Love getting lost in the yarn aisle? If you shop at Michaels often, the store credit card promises 9% back on every craft haul. That is a high reward rate, but a store credit card like this comes with trade-offs worth understanding before you sign up.
This guide breaks down how the Michaels Credit Card works, who tends to get approved, and the fine print most people miss. If your main goal is building credit, we will also point you to a few cards that may stretch further.
What Is the Michaels Credit Card?
The Michaels Credit Card is a store card issued by Comenity Bank, part of Bread Financial. It is what is known as a closed-loop card, which means it only works inside Michaels stores and on Michaels.com.
There is no Visa or Mastercard logo on it, so you cannot use it for gas, groceries, or anywhere else. Think of it as a loyalty tool for one specific store rather than an everyday card.
How the Rewards Work
As of June 2026, the card earns 9% back in rewards on purchases at Michaels, both in store and online. That rate is high compared to most general cash-back cards.
Rewards are issued as vouchers once you reach a $5 threshold, usually within 72 hours. The vouchers appear in your account or the Michaels app, and you get an email when they are ready.
There is a catch. Each rewards voucher expires 32 days after it is issued, so you cannot stockpile them for a big purchase. Rewards also exclude taxes, gift cards, shipping fees, and some third-party items, with a daily cap on how much you can earn.
Who Can Get Approved?
Store cards like the Michaels Credit Card are often easier to qualify for than premium travel cards. Many applicants with fair credit are approved, though approval is never guaranteed and depends on your full credit profile.
Applying triggers a hard inquiry, which can dip your score by a few points. If you have no credit history at all, you may still face a denial, since the issuer wants to see some track record.
Terms and conditions apply, and APRs vary by creditworthiness. Store cards typically carry higher interest rates, and understanding what APR means on a credit card helps, since carrying a balance can quickly erase the value of any rewards you earn.
The Trade-Offs to Weigh
The biggest limitation is that the card only works at one store. That makes it hard to build a broad credit history, since you can only use it for craft purchases.
The short reward expiration is another drawback. If you are not a frequent shopper, those 32-day vouchers may expire before you can use them.
Finally, a single-store card does little to help you handle everyday expenses or emergencies. For most people focused on credit, a card you can use anywhere is more useful.
Cards That May Build Credit Further
If your real goal is building a credit history you can use everywhere, an unsecured card with no deposit may serve you better than a store card. If you are just starting out, learning how to build credit at 18 can help you choose wisely. These cards report to the major credit bureaus and work anywhere their network is accepted.
The Aspire Mastercard is an unsecured option with no security deposit, designed for people working on fair credit. Because it runs on the Mastercard network, you can use it well beyond a single store.
Aspire® Cash Back Rewards Mastercard
Aspire® Cash Back Rewards Mastercard
Aspire® Cash Back Rewards Mastercard. Prequalify* For Up To $1000 Credit Limit. No security deposit. Packed with great benefits, it’s designed to give you more flexibility—and purchasing power—along with up to 3% cash back rewards!** Good anywhere Mastercard is accepted, it’s the go-to card for any lifestyle.
Standout feature
Up to 3% cashback rewards
Fees
$49 to $175; after that $0 to $49 annually; - $60 to $159 annually billed at $5 to $12.50 per month after the first year.
Pros
No Deposit Required. Prequalify for up to $1000 credit limit
Cons
High APR. 25.74% to 36%, based on your creditworthiness.
The Perpay Credit Card is another unsecured card built around steady, manageable payments, which can help you establish positive history. For a structured savings-and-credit approach, the Self Visa® Credit Card pairs a credit builder account with a card once you save enough. Some people prefer to start with a secured credit card, which uses a refundable deposit to set your limit.
Whichever route you choose, pairing it with credit monitoring helps you watch your progress. A tool like Creditship.ai can help you track your score as your history grows.
Perpay Credit Card
Perpay Credit Card
Meet the only card powered by your paycheck. With automatic transfers from your paycheck, you can manage payments stress-free and build credit with ease.
Fee
$9/month plus $9 account opening fee
APR
Marketplace: 0% / Credit Card: 27.74% to 29.99% depending on your creditworthiness.
Minimum Deposit Amount
$0
Credit Check
No
Cashback
2% reward on purchases made in Perpay Marketplace
Benefit
2% rewards, no security deposit
Tips for Using a Store Card Wisely
If you do open the Michaels Credit Card, treat it like a budgeting tool, not a license to overspend. Only charge what you can pay off in full each month.
Pay on Time, Every Time
Late payments can hurt your credit and trigger fees. Setting up autopay for at least the minimum payment can help you stay on track.
Keep Balances Low
Using a small share of your credit limit, often called your credit utilization, can support a healthier score over time. Try to keep balances well below your limit when you can.
Next Steps
The Michaels Credit Card can reward dedicated crafters, but it is a narrow tool that only works at one store. Before applying, ask whether a single-store card truly fits your goals.
If building credit you can use anywhere matters more, an unsecured starter card and a monitoring tool may take you further. Compare your options, read the terms carefully, and pick the path that fits your budget and your bigger financial picture.
Frequently Asked Questions
Can I use the Michaels Credit Card anywhere besides Michaels?
No. The Michaels Credit Card is a closed-loop store card, so it only works inside Michaels stores and on Michaels.com. It has no Visa or Mastercard logo, which means you cannot use it for everyday purchases elsewhere.
Does the Michaels Credit Card help build credit?
It can, because the issuer typically reports your activity to the credit bureaus. However, since you can only use it at one store, it builds a narrower history than a card you can use everywhere. A general-purpose card may help you build credit faster.
What credit score do I need for the Michaels Credit Card?
There is no published minimum, but store cards like this are often available to applicants with fair credit. Approval is never guaranteed and depends on your full credit profile. Terms and conditions apply.
What are good alternatives to the Michaels Credit Card?
If you want a card you can use anywhere, unsecured options like the Aspire Mastercard or the Perpay Credit Card may help you build broader credit with no deposit. The Self Visa® Credit Card is another option that pairs saving with credit building. Pairing any card with a monitoring tool like Creditship can help you track progress.
