Last updated on July 3rd, 2023
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True Value Discover®
True Value Discover®
- 15.74%, 21.74%, 26.74% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 27.99% variable based on the Prime Rate Balance Transfer APR
- 27.99% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 3% back on True Value and Home & Garden Showplace purchases
- 2% back on gas and groceries
- 1% back for all other purchases
- $5 voucher every cardholder anniversary
- Lowest purchase price guarantee
- 24/7 roadside assistance
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 15.74%, 21.74%, 26.74% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 27.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: $10 or 3% of the amount of the balance transfer, whichever is greater
- Cash Advance APR: 27.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: $10 or 3% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $38
- Return Payment Penalty Fee: Up to $38
At a Glance
Save on your next home improvement project and earn 3% back on purchases from your local hardware store with the True Value Discover® card. Enjoy no-interest for 6 months on purchases of $299 and up as well as a $5 voucher every year as an anniversary bonus.
Ideal for Those Who:
- Have an upcoming home renovation or home repair project that can be paid off in 6 months
- Spend over $33,333 at True Value at least every two years
- Want a card with no annual fee
True Value Discover Review
The True Value Discover® card is offered by Comenity Bank and has no annual fee. Cardholders can fulfill their hardware needs while earning modest rewards for True Value purchases and equally modest savings at checkout. Although there is no signup bonus, the True Value Discover® card offers special interest-free financing for 6 months, making it an acceptable (although quite unremarkable) rewards card option for DIY home repair or improvement projects.
In order to take advantage of the special financing, purchases must be a minimum of $299 and paid in full within the 6 months in order for it to remain interest-free. Failing to meet this deadline will result in the regular purchase APR being retroactively applied. For this reason, the True Value Discover card may not be the best option for large-scale remodeling projects. Instead, use the True Value credit card to fund smaller projects that can be paid in full within 6 months.
The True Value Discover credit card allows cardholders to earn points beyond 3% in points on hardware purchases with 2% back on gas and groceries, and 1% for all other purchases. The minimum number of points needed for redemption is 1,000, equivalent to a $10 voucher (each point being worth $0.01). Despite the additional bonuses for popular spending categories gas and groceries, the earning capabilities of the True Value credit card are weak and put the primary value of the card is for the special financing.
Should You Apply for True Value Discover Card?
The casual hardware shopper will find themselves hard-pressed to earn enough points for even the smallest redemption amount – requiring a spend of $33,333 to earn enough points for the $10 voucher. In comparison to the Bank of America® Cash Rewards Credit Card which provides 3% in cash back for home improvement and furnishings, spending that same amount could generate $1000 that could be put back in the cardholder’s pocket.
Although the True Value Discover® also offers a meager $5 voucher by means as an anniversary bonus, the verdict is clear: The True Value credit card requires too high of spend for the average homeowner to justify applying for it. Contractors, home remodeling professionals, or other types of handymen might be able to meet this unreasonably high spend – but even so, there are hardware stores with much more competitive financing and APR.