Container Store Credit Card – 7 Critical Pros and Cons
If you’re a regular shopper at the Container Store, you might have considered getting their credit card to save money and earn rewards.
However, with so many credit cards out there, it can be tough to determine whether the Container Store Credit Card is worth it.
In this article, we’ll provide an in-depth review of the card, its pros and cons, and how it stacks up against similar retail cards.
By the end, you’ll have a better idea of whether the Container Store Credit Card is the right choice for you.
Container Store Credit Card: Let's Break It Down
One of the key features of The Container Store Credit Card is the deferred-interest financing option. This means that you won’t have to pay any interest on your purchase as long as you pay off the full balance within the period. Note that making minimum payments along the way over the period will not result in you paying off the full balance within the period.
- Purchases love $199, get 6 months of deferred financing
- Purchases love $500, get 12 months of deferred financing
- Purchases love $3,000, get 12 months of deferred financing
In addition to the financing option, cardholders are automatically enrolled in The Container Store’s loyalty program, called the Organized Insider program (formally called the POP! program).
It’s critical to understand that if you don’t pay off the full balance within the required time frame, your purchase will be subject to their very, very high APR interest rate of 29.99! What’s worse is that interest payments will be charged as calculated from the date of purchase, not just from when you missed a payment.
Interest Rates and Fees
The Container Store Credit Card comes with a super high-interest rate compared to other credit cards. The APR is currently at 29.99%, well above the national average. However, if you pay off your balance in full each month, you won’t have to worry about paying any interest. This is typical for store credit cards, though.
While there is no annual fee for the card, late payment fees and returned payment fees apply. It’s important to make your payments on time to avoid these fees.
Pros of the Container Store Credit Card
For regular shoppers at the Container Store, there are several advantages to using the store credit card:
Flexible Financing Options
If you make larger purchases, you have the option to finance them with no interest for up to 24 months. This can be particularly useful if you’re doing a large organizational project in your home and don’t want to pay everything upfront.
For instance, if you’re planning a closet renovation, you can use the Container Store Credit Card to finance the purchase of a custom closet system and pay it off over the course of a year without any interest charges. This allows you to spread out the cost of the project and make it more manageable.
No Annual Fee
The Container Store Credit Card has no annual fee, which means you don’t have to worry about paying an additional cost simply for having the card in your wallet.
Unlike some credit cards that charge an annual fee, the Container Store Credit Card allows you to enjoy the benefits of the card without any extra costs.
Online Account Management
The Container Store Credit Card allows you to manage your account easily on their website, pay bills and manage your information in a convenient fashion.
You can view your statements, make payments, and update your personal information all in one place.
Cons of the Container Store Credit Card
Despite the advantages, there are some drawbacks to the Container Store Credit Card that you should keep in mind:
The Container Store Credit Card can only be used at their stores, which means that you can’t use it at other retailers or for online purchases. This limits its usefulness compared to general credit cards that can be used across multiple merchants.
The Container Store Credit Card comes with a high-interest rate compared to other credit cards on the market. If you don’t pay off your balance in full every month, you could end up paying a lot in interest. However, this is a common issue with store credit cards, as they often have higher interest rates than general credit cards.
If you are considering applying for the Container Store Credit Card, it’s important to make sure that you can pay off your balance in full each month to avoid accruing interest charges. If you carry a balance, the interest charges could quickly outweigh any rewards or benefits you receive from using the card.
No Rewards or Points
This credit card does not accrue any rewards or points. Special financing is the only major benefit.
While it looks like the Container Store used to have a points/rewards system (separate from its credit card), they have moved to a new system that just applies discounts if you are a member. This loyalty program is separate from the credit card.
No Balance Transfers or Cash Advances
The Container Store Credit Card doesn’t allow balance transfers or cash advances, which could be a deal-breaker in case you want to transfer debt or need quick access to cash. However, it’s important to note that store credit cards are not typically used for balance transfers or cash advances.
Comparing the Container Store Credit Card to Other Retail Cards
When it comes to retail credit cards, the options can be overwhelming. While the Container Store Credit Card has its advantages and disadvantages, it’s important to compare it to other retail credit cards to get an idea of how it stacks up:
Home Depot Credit Card
The Home Depot Credit Card is a popular option for homeowners and DIY enthusiasts. It also offers a 0% APR introductory offer for 6 months on purchases of $299 or more, which can be a significant advantage for larger purchases.
Home Depot also has several credit card options – 4 actually, depending on how serious of a customer you are. They have 2 consumer options and 2 business options. Depending on which card you pick, you can get benefits beyond just special financing, including cash back for paying on time and earning loyalty points at a much faster rate. It’s worth checking out if you’re a major DIYer.
If you’re just looking for the special financing for a one-off project, though, Home Depot’s card will give you roughly the same benefit as the Container Store’s.
Lowe’s Advantage Card
The Lowe’s Advantage Card is another popular option for homeowners and DIY enthusiasts. It comes with a 5% discount on all purchases made with the card, which can be helpful for more significant purchases. However, it’s important to note that the Lowe’s Advantage Card doesn’t offer the option of reward points.
Unlike the Home Depot Credit Card, the Lowe’s Advantage Card does not offer a 0% APR introductory.
IKEA Visa Credit Card
IKEA has two straightforward credit card options. One offers introductory special financing very similar to the Container Store Credit Card and one offers more regular everyday discounts, including 5% back on IKEA purchases. This can be a significant advantage for those who frequently shop at IKEA. However, it’s important to note that the IKEA Visa Credit Card has a high-interest rate.
Check out some of our other store credit card reviews:
- TJ Maxx Credit Card
- Marshalls Credit Card
- Forest River Credit Card
- Salon Centric Credit Card
- LensCrafters Credit Card
- Little Switzerland Credit Card
- Hanks Credit Card
- LoveSac Credit Card
- Arhaus Credit Card
- Cosmoprof credit card
- Rue21 Credit Card
- Burlington Credit Card
- Famous Footwear Credit Card
- Salon Centric Credit Card
- Athleta Credit Card
Meet the author:
Editor & Author
Cathy Gresham is a finance whiz.
After earning her MBA from The Wharton School, she has worked in strategy at some of the world’s largest and most influential financial companies for 20+ years. Notably, she has worked for the biggest credit card issuers and networks and brings an insider’s perspective to how credit card products work behind the scenes.
Cathy is passionate about personal finance and investing, and loves helping people learn about these complex topics. Her wit and humor make learning about money fun, and she’s always happy to share her knowledge with others.
Cathy enjoys spending time with her family and friends when she’s not crunching numbers or developing investment strategies. She’s also an avid runner, and can often be found pounding the pavement on her morning jog.