We've all known the experience. We're shopping at a local retailer, heading through the checkout line, when the store associate conveniently asks if we'd like to save money off of our purchase. Well, of course, we'd all love to save more money, but is it worth it to sign up for another credit card? These days just about every major retailer offers a credit card with targeted perks specifically for their customers. Retail branded credit cards can be a great option for shoppers loyal to specific stores as deals and perks can add up to some nice savings. In this article, we'll review the Menards card and see how it stacks up to some traditional credit cards.

For our review, we considered a handful of different criteria including the benefits for consistent Menards shoppers and those who are more likely to use the card in day-to-day life. We broke down the various rewards offered with the card and also the annual fees and interest rates associated with the Menards credit card as it compares to some other leading credit cards available to consumers. We even weighed in on the card's aesthetic. Who has room in their wallet for another ugly piece of plastic, right? We used a simple 5-star rating system in this review to give a quick comparison of this high and low points of each card.

Card Benefits And Perks

Purchase Rebate

Like most retail store credit cards, Menards gears this card towards frequent customers. Every purchase you make using this card receives an automatic 2% rebate, regardless of the total bill. There is a slight catch with this rebate, however, as it comes in the form of a merchandise credit. They issue the credit quarterly on the card, and it only begins after it has accrued five dollars. Though a cash-back reward might be more functional for less frequent users, rebate earnings roll over quarterly and could amount to some hefty savings if they're saved up. An added perk is that Menards will allow users to combine in-store rebates with manufacturer rebates, creating significant savings, especially on big-ticket items.

Special Financing

Another key benefit of the Menards credit card is the financing options. Users can choose 0% APR financing for purchases between $299 to $1,499 with further benefits coming for purchases over $1,500. They offer a variety of special promotional financing options for cardholders including a Waived Interest Charge credit plan, the Same-as-Cash monthly payment plan, and a Reduced Rate credit plan. Each of these plans includes a six month financing period, and they will charge zero interest with on-time or early payment. A 48-month financing period is also available for bigger purchases that will incur a 3.99% interest rate.

This could be a perfect choice for bigger home improvement projects that will rely heavily on Menards stores for products and supplies. One thing to note here is that financed purchased with the card will not be subject to the 2% rebate included with regular purchases. Also, Menards requires a minimum monthly payment on any financed purchases. Menards may assess late payments at the standard variable interest rate, which is currently 29.49%.

Gas Discounts

To sweeten the deal, Menards has partnered with a handful of gas stations to offer a 1% discount on gas at the following retailers:

Easy Account Management

This card offers a simple online interface for managing and accessing your account. Users can go online to the Menards credit card website and create an account. The web interface allows users to check your balance, pay bills, track your recent purchases, set up automatic payments, view your account history and download any documents associated with the account.

Extra Perks And Promotions

One big benefit to this card is that it carries no annual fee. While this is fairly common in loyalty cards like the Menards credit card, it could be a deal breaker for those considering signing up.

Besides these perks, Menards also offers various sales and promotions specifically for their credit card holders. These extra benefits can come in the form of seasonal sales, increased rebates on certain products, reduced financing on long-term purchases, lengthened financing terms up to 84 months for certain products and invitations to special cardholder-only sales events.

Is This The Right Card For You?

The main questions to ask before signing up for this card is: "How often do I shop at Menards?" If you're a regular customer or a DIY enthusiast that could become a regular shopper, the Menards credit card could be a great choice. The 2% rebate could be a nice perk even for someone who has a Menards nearby and could use the store for some home purchases like paper towels and cleaning supplies. Having the option to save on home necessities could take a significant bite out of your monthly spending, but only if you actually a shop at Menards.

If you're a person who is more likely to call a handyman, or if there aren't any Menards locations in your area, this card may not be the best choice. Most of the perks and benefits of this credit card are specific to the store including the merchandise discounts and financing options. The 1% discount on gas could be a nice option, but this perk is also limited to a handful of participating gas stations that may or may not be convenient.

Another consideration if you're considering this card is whether you have any home improvement projects on the horizon. The financing options offered with the Menards credit card could be a game changer if you have a project that needs completing and Menards is your nearest hardware store. Been holding off on replacing that leaky water heater until you've stashed away a little more money? You could fix it up right now with 0% percent APR financing. This is a great option for those need a push to get a project started, but only if you're likely to get the bill paid on time and you can afford the minimum monthly payment over six months. Heavy interest payments or penalties could loom if you miss a bill or if you push into a longer-term financing plan.

How it Compares

We picked a couple of similar products available on the market to see how they compare.

Conclusion

The Menards credit card offers some nice perks and benefits for their most loyal customers. The biggest strength of this card lies in the financing options available to members. With 0% APR available for purchase above $299, this card could be the difference-maker in a home improvement project or renovation. It's 2% purchase rebate also competes with the cash back options offered by Capital One and Citi, as long as someone uses it on merchandise from Menards. The gas discount may even say you a buck or two on your drive.

Overall we have rated this card a three out of a five because it could be a valuable card, but only for very specific users. If, for example, you are a contractor that lives near a Menards and uses the store frequently then a 2% purchase rebate could really add up. Or it could be a great choice if you're planning a DIY project and your local Menards is the most convenient option. For the casual shopper, or for someone who already has another credit card with a rewards program, this card may not be worth the time to apply.