Are you an avid Emporium shopper who just loves the BNPL movement? If yes, the Emporium Black Card might be for you.
But if you’re looking for a more versatile option, you might go ahead and jump to the alternatives section.
Not sure what to do?
Read on and we’ll help you make up your mind—
This article will show you:
- What the Emporium Black Credit Card is.
- Its fees, pros, and cons.
- Some noteworthy alternatives.
Read more:
Emporium Black Credit Card at a Glance
Full name: Emporium Black Store Credit Card
Best for: Building or rebuilding credit and luxury shopping
Issuer: Emporium Retail Group
Required credit score: Accepts different credit scores (including those with poor or limited credit history)
What’s the Emporium Credit Card?
The Emporium Credit Card is like a store line of credit that only works at the Emporium online shop.
It’s not a regular credit card but more of a buy now, pay later option: Customers can snag items from the Emporium website and pay over time through a payment plan.
This card is aimed at folks looking to build or fix their credit since it’s cool with a wide range of credit scores.
Features of the Emporium credit card include:
No credit check
Unlike most credit cards, Emporium doesn’t check your credit score during the application process, making it easier for those with less-than-perfect credit history to get approved.
Buy now, pay later
The Emporium credit card operates more like a lease-to-own program, letting you buy things and pay for them in installments over a predetermined period.
Lease payment flexibility
Cardholders can choose to make payments either weekly, bi-weekly, or monthly, tailoring the payment plan to their personal financial situation.
Early buyout option
You can buy out the merchandise early, which can bring you substantial savings.
Remember
Check out the payment plans and terms because the costs might end up higher than with a traditional credit card.
How does the card work?
When you buy something, you can pick an Early Payment Option (EPO).
Here’s what you need to know:
1. Choose EPO within 120 days
Pick EPO within 120 days: Just pay the cash price, minus whatever lease payments you’ve made already, and then add taxes.
2. Choose EPO after 120 days
Pay 50% of the difference between total lease payments and what you’ve paid so far (no taxes or fees).
Emporium Credit Card: Overall Card Review
|
Category |
Features |
|
APR |
37%–100% |
|
Annual fee |
$0 |
|
Intro offer |
None |
|
Rewards |
None |
|
Overall credit card rating |
3/5 |
Emporium Black Card—Pros & Cons
The Emporium black credit card has plenty of pros and cons, so make sure you think them over before you decide whether it’s a good card for you:
|
Pros |
Cons |
|
Helps build or rebuild credit |
Operates on payment plans instead of a standard interest rate, which can lead to higher overall costs |
|
Accepts those with poor or limited credit history |
No rewards or cashback |
|
Offers a buy now, pay later option |
Lesser-known issuer |
|
Exclusive access to the Emporium online retail store |
Can only be used at the Emporium online retail store |
|
No annual fees or hidden charges |
Lease or payment plan fees can accumulate over time |
|
Flexible payment options (various payment frequencies, such as weekly, bi-weekly, or monthly) |
Causes temptation to overspend |
|
Easy application process |
Requires an existing checking account and income verification |
Key Emporium Credit Card Fees & Rates
|
Annual fee |
$0 |
|
APR |
37%–100% |
|
Foreign transaction fee |
N/A |
|
Late fee |
N/A |
|
Minimum interest charge fee |
N/A |
As you can see, the APR is very steep. And it doesn’t work like a regular APR, either—
Interest rates vary based on payment term length, typically from 12 to 36 months.
With a 37% rate for 36 months and around 100% for 12 months, opting for the 36-month term will get you lower interest payments.
