5 Things to Know About the Belk Credit Card

With hundreds of stores across more than 15 Southeastern states, Belk is a beloved brand among Southerners who appreciate the department store’s excellent customer service, reasonable prices, and wide selection of apparel, home goods, cosmetics, and more.

The Belk credit card, issued by Synchrony Bank, offers impressive rewards rates, ranging from 4% to 7% back in rewards, depending on your level of spending each year.

Even so, if you’re an infrequent Belk shopper — or if there’s any chance you’ll carry a balance on your Belk spending — you may be better off with general cash-back credit card such as the Citi Double Cash® Card, which earns 2% cash back on every purchase — 1% when you make it, and another 1% back when you pay it off.

Here are five things you should know about the Belk credit card.

» SEE: NerdWallet's best store credit cards

1. There are two versions of the card

With a single application for the Belk credit card, you’ll actually be considered for two versions of the card. Ultimately, the card you’re offered will depend on your financial record and credit scores. These are the two cards you’ll be considered for:

• The Belk Rewards+ card is a “closed-loop” credit card, meaning it can be used to make purchases only inside Belk stores and salons, as well as on Belk.com.

• The Belk Rewards+ Mastercard is an “open-loop” credit card, meaning you can use it anywhere Mastercards are accepted. 

Both cards offer the same in-store earnings and benefits, but the Belk Rewards+ Mastercard offers rewards on eligible purchases outside of Belk — more on that below.

» MORE: Why is it easier to get a store credit card than a regular one?

2. Big spenders earn rewards at higher rates

Like most store cards, the Belk credit card is designed to reward brand loyalists, offering elevated rewards when you spend more on the card at Belk. Here’s how much you’ll earn at each spending tier, regardless of which version of the Belk card you have:

• Spend $299.99 or less per calendar year on the card at Belk: You reach Belk's "Insider" tier, and your card earns 4 points per $1 spent at Belk, equivalent to 4% back in store rewards.

• Spend between $300 and $999 on the card in a calendar year at Belk: You hit the "Premier" level, and your card earns 5 points per $1 spent at Belk, equivalent to 5% back in store rewards.

• Spend $1,000 or more in a calendar year at Belk: You reach "Elite" status, and your card earns 7 points per $1 spent at Belk, equivalent to 7% back in store rewards.

Beyond that, the open-loop Belk Rewards+ Mastercard version also offers 2 points per $1 spent on gas and grocery purchases, along with 1 point per $1 spent on all other non-Belk purchases.

With either card, once you reach the spending threshold for a new status tier at Belk, you’ll start earning rewards at that status beginning with the next billing cycle, and you can maintain that status until the end of the following year. If, for example, you earned Elite status in September 2023, you would keep that status until Dec. 31, 2024.

Note, however, that qualifying purchases necessary to reach a status tier will reset each January. So in the example above, while you'd enjoy Elite status until the end of 2024, your purchases from October to December 2023 wouldn't count toward your status in 2025.

» MORE: What makes a good store credit card, and how to avoid bad ones

3. Rewards can’t be saved for a big splurge

This is another area where the Belk credit card isn't the best deal for just occasional visitors. Each time you earn 500 points through your Belk credit card, those points are automatically converted to a certificate for $5 in Belk Rewards Dollars. Certificates are sent via email or through your paper credit card statement and typically expire within 90 days of issuance.

You can apply up to $200 in Belk Rewards Dollars to a single transaction. But with such a short expiration window, all but the most frequent Belk shoppers may struggle to save up rewards for a significant purchase.

To help maximize savings, you can stack Belk Rewards Dollars with the store’s frequent online, in-app and paper coupons.

» MORE: How to make the most of rewards credit cards

4. Financing plans are available, but they come with terms

As of this writing, the Belk credit card offers a variety of financing plans to help shoppers spread the cost of large purchases over time:

• The Table Top Special Payment Plan can be applied to Conn's x Belk purchases or guild products (including china, crystal, silver and table linens) with an initial purchase of $300.

• The Fine Jewelry Special Payment Plan is available with an initial in-store purchase of $500 or more on eligible fine jewelry. Once established, the plan can also be applied to future in-store fine jewelry purchases of $150 or more.

• The Belk Rewards+ Flex Pay Plan is available upon request for Premier and Elite level cardholders. Once activated, this plan is automatically applied to all purchase types until cardholders request to cancel Flex Pay. 

These options function much like some buy now, pay later plans. They allow you to finance a Belk purchase on your card without interest — as long as you pay the agreed-upon minimum amount each month under the terms of the plan. If you don't meet these requirements, you may be subject to interest or late fees.

Also, note that purchases made with these financing plans don’t earn rewards, nor do they count toward your Rewards+ status for future calendar years. So if you need to finance a large Belk purchase over time, you might be better off with a traditional 0% intro APR credit card.

» MORE: Buy now, pay later vs. credit cards: Which is right for you?

5. You won’t want to carry a balance

As of September 2023, both the Belk Rewards+ credit card and the Belk Rewards+ Mastercard carry a variable APR approaching 30%. That’s not an uncommon figure among store credit cards, but it is higher than average.

That means to actually save money through the Belk credit card’s elevated rewards, it’s essential that you pay your balance in full each month. If you don’t, chances are high that the interest you accrue on the card will outweigh any rewards you‘ve earned.