Michaels Credit Card Review: Rewards, Fees & Benefits

Rewards

Category	Rate	Type	Cap
Online Shopping Net Eligible Purchases made at Michaels stores or online at Michaels.com	9x	Points	No cap
All Other Purchases Net Eligible Purchases made everywhere else Visa credit cards are accepted	1x	Points	No cap

Benefits & Protections

Benefit	Category	Value / Coverage
Online Account Management Securely manage your account online, view statements, track rewards, and make payments at your convenience.	Lifestyle	Convenient online account access
Michaels Rewards Points Earning Earn rewards points on eligible purchases made at Michaels stores and michaels.com. These points can be redeemed for discounts on future Michaels purchases.	Rewards	Earn points on Michaels purchases
Zero Fraud Liability You are protected against unauthorized charges made with your Michaels Credit Card. You will not be held responsible for fraudulent activity.	Security	Protection against unauthorized charges
Cardmember Exclusive Offers Access to special promotions, sales, and exclusive discounts available only to Michaels Credit Cardholders.	Shopping	Access to exclusive discounts and promotions
New Cardmember First Purchase Discount Receive a special discount or promotional offer on your first purchase made with your new Michaels Credit Card.	Shopping	Discount on first purchase

Interest Rates

Purchase APR29.99%–32.99% Variable

Balance Transfer APR29.99%

Cash Advance APR34.99%

Min. Interest Charge$2

Deferred Interest Warning: Interest will be charged to your Account from the purchase date if the promotional purchase is not paid in full within 6 or 12 Months. Minimum monthly payments are required. See your credit card agreement for more details.

Fees

Annual Fee $0 — No Annual Fee

Authorized User FeeFree

Foreign Transaction FeeNone

Balance Transfer FeeEither $10 or 5% of the amount of each transfer, whichever is greater.

Cash Advance FeeEither $10 or 5% of the amount of each cash advance, whichever is greater.

Late Payment FeeUp to $41

Returned Payment FeeUp to $41

Approval & Eligibility

600 Recommended minimum FICO · Range 600–700

300 Poor580 Fair 670 Good740 Very Good 800+ Exceptional

Approval DifficultyModerate

Credit ProfileFair

Approval OddsGood

Decision TimeInstant

Pre-QualificationNot available

Co-ApplicantNot allowed

Business EligibleNo

Issuer Rules & Restrictions

Maximum Cards per Issuer

You can hold up to 5 cards from this issuer simultaneously.

Shutdown Risk Triggers

Common triggers for account shutdown or adverse action by American Express include manufactured spending (e.g., excessive gift card purchases, reselling), exceeding a high cumulative credit limit across all Amex cards, frequent or rapid applications for new cards without sufficient spending, abuse of welcome bonuses or promotional offers, credit cycling, suspicious spending patterns inconsistent with historical behavior, and failure to pay.

Cliff Effect Rules

American Express has 'family rules' where applying for or holding certain cards within a product family (e.g., different versions of the Platinum or Gold card) may make you ineligible for the welcome bonus on another related card. While less common for co-branded store cards like Michaels, it's important to be aware of potential bonus eligibility restrictions if other Michaels-branded Amex cards were to exist or if the card is considered part of a broader Amex product family for bonus purposes.

International Friendly

May have limitations for international use.

Additional Issuer Rules

American Express generally applies a 'Once per Lifetime' rule for welcome bonuses, meaning you can typically only receive one welcome bonus per specific card product in your lifetime. For the Michaels Credit Card, this means if you've ever received a welcome bonus for this exact card, you are ineligible for another. Additionally, American Express has an application rule limiting approvals to a maximum of 2 credit cards within any 90-day period. Eligibility requirements for American Express cards typically include being at least 18 years old, having a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), being a U.S. resident, and possessing a good to excellent credit score.

Michaels Credit Card