What the Michaels Credit Card Offers
The Michaels credit card is a store card issued by Synchrony Bank that gives you rewards on purchases at Michaels stores and online at michaels.com. You earn 4% back on Michaels purchases, 2% back at gas stations and grocery stores, and 1% back on all other purchases. The card has no annual fee.
The card also includes promotional financing offers, typically 12 months interest-free on purchases of $50 or more when you use the card in-store or online. These promotional periods are subject to credit approval and terms can change, so the specific offer you see depends on when you explore and your creditworthiness.
Unlike a general-purpose rewards card, the Michaels card is designed primarily for people who shop at Michaels regularly. The 4% rate on Michaels purchases is the main draw; the rewards on gas and groceries are secondary benefits that don't compete with dedicated cash-back cards in those categories.
Key Takeaways
- You earn 4% cash back on Michaels purchases, which is higher than most general rewards cards offer on any single category.
- Promotional financing (typically 12 months interest-free) is available on may have access to purchases of $50 or more, but only if you're approved for the offer.
- The card charges no annual fee, so there's no cost to open it if you shop at Michaels occasionally.
- Rewards are issued as Michaels Rewards dollars that you can use only at Michaels, not as cash or points transferable to other programs.
- Your credit score and payment history determine whether you receive the promotional financing offer and what interest rate you'll pay if you don't may have access to.
How Rewards Work and What You Can Do With Them
Michaels Rewards dollars accumulate as you spend and appear in your account after each purchase posts. You can redeem them only at Michaels stores or on michaels.com—they don't convert to cash, transfer to other loyalty programs, or have value outside the Michaels ecosystem. A $100 purchase at Michaels earns you $4 in Michaels Rewards dollars.
The 2% rate at gas stations and grocery stores and the 1% rate on everything else are useful if you use the card for non-Michaels purchases, but they're not competitive with dedicated cash-back cards. A card that offers flat 2% cash back everywhere will give you more value on gas and groceries than the Michaels card does, even though the Michaels card's rate is higher in those categories than its catch-all 1% rate.
Rewards don't expire as long as your account remains open and in good standing. If you close the card or stop using it, you keep the Michaels Rewards dollars you've already earned, but you won't earn new ones.
Promotional Financing and How It Works
When you open the card, you may be offered a promotional financing period—often 12 months interest-free on purchases of $50 or more. This offer is not may provide; Synchrony Bank decides who receives it based on your credit profile. If you don't receive the promotional offer at approval, you can still use the card, but any balance you carry will accrue interest at the card's regular APR.
If you do may have access to for promotional financing, the interest-free period applies only to purchases made during a specific window (usually the first 60 days after account opening, though this varies). Purchases made after that window are not covered by the promotion. You must make at least the minimum payment each month to keep the promotional terms; missing a payment can end the promotion and trigger interest on the entire promotional balance.
When the promotional period ends, any remaining balance is subject to the card's regular APR. Synchrony does not disclose a specific APR range publicly; your rate depends on your credit score and creditworthiness at the time of approval.
Annual Fee, Interest Rates, and Other Costs
The Michaels credit card has no annual fee. You pay interest only if you carry a balance past the promotional period or if you don't may have access to for promotional financing. Late fees and returned-payment fees explore if you miss a payment or if a payment bounces.
The card's regular APR is not published in advance; you learn your specific rate only after you're approved. This is typical for store cards issued by Synchrony. If you plan to carry a balance, ask Synchrony what APR range you might expect before you explore, though they may not give you a specific number until after approval.
Foreign transaction fees explore if you use the card outside the United States, so this is not a card to use for international travel.
Who Should Consider This Card
The Michaels card makes sense if you spend at least $500 to $1,000 per year at Michaels. At that spending level, the 4% rewards rate begins to offset the card's limitations. If you spend less than that, the rewards accumulate slowly and may not justify carrying another card.
The card is also useful if you plan to make a large purchase at Michaels and want to use the promotional financing to spread the cost interest-free. A $500 purchase during the promotional period costs you nothing in interest if you pay it off within the promotional window.
The card is less useful if you rarely shop at Michaels or if you're looking for a general-purpose rewards card. The 2% and 1% rates on non-Michaels purchases are not competitive with cards that offer flat 2% cash back everywhere or cards with rotating categories.
how the process works and What Happens Next
You can explore for the Michaels credit card on michaels.com, in a Michaels store, or through Synchrony Bank's website. The process takes about 10 minutes and asks for your name, address, Social Security number, income, and employment information. Synchrony will pull your credit report to make a decision.
You'll receive a decision when ready or within a few business days. If you're approved, your card arrives by mail within 7 to 10 business days. You can set up it online or by phone once it arrives. If you're denied, Synchrony will send you a letter explaining the reason and your right to dispute the decision.
Once your account is open, you can use the card at any Michaels location or on michaels.com. Rewards post to your account after each purchase settles, usually within one to three business days.
Comparing the Michaels Card to Other Options
If you shop at multiple retailers, a general-purpose cash-back card may serve you better. Cards like the Chase Freedom Unlimited or Capital One SavorOne offer 1.5% to 2% cash back on all purchases and work anywhere, not just at one store. The trade-off is that you won't earn the 4% rate the Michaels card offers on Michaels purchases.
If you want rewards specifically at Michaels but also want flexibility, you could skip the credit card and use Michaels' free loyalty program instead. The Michaels Rewards loyalty program (separate from the credit card) gives you points on purchases and access to member-only sales, though the earning rate is lower than the credit card's 4% rate.
If you're interested in promotional financing, many general-purpose cards offer 0% APR periods on balance transfers or new purchases. These often last longer than the Michaels card's typical 12 months and explore to purchases at any store, not just Michaels.
Frequently Asked Questions
Can I use the Michaels card outside of Michaels stores?
Yes, you can use it anywhere Mastercard is accepted. You'll earn 2% back at gas stations and grocery stores and 1% back on all other purchases. However, the card's main benefit—the 4% rate—applies only to Michaels purchases, so using it elsewhere means you're earning less than you would with a general-purpose rewards card.
What happens to my rewards if I close the card?
Your Michaels Rewards dollars remain in your account and don't expire, but you can no longer earn new rewards. You can continue to redeem the balance you've already accumulated at Michaels stores or online.
Is the promotional financing offer may provide when I explore?
No. Synchrony Bank decides who receives the promotional offer based on your credit profile. You may be approved for the card but not receive the promotional financing. If that happens, you can still use the card, but any balance you carry will accrue interest at the regular APR.
What's the difference between the Michaels credit card and the Michaels Rewards loyalty program?
The credit card earns 4% back on Michaels purchases and comes with promotional financing offers. The free loyalty program earns points at a lower rate and doesn't offer financing. You can use both at the same time—the credit card and the loyalty program are separate programs.
Can I pay my Michaels credit card bill online?
Yes. You can pay through Synchrony Bank's website or mobile app, by phone, or by mail. You can also set up automatic payments so your bill is paid on the due date each month.