Your vehicle requires good-quality tires. In most instances, it makes sense to replace all four tires at once. This is a great investment, but it’s one that can require serious upfront costs.
Credit cards can make big purchases easier when necessary. Using credit cards for purchasing tires can come with several benefits. You don’t have to drain your account, and you can also qualify for additional rewards.
You should consider using your credit card, even if you have cash. Credit card use helps to boost your credit score. You can also qualify for additional rewards such as cash back or points.
Where to Get a Credit Card for Tires
You can use any credit card to purchase tires. However, a retail store card could be your best option. Many of the big-name tire suppliers offer their own line of credit.
A retail store card can be easier to qualify for. Issuers often have more flexible application requirements. This can be a great option for those with no or poor credit.
A retail store card can come with several perks. When it comes to tires, many card issuers offer a discounted rate. You may also qualify for rebates or additional rewards.
Retail store credit cards can be used elsewhere. They are usually accepted anywhere major credit cards are accepted. This allows you to make reward-qualifying purchases elsewhere besides the specific store.
What to Avoid When Using a Credit Card for Tires
Using a credit card for tires comes with a variety of perks. You can often qualify for discounts, rebates, or cashback. When used responsibly, your card can also help build your credit score.
Though using your credit card is beneficial, there are factors you want to avoid:
- Too high of a credit utilization ratio. The credit utilization ratio is the amount you could spend compared to what you’ve spent. You want to keep your credit utilization ratio as low as possible. You also need to be able to repay the purchase. On-time payments that exceed the minimum amount are ideal.
- Too many hard credit inquiries. Lenders perform a hard inquiry on your credit when you apply for a new card. It shows up on your credit report. While a retail-specific credit card can have many perks, too many accounts, and hard inquiries can hurt your credit score.
The Bottom Line When Buying Tires
Tires are an expensive but necessary purchase. Using a credit card to purchase your tires can offer several benefits. It can help build your credit and provide incentives and rewards other payment methods wouldn’t.
Retail cards can offer additional benefits. You can gain further rewards for specific purchases, such as tires. You may also save on other vehicle accessories and gas.