Alternatives: How Does Emporium Credit Card Compare to Other Cards for Less-Than-Perfect Credit?
|
Feature |
Emporium Credit Card |
Amazon Prime Rewards Visa Signature Card |
|
|
Annual fee |
$0 |
0% |
$0 (with Prime Membership) |
|
APR |
37%–100% (Payment plans) |
reg_apr,reg_apr_type |
14.24%–22.24% (Variable) |
|
Usage |
Emporium online store |
Anywhere |
Amazon, Whole Foods, and other merchants |
|
Rewards |
N/A |
N/A |
5% on Amazon & Whole Foods, 2% on dining, travel & drugstores, 1% on other purchases |
|
Credit-building potential |
Yes |
Yes |
Yes |
|
Discounts or financing deals |
N/A |
N/A |
N/A |
Read more:
Is Emporium Credit Card Good for Me?
To find out if the Emporium Credit Card is good for you, think through the following details:
Credit-building potential
The Emporium Credit Card is designed for those looking to build or rebuild their credit, as it accepts a wide range of credit scores, including those with poor or limited credit history.
Limited usage
You can only use it at the Emporium online retail store.
If you prefer shopping at this specific store—and would like a buy now, pay later option—this card might be for you.
No traditional APR
Instead of charging an APR, the card operates on fixed payment plans. This setup can sometimes result in higher overall costs compared to traditional credit cards.
Depending on the payment plan, you may end up paying from 37% to 100% in interest.
No rewards or cashback
The Emporium Credit Card doesn’t offer any rewards, points, or cashback programs. If you’re looking for such incentives, you might want to consider alternative cards.
If you often shop at the Emporium online store (and want a card that helps build your credit) it might be a good fit.
But if you seek versatile usage, rewards programs, or lower overall costs—other credit card options might better suit your needs.
FAQ
What’s the Emporium Black credit card limit?
The Emporium Black Credit Card is not a conventional credit card. The Emporium Retail Group offers buy-now-pay-later, lease-to-own, and installment payment programs instead.
The Emporium Black Card doesn’t have a traditional credit limit like a regular credit card. The spending limit is determined based on your individual creditworthiness and approval for a specific purchase through Emporium’s shopping platform.
The amount you’re approved for varies between $300 and $5,000, depending on your credit score and financial history.
What are the Emporium Black credit card requirements?
The Emporium Black Card isn’t a traditional credit card but a line of credit for buy-now-pay-later, lease-to-own, and installment payment programs.
To be eligible for the Emporium Black Card or obtain credit through their platform, applicants generally need to meet the following requirements:
- Age: You have to be at least 18 years old (or the age of majority in your state).
- Income: You need to have a consistent and verifiable source of income.
- Bank account: You must keep an active checking account in good standing.
- Creditworthiness: While traditional credit card requirements might not apply, Emporium may still check your credit score and financial history when figuring out your eligibility and spending limit.
Keep in mind that these conditions may vary or change, so it’s a good idea to check with Emporium for their most current eligibility guidelines.
Does Emporium report to credit bureaus?
Yes, Emporium does report your payment history to all three credit bureaus.
By timely making lease-to-own or installment payments on your purchases through the Emporium shopping platform, you can potentially build or improve your credit score. Conversely, late or missed payments may have a negative impact on your credit score.
It’s essential to ensure consistent, timely payments to maintain or enhance your credit standing.
What is the Emporium credit card?
The Emporium credit card is a store card offered by Emporium.com, an online shopping site that lets folks with not-so-great credit or no credit history get stuff on affordable lease terms.
The Emporium Black card has no annual fee, but the interest rate is very high.
See better alternatives:
What are the Emporium Black credit card benefits?
The Emporium Black credit card benefits include letting people with bad or no credit history shop on the platform while building credit.
Here’s a rundown of the perks you get with this card:
- No credit check: Emporium doesn’t stress about your credit score when you apply, making it simpler for you to get on board.
- Shop now, pay later: With Emporium Black, you can grab the goods now and pay for them in installments over a set time, sort of like a lease-to-own plan.
- Payment plans your way: Choose to make payments weekly, bi-weekly, or monthly.
- Early buyout bonus: You can buy out your merchandise early to save quite a bit compared to sticking with the full lease term.
Sources
See all
Emporium. (n.d.). Emporium Credit Card. Emporium. Retrieved June 19, 2023, from www.emporium.com
