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This article was last updated May 21, 2012, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.
GoodYear is one of the main name brands of tires in the United States. Everyone recognizes the blue and yellow, whether you are driving down the street and see it on your way home from work or you are watching NASCAR you'll likely see their logo. But is their credit card as notable as their easily recognizable logo and color scheme?
Up Front $80 GoodYear Savings
GoodYear is currently offering a promotion where they rebate you up to $80 when purchasing a new set of their tires. However, when using your GoodYear Credit Card they will double that rebate on a set of new tires, bringing their offer up to $160. Other than that, there isn't a lot of reasons to get excited to use the card.
GoodYear swears by "convenience" in all of their promotional efforts. They start by allowing you to link your GoodYear Credit Card to your checking account so you can make payments using your GoodYear Credit Card and your checking account will automatically be debited. In addition, they also offer a 25 day grace period where no interest generates after a purchase. This is pretty typical of all credit cards, but it is strange that they promote it as being such a perk.
Awful Pricing Structure
There is no annual fee to use the GoodYear Credit Card, but like most store credit cards, there is a very high interest rate charged to the card, as gaining approval is much easier (and therefore, riskier to the bank). With a 28.99% variable interest rate, the GoodYear Credit Card should be paid off monthly to maximize the benefit (only one) of the card, otherwise, this card becomes a BIG money loser. An interest rate that high is one of the highest you'll see on the market for any card.
I wish I had more good news to write for you, but the GoodYear Credit Card is one of the worst cards you'll see today. 28.99% is an insanely high interest rate and anyone that considers the GoodYear Credit Card needs to sit down and do a cost benefit analysis. Current credit card offerings offer excellent rewards programs as well as big up front bonuses, excellent perks and a solid pricing structure. The only benefit you'll find here is $80 on a full set of tires.
For those that own the GoodYear Credit Card, use it only when you buy a full set of tires. For everyone else, STAY AWAY!
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.