What the Michaels credit card is and who offers it
The Michaels credit card is a store card issued by Synchrony Bank that you can use at Michaels stores and online at michaels.com. Unlike a general-purpose credit card from Visa or Mastercard, a store card works only at that retailer — in this case, Michaels and its sister brands like Aaron Brothers framing stores. Synchrony Bank handles the account behind the scenes: they set the credit limit, manage your payments, and report your activity to the credit bureaus.
Store cards are designed to reward frequent shoppers at one place. The Michaels card offers discounts and special financing offers that you cannot get with a regular credit card, but only when you use it at Michaels. If you shop elsewhere, a general-purpose card might serve you better.
Key Takeaways
- The Michaels card is a store card issued by Synchrony Bank that works only at Michaels and Aaron Brothers locations.
- The card offers promotional financing (often 0% APR for a set period on purchases over a minimum amount) and member-only discounts that change throughout the year.
- Your credit score affects whether you are approved and what credit limit you receive, so checking your score beforehand helps you understand your chances.
- Every purchase and payment on the Michaels card is reported to the three major credit bureaus, so it affects your credit history whether you use it or not.
How the promotional financing offers work
The main draw of the Michaels card is promotional financing — periods when you pay no interest on purchases if you pay off the balance within a set timeframe. These offers typically require a minimum purchase amount (often $50 or $100) and last anywhere from 6 to 24 months depending on the promotion running that month. You can check current offers on the Michaels website or ask in-store before you open the account.
The catch is that if you do not pay off the full promotional balance by the end of the period, interest charges explore retroactively to the original purchase date. This means if you buy $500 worth of supplies on a 12-month 0% offer and pay it down to $50 by month 12, you owe interest on the full $500 from day one, not just the remaining $50. Read the terms carefully before you make a large purchase.
Outside of promotional periods, the card carries a standard APR (annual percentage rate) that varies based on your creditworthiness. Synchrony does not publish a fixed rate; your rate depends on your credit score and credit history at the time of approval.
What happens during the approval process
When you open a Michaels card — whether in-store or online — Synchrony pulls your credit report. This is called a hard inquiry and it temporarily lowers your credit score by a few points. Synchrony looks at your credit score, payment history, and current debt to decide whether to approve you and what credit limit to offer.
You will usually know within minutes whether you are approved. If you are approved in-store, you can use the card when ready. If you are approved online, the card arrives by mail within 7 to 10 business days, though you may be able to use it online sooner depending on Synchrony's process at that time.
If you are denied, Synchrony will send you a letter explaining the main reason — usually a low credit score, too much existing debt, or a short credit history. You can dispute inaccuracies on your credit report through the bureaus (Equifax, Experian, or TransUnion) if you believe the denial was based on wrong information.
How the card affects your credit score
Opening the Michaels card has both short-term and long-term effects on your credit. The hard inquiry drops your score slightly for a few months. The new account itself also lowers your average age of accounts, which can dip your score further in the short run.
Over time, the card can help your credit if you use it responsibly. Payment history (whether you pay on time) makes up 35% of your credit score, and a store card is just as useful as any other card for building this record. The card also affects your credit utilization — the percentage of your available credit that you are using. If you keep your balance low relative to your credit limit, this helps your score. If you max out the card, it hurts your score even if you pay on time.
Every payment and balance you carry is reported to Equifax, Experian, and TransUnion, so the card becomes part of your permanent credit history. Closing the account later does not erase this history, but it does remove the available credit from your utilization calculation, which can actually lower your score if you carry balances on other cards.
Comparing the Michaels card to other options
A store card makes sense if you shop at Michaels regularly and can take advantage of the promotional financing offers. The 0% APR periods are genuinely valuable if you need to spread out a large purchase and can pay it off before interest kicks in.
A general-purpose rewards card (Visa, Mastercard, or American Express) works everywhere and often earns cash back or points on every purchase. You might earn 1% to 5% back depending on the card and the category. The Michaels card earns no rewards on purchases outside promotional periods, so if you shop at multiple stores, a rewards card could save you more money overall.
If you are building credit from scratch or recovering from past credit problems, a store card can be easier to open than a general-purpose card because the issuer's risk is lower — they know you can only use it at one place. However, the credit-building benefit is identical: both types of cards report to the bureaus and both help your payment history if you pay on time.
What to do before you open the account
Check your credit score first. You can get a free score from your bank, from a free service like Credit Karma or NerdWallet, or by requesting your credit report from annualcreditreport.com (the official government site). Knowing your score helps you understand whether approval is likely and what APR you might receive.
Read the full terms and conditions on Synchrony's website or ask for them in-store. Pay special attention to the APR outside promotional periods, the minimum payment requirements, and the late fee amount. Late fees on store cards often run $25 to $40 per missed payment.
Decide whether you will actually use the promotional financing. If you rarely make large purchases or if you cannot commit to paying off a balance within the promotional window, the card's main benefit disappears. In that case, a rewards card or a regular credit card might serve you better.
Frequently Asked Questions
Can I use the Michaels card at other stores?
No. The Michaels card works only at Michaels stores and Aaron Brothers framing locations. You cannot use it at other retailers. If you need a card that works everywhere, you would need a Visa, Mastercard, or American Express instead.
What is the credit limit usually?
Synchrony does not publish a standard credit limit. Your limit depends on your credit score, income, and credit history. First-time cardholders often receive limits between $300 and $2,000, but this varies widely. You can request a limit increase after you have used the card responsibly for several months.
Do I have to use the promotional financing?
No. You can use the card for regular purchases at the standard APR anytime, even outside promotional periods. However, the card's main advantage is the 0% APR offers, so if you do not plan to use those, a rewards card might give you better value.
What happens if I miss a payment?
A late payment triggers a late fee (typically $25 to $40) and may cause your APR to increase. The missed payment is also reported to the credit bureaus and stays on your credit report for seven years, damaging your credit score. If you miss a promotional financing payment, you may lose the 0% offer and owe interest retroactively.
Can I pay off the promotional balance early?
Yes. Paying off the balance before the promotional period ends means you owe no interest. There is no penalty for early payment on store cards, so if you have the money to pay it off sooner, you should.