protect your credit score.
You’ll need a credit score of 640 or higher to get the best approval odds. Potential cardholders can check if they pre-qualify without any impact on their credit score. Latest research indicates that new account information shows up on credit reports within 30-60 days after approval.
Capital One reviews your account regularly and looks at factors like payment history and credit utilization. The company’s credit monitoring tools are a great way to get insights about your progress.
Conclusion
Our analysis shows the Kohl’s credit card is an excellent choice for loyal Kohl’s shoppers in 2024. Capital One’s management has made this card more competitive than ever before. The rewards structure now offers an impressive 7.5% back at Kohl’s, which outperforms many retail cards.
The card’s credit-building features stand out, especially when you have regular reporting to all three bureaus and possible automatic credit limit increases. Cardholders can combine their rewards with Kohl’s Cash promotions and exclusive discounts to maximize savings.
This card works best for customers who spend at least $600 yearly at Kohl’s to qualify for MVC status. The APR is higher than traditional credit cards. However, the rewards structure and improved digital features make it a worthwhile choice for frequent Kohl’s customers who pay their balance in full each month.
FAQs
What credit score do I need to qualify for a Kohl’s credit card?
For the best approval odds, you’ll need a credit score of 640 or higher, which falls in the fair credit range. However, keep in mind that approval also depends on factors like your annual income and existing debts.
Is Kohl’s transitioning all its credit cards to Capital One?
Yes, all active Kohl’s Card holders will be transitioning to the Capital One account management platform by March 2025. The core credit card program remains the same, but with enhanced features and benefits.
What’s the typical credit limit for a Kohl’s credit card?
Credit limits for Kohl’s cards can vary widely, ranging from $300 to $300,000. New cardholders, even those with credit scores above 700, often start with a limit around $1,000. Capital One may offer automatic credit limit increases based on responsible card usage.
Who is the new issuer of the Kohl’s credit card?
As of 2024, Capital One, N.A. is the issuer of Kohl’s Card accounts. This partnership brings enhanced features and greater flexibility to cardholders.
What are the main benefits of the new Kohl’s Rewards® Visa?
The new Kohl’s Rewards® Visa offers an impressive rewards structure: 7.5% rewards on Kohl’s purchases, 3% on gas station purchases, 2% at grocery stores, and 1% on all other purchases. It also includes features like contactless payments and integration with the Capital One mobile app.
How can I maximize my benefits with the Kohl’s credit card?
To maximize benefits, aim for Most Valued Customer (MVC) status by spending $600 in a calendar year, use your card during special promotions, stack rewards with Kohl’s Cash offers, and take advantage of exclusive cardholder discounts and monthly deals.
Can the Kohl’s credit card help me build credit?
Yes, the Kohl’s credit card can be an excellent tool for building credit. Capital One reports your account activity to all three major credit bureaus monthly. To build credit effectively, make timely payments, keep your balance low, and monitor your credit report regularly.
Is the Kohl’s credit card worth it in 2024?
For frequent Kohl’s shoppers who spend at least $600 annually at the store, the Kohl’s credit card can be very worthwhile. The 7.5% rewards rate on Kohl’s purchases, combined with exclusive discounts and the ability to stack rewards, make it a valuable option. However, it’s best suited for those who can pay their balance in full each month due to the higher APR.