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The Children’s Place My Place Rewards Credit Card Review

The Children’s Place My Place Rewards Credit Card Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Sep 20, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

The My Place Rewards Credit Card from The Children’s Place is a good choice for both frequent and infrequent Children’s Place consumers. There’s a $0 annual fee, rewards program, and free standard shipping — so whether you’re buying apparel for your kids or simply as a gift for someone else’s children, you can benefit from this simple to use card.

Keep in mind, this is a store card — that means it can only be used at The Children’s Place. But if you’re looking to maximize rewards on purchases at the store, this is a solid card.

In this review, we’ll break down who should consider applying for a My Place Rewards Credit Card, the benefits of having a card and alternative cards for apparel shopping.

Who a My Place Rewards Credit Card is best for

If you’re looking to be rewarded for apparel you buy at The Children’s Place for the kids in your life, the My Place Rewards Credit Card can help you earn rewards at a rate unmatched by general-purpose credit cards that can earn you up to 5% cash back for three months with a quarterly limit.

The Children’s Place shoppers who should avoid this card include those who are prone to debt and tend to carry a balance month-to-month — there’s a high 27.74% variable APR.

Rewards breakdown

The My Place Rewards Credit Card offers an average rewards rate where you earn 2 points per dollar spent. However, the rewards rate is an effective 10%, since you receive a $5 reward for every 100 points earned. To break it down, if you spend $50, you’ll earn 100 points and therefore a $5 reward. Divide the $5 reward by the $50 spent and then multiply that by 100 to receive the effective 10% rewards rate. Compare that to a cashback card that earns 2% on all purchases, and you’ll only receive $1 in cash back for $50 of spending ($50 x .02).

The My Place Rewards Credit Card rewards is double what the free My Place Rewards program offers (1 point per $1 spent). And, you’ll still earn more rewards with a My Place Rewards Credit Card compared with the general-purpose cards mentioned in the alternatives section below and a My Place Rewards membership.

This card also has a great new cardmember offer where you can receive 30% off your first purchase with your card.

Where the My Place Rewards Credit Card stands out among store cards

The My Place Rewards Credit Card may allow you to pre-screen (aka prequalify) for the card. This option may be available during checkout. If you’ve received a pre-screen code, click on “APPLY OR ACCEPT OFFER” on the credit card landing page and provide your code in the designated field.

If you have less than stellar credit, prequalification is a very helpful feature that can minimize negative effects to your credit. Prequalification allows you to check if you may be approved for a card with a soft credit pull. This does not harm your credit score. Just beware that if you choose to apply for the card, a hard credit pull will be performed.

Where the My Place Rewards Credit Card falls short among store cards

The main drawback of the My Place Rewards Credit Card is the high 27.74% variable APR. If you carry a balance month-to-month, this can become an issue since you’ll incur high interest charges which may lead you to fall into debt. However, if you pay your bill on time and in full each month — which we always recommend doing — this won’t be an issue.

Alternatives

Flat-rate

The Citi® Double Cash Card – 18 month BT offer is our top pick for a flat-rate cashback card since cardholders can earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. Compared to other cards that may offer as low as 1% cash back on everyday purchases, that’s a great rate. Plus, there’s a $0 annual fee.

  • Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

  • 0% for 18 months on Balance Transfers

  • 15.49% - 25.49% (Variable)

Highlights
  • Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.49% – 25.49%, based on your creditworthiness.
  • Balance Transfers do not earn cash back.
  • The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.

See additional details for Citi® Double Cash Card – 18 month BT offer

More Info

Bonus 5%

A cashback card that offers rotating 5% cashback categories which can include department stores for one quarter of the year — typically around the holiday months — can be a good alternative for kids’ apparel purchases. Keep in mind, while these cards can provide you a high 5% cashback rate on eligible purchases, you’ll need to activate the bonus categories each quarter. Plus, the 5% cashback rate is often limited to $1,500 of spending a quarter before the cashback rate drops to 1%.

Here are two of our favorite rotating 5% cashback cards:

  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*

  • Earn 5% cash back at different places each quarter up to the quarterly maximum, when you activate*

  • Any amount, any time. Cash back rewards never expire*

Highlights
  • INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

  • Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.

  • 0% Intro APR on purchases and balance transfers for 15 months

  • 16.74% - 25.49% Variable

Highlights
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.74-25.49%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5.
  • No annual fee
  • Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
  • Free credit score, updated weekly with Credit JourneySM

See additional details for Chase Freedom®

More Info

Bottom line

If you’re looking to earn rewards on purchases made at The Children’s Place, the My Place Rewards Credit Card can earn you the highest rate at an effective 10%, compared to other general-purpose cards that may earn you up to 5% for three months a year. You can also benefit from convenient free standard shipping and 25% off for your kid’s birthdays.

Overall, this card is a solid offering, but if you’re a consumer who typically carries a balance month-to-month or doesn’t shop at The Children’s Place, you should check out the alternative cards mentioned earlier. Those cards can provide wider use and lower interest rates than the My Place Rewards Credit Card.


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