Ashcroft & Oak Jewelers is a jewelry store owned by Rogers Enterprises, who also owns Rogers & Hollands Jewelers. They offer a department store credit card that can be used at Ashcroft & Oak Jewelers and at Rogers & Hollands Jewelers as well.
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Even though this is a department store credit card, Rogers Enterprise is still bound by the Federal Reserve Credit Card Rules. These rules protect you from excessive fees and unexpected changes in your credit terms.
Rogers Enterprises Ashcroft & Oak Credit Card Terms
Much like many other department store credit cards, the Ashcroft & Oak credit card has a much higher interest rate than you will find with traditional credit cards. What’s more, this higher rate applies even to those of you with impeccable credit, which is why you should consider other options before choosing a department store credit card.
The starting APR for the Ashcroft & Oak credit card is 18%. However, the APR will not exceed 24%, unless the terms of the credit card change. Rogers does state that it may change the terms at any time, but you will receive a notice 45 days prior to that change taking effect.
In addition, there is a maintenance fee to maintain this credit card account for as long as you carry a balance on your credit card. The fee is $1.99 a month.
Lastly, Rogers Enterprise will run your credit every six months to continually check your creditworthiness. If your credit score decreases, the company may choose to close your credit card account. If it improves, it may choose to increase your credit line.
Rogers Enterprises Ashcroft & Oak Credit Card Benefits
Truthfully, there aren’t a lot of benefits to choosing this particular credit card.
The high interest rates should be a deterrent to anyone who plans to carry a balance.
What’s more, if you hit a bump in the road with your credit, you may find that your account will be cancelled, which can negatively affect your credit.
Rogers Enterprises Ashcroft & Oak Credit Card Verdict
While department store credit cards can be easier to get than traditional credit cards, they often come with too much baggage, such as high APRs. Additionally, you can only use them at their designated stores. You should consider your other options prior to choosing this credit card.
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