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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% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. 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.

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:

  • Intro APR of 0% for 14 months on purchases and Balance Transfers, then 11.99% - 22.99% Variable.

  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically. *

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

Highlights
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back in 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

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.

The information related to the Chase Freedom® has been independently collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication.


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