5 Things to Know About the Cub Cadet Credit Card

Cub Cadet is the maker of lawn mowers, snow blowers and other equipment for home and commercial use. The Cub Cadet credit card, a $0-annual-fee card issued by TD Bank, provides the ability to finance Cub Cadet purchases online or at authorized dealers. It can’t be used to make other purchases at those dealers (though dealers may also offer other financing options).

Here are five things to know about the Cub Cadet credit card.

» MORE: NerdWallet’s best store credit cards

1. It’s only for financing purchases at Cub Cadet

The Cub Cadet credit card’s purpose is to provide a reusable line of credit for Cub Cadet purchases through authorized dealers. Cub Cadet equipment is expensive, so the ability to pay over time can be helpful. If you're making a one-time purchase from Cub Cadet, you're likely better off with a general credit card that can be used for other purchases, too. Many credit card issuers offer the ability to pay off purchases over a series of fixed installments. » SEE: Buy now, pay later already comes standard on many credit cards

2. There are several financing options available

With the Cub Cadet credit card, there are a number of financing options depending on what you qualify for and the price of your purchase. Note that whenever any no- or low-interest promotions end, you’ll owe the standard APR on the original purchase amount (as of this writing, the standard purchase APR is 29.99%).

For online purchases, financing options include:

• 0% interest if paid in full within six months, with a minimum purchase of $199.

• 0% interest if paid in full within 12 months, with a minimum purchase of $500. This option has a $50 promotional fee.

• 0% APR for 24 months with equal payments, with a minimum purchase of $2,000. This option has a $150 promotional fee.

• 0% APR for 36 months with equal payments, with a minimum purchase of $3,000. This option has a $150 promotional fee.

• 2.99% APR for 48 months with 48 monthly payments, with a minimum purchase of $1,500. This option has a $150 promotional fee.

• 3.99% APR for 60 months with 60 monthly payments, with a minimum purchase of $1,500. This option has a $150 promotional fee.

A general credit card that offers a 0% introductory APR period may be a better bet. The Wells Fargo Reflect® Card, for example, offers 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 17.49%, 23.99%, or 29.24% Variable APR.

» BEST: 0% intro APR credit cards

3. Some financing plans charge a ‘promotional fee’

As noted above, plans with time frames of 12 months or longer charge promotional fees of $50 or $150. That might not be a dealbreaker for you, but it’s certainly an added cost to keep in mind.

4. There are no rewards or other benefits

The Cub Cadet credit card offers no sign-up bonus, ongoing rewards or other perks. Its purpose is simply to provide ways to pay for a larger purchase over time.

Again, a general credit card could be more flexible and more rewarding. The Chase Freedom Unlimited® earns 1.5% cash back on many everyday purchases (plus 3% back on dining and drugstore purchases and 5% back on travel booked through Chase), comes with a nice sign-up bonus and offers 0% intro APR on purchases and Balance Transfers for 15 months, and then the ongoing APR of 19.99%-28.74% Variable APR.

» SEE: Best rewards credit cards

5. Pre-qualify without affecting your credit score

You can see if you’d be eligible to apply for the card without impacting your credit score. If you choose to proceed with the application process, you’d then be subject to a hard credit inquiry, which can affect your score.