The 411 on the J.C. Penny Credit Card: A Store Credit Card Worth Checking Out:Identity Theft Blog at Identity Theft Secrets

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The 411 on the J.C. Penny Credit Card: A Store Credit Card Worth Checking Out

The J.C. Penney credit card is a store-specific card created for use at J.C. Penney retail stores and at the online J.C. Penney store. Many consumers don't realize that you can also use your J.C. Penny credit card at CVS Pharmacy and Eckerd Pharmacy. These options are fairly new. Find out what else you may not know about the J.C. Penny credit card.

The J.C. Penny credit card is fairly easy to obtain. So if you can be disciplined about your spending, it can be a good first credit card to obtain to build or rebuild a positive credit score by making monthly payments on time.

The J.C. Penny stores do offer a variety of goods from clothing, shoes, house wares, home décor, beauty, jewelry and more.

Generally whether you shop or apply for a J.C. Penny credit card in store or online you will be offered an incentive deal for a percentage off of your first purchase.

J.C. Penny credit card fees: There's good news and bad news.

Finance charges on this credit card are high, with a going rate that presently stands at 21 percent annually. There is no annual fee, but J.C. Penney will charge you a late fee if the payment is not received in a timely manner. There is also the possibility of having your credit limit reduced if any payment is received late.

J.C. Penny credit card customer service: This one is a plus.

J.C. Penney offers continuous support for its credit card customers. You can logon to jcpenney.com at any time and view your account information, make payments or ask questions. There's also a support line, 800-527-4403, available between the hours 7am and 8pm Eastern Time, Monday through Friday; 8am to 8pm on Saturday; and 10am to 4pm on Sunday.

J.C. Penny credit card Pros:

Can be used in store or online
Can be used at CVS and Eckerd Pharmacies as well
Most malls have a J.C. Penny anchor store
Takes minutes to apply
Easy monthly payment schedule
Friendly customer service
Good discount incentives
No annual fee

J.C. Penny credit card Cons:

Higher interest rates
Limited usability
Watch out for lack of usage fees

Are low, low monthly minimum payments a good thing or a bad thing?

The J.C. Penny credit card offers very low monthly payments that are usually just a fraction of the balance. While this can be an occasional financial lifesaver, in general with the high interest rate of this card, it would not be financially savvy to pay just the low monthly payment each month.

Is the J.C. Penny credit card a good idea?

For some people the answer is yes. In general it is best to avoid store credit cards because of the high interest rates. The J.C. Penny credit card is more attractive than most store credit cards because of the no annual fee and incentives. However, you'll need to pay off the credit card right away for the deals to really be deals. One financial analyst says get the J.C. Penny credit card, use the incentives, pay it off the first month on time and cancel it to avoid lack of usage fees. The J.C. Penny credit card is also a reasonable choice for those with no credit or bad credit to build up their credit score.