If you’re in the market for new tires, you might be considering commercial tire financing to spread out the cost of the purchase. However, this may be difficult to do if your credit score isn’t where you want it to be.
Luckily, some tire credit cards are more accessible to those with less-than-stellar credit. Let’s explore tire credit cards, their benefits, and how to get the best tire financing possible.
What Is a Tire Credit Card?
A tire credit card is a type of payment card designed to help you pay for tires and related automotive services.
With this type of credit card, you can easily purchase new tires, get regular tire maintenance, and make other vehicle-related purchases. Instead of paying for everything up front, you can make smaller monthly payments over time.
The Easiest Card to Get Isn’t Always the Best
The Discount Tire credit card is one of the easiest to get. In fact, it’s one of the major reasons why Discount Tire is so popular, which we explain in our post on when Discount Tire financing is good.
Unfortunately, many people regret their decision to get this credit card due to a high-interest rate, poor customer service, and a lack of rewards or cash back. This is why if you have a poor credit score, we recommend financing with Cheap Tires ASAP. Many people believe it is the best option out there. To streamline the application process, we partnered with Katapult in order to offer tire financing without any credit checks.
Benefits of Using Tire Credit Cards
Here are some reasons why it’s a good idea to use a tire credit card:
More Financing Options
Tire credit cards often come with financing options that allow you to make purchases with 0% interest or low-interest rates. This can be helpful if you don’t have the cash upfront to pay for a new set of tires. For instance, Cheap Tires ASAP offers tire financing from 0% to 36% APR depending on your credit score and the type of tires you’re looking for.
Reward Programs
Some tire credit cards offer rewards programs that allow you to earn cash back or points for every purchase. This can be a great way to save money on future tire purchases or other expenses.
Increased Convenience
A tire credit card can make it easier to finance necessary tire purchases without having to dip into your savings or emergency funds.
For example, you can access a revolving line of credit dedicated to tire purchases, allowing you to make necessary tire purchases when you need them. This means you don’t have to wait until you have the cash in hand.
Factors to Consider When Choosing a Tire Credit Card
When looking for a tire credit card, it’s essential to consider these five factors to ensure you choose the right one for your needs:
- Interest rates: Look for a card with a low-interest rate because it’ll help keep your payments manageable.
- Credit score requirements: Some tire credit cards require a higher credit score than others. If your credit score is less than ideal, look for cards with more relaxed credit requirements.
- Rewards programs: Some tire credit cards offer rewards programs that allow you to earn points or cash back on your purchases.
- Fees: Read the fine print and check for any annual fees, late payment fees, or other charges that may apply and under what circumstances they get triggered. These fees can quickly add up and eat into any savings you may have stashed away.
- Financing options: Consider whether the card offers financing options that fit your budget and needs. Some cards may offer promotional timeframes or flexible payment options, while others may not.
How to Get a Tire Credit Card?
To get a tire credit card, you typically need to follow these steps:
- Check your credit score: Before applying for a tire credit card, check your credit score. Many tire credit cards require a minimum credit score between 600 and 650, so make sure yours is in good shape and you qualify.
- Apply online or in-store: Once you find a tire credit card that fits your needs, you can apply online or in-store.
- Submit your application: Fill out the application form with your personal and financial information, and submit it. You may receive an instant decision or have to wait for the approval.
- Receive your card: If your application is approved, you’ll receive your tire credit card in the mail. You can then use it to make tire purchases and take advantage of any rewards programs or special financing offers.
Final Thoughts
Tire credit cards help you finance tire purchases and save money with no-interest financing options, rewards points, and cash back. Plus, they can be a real lifesaver when you need new tires but don’t have extra cash to spend.
Once you get your card in hand, check out Cheap Tires ASAP if you’re looking for new tires. We have a massive selection of tires at competitive prices and offer a no-credit-check financing option if you’re concerned about your credit rating!