Facing a big repair bill at Midas and thinking about the store card to spread out the cost? The Midas credit card offers promotional financing on auto service, but the APR is among the highest you will find anywhere. This review covers the Midas credit card's APR, fees, and financing terms in plain English, with every rate verified against the card's official Comenity Capital Bank agreement and Schumer Box.
Key Facts at a Glance
| Issuer | Comenity Capital Bank (Bread Financial) |
| Network | Store-only (participating Midas locations) |
| Annual fee | $0 |
| Purchase APR | 35.99% variable |
| Penalty APR | Up to 39.99% variable after a late payment |
| Financing | Deferred-interest plans of 6, 12, 18, or 24 months; 2% promotional plan fee |
| Rewards | None |
| Welcome bonus | None |
| Credit limit | Not published; reported average around $2,355 |
| Credit score | Typically good or better (reported averages near 669) |
| Reports to | Experian, TransUnion, Equifax |
What Is the Midas Credit Card?
The Midas credit card is a store-only (closed-loop) card issued by Comenity Capital Bank, part of Bread Financial. It can only be used at participating Midas locations for auto repair, tires, oil changes, and related service. It is not a general-purpose card you can use elsewhere, it pays no rewards, and there is no welcome bonus.
The main draw is promotional financing on larger repairs. If you want a card you can use anywhere or one designed to build credit, this is not it.
Midas Credit Card APR
As of June 2026, the Midas credit card has a purchase APR of 35.99% variable, with a penalty APR of up to 39.99% variable that can apply after a late payment, according to the Comenity Schumer Box. There is also a minimum interest charge: if you are charged interest, it will be no less than $3.00 in any billing period. The card does not offer a standard 0% intro APR; its 0%-interest deferred plans are described below.
That 35.99% APR is roughly double the average credit card interest rate. It is a number you want to respect, because it is what applies to any balance you do not pay off, including a promotional balance that runs past its window.
Midas Credit Card Fees
The Midas credit card has no annual fee and no monthly or maintenance fee, but other costs show up in the agreement:
Fees to watch
- Annual fee: $0. Monthly/maintenance fee: none.
- Minimum interest charge: no less than $3.00 when interest applies.
- Late payment fee: up to $41.
- Returned payment fee: up to $41.
- Paper statement fee: up to $35.88 per year ($2.99 each month your balance is greater than $3.50 and a paper statement is mailed).
- Promotional plan fee: 2% of the promotional plan purchase.
These figures come directly from the card's current Schumer Box. Fees can change, so confirm the latest terms before you sign.
How Does the Midas Financing Work?
The card's headline feature is deferred-interest financing: no interest if you pay the full promotional balance within 6, 12, 18, or 24 months, depending on the plan. The catch is the word deferred.
If you do not pay the entire promotional balance in time, interest is charged back to the original purchase date at the 35.99% APR. There is also a 2% promotional plan fee on the purchase. Minimum payments alone are not guaranteed to clear the promo balance before the window closes, so you may need to pay more than the minimum. The financing only helps if you are confident you can pay the balance in full before the promo ends.
Approval, Credit Limit, and Bureaus
Comenity does not publish a minimum score or fixed limit for the Midas card. Community data points reported by sites like WalletHub suggest approvals skew toward good credit, with average reported scores near 669 and reported credit limits averaging around $2,355, though individual results vary with your full profile and income. Comenity reports to all three major bureaus (Experian, TransUnion, and Equifax), so the account can affect your credit, but the card is not designed as a credit-building tool.
Who Should Consider the Midas Credit Card?
The Midas credit card makes the most sense for someone facing a large, unexpected repair who can realistically pay it off within the promotional window. The minor perks, like a discount on oil changes, are extras rather than reasons to apply.
It makes far less sense if you are building credit or worried about that high APR. The card is locked to Midas, pays no rewards, and turns any lingering balance into an expensive one. For building credit, an unsecured card with a lower rate and broader use is a safer foundation. If you want to start building without a store-only card, the Aspire Cash Back Rewards Mastercard is an unsecured card with no security deposit, prequalification up to a $1,000 limit, up to 3% cash back, and reports to all three bureaus.
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.
You can learn more or apply through the Aspire Cash Back Rewards Mastercard.
If you would rather build credit from everyday spending without a deposit, Perpay is powered by your paycheck — no security deposit, shop and pay over time while it reports to all three bureaus, members see an average 32-point increase.
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
Compare it through Perpay. For many people with no or low credit, an unsecured starter card is a smarter first move than a single-store financing card, and it keeps your costs well below a 35.99% APR. For example, the Arro Card is an unsecured starter card with no deposit and no hard credit check; start with a limit up to $300 that grows toward $2,500 via in-app tasks, reports to all three bureaus. You can track your score for free with tools like Creditship.ai. Firstcard can help you compare credit-building options in plain English.
Arro Card
Arro Card
No deposit. No hard credit check. Start with up to $300 and grow your credit line to $2,500 by completing in-app tasks. Earn 1% cash back on gas and groceries — including Walmart and Target.
Standout feature
Unsecured — no deposit required
Fees
up to $60/ year
Pros
1% cash back on gas & groceries
Cons
Starting credit limit: $50–$300
Apply or learn more through the Arro Card.
Is the Midas Credit Card Worth It?
For a one-time large repair you can pay off inside the promo window, the financing can help you avoid interest, as long as you understand the deferred-interest rule. For everyday use or credit building, the 35.99% APR, 39.99% penalty rate, and deferred-interest risk make it hard to recommend. If your real goal is stronger credit, one of the alternatives above will likely cost you less and do more.
Frequently Asked Questions
What is the APR on the Midas credit card?
As of June 2026, the Midas credit card has a 35.99% variable purchase APR, with a penalty APR of up to 39.99% that can apply after a late payment, per the Comenity Schumer Box. A minimum interest charge of $3.00 applies in any billing period where interest is due. There is no standard 0% intro APR.
Can I use the Midas credit card anywhere?
No. The Midas credit card is a store-only card issued by Comenity Capital Bank and can only be used at participating Midas locations. If you want a card you can use anywhere, a general-purpose or credit-builder card is a better fit.
How does Midas deferred-interest financing work?
You pay no interest if you pay the full promotional balance within the plan period (6, 12, 18, or 24 months), and a 2% promotional plan fee applies. If you do not pay it in time, interest is charged back to the original purchase date at the 35.99% APR, which can be costly.
What credit score and limit does the Midas card require, and does it build credit?
Comenity does not publish a fixed minimum. Reported approvals skew toward good credit (average scores near 669) with reported limits averaging around $2,355. It reports to all three bureaus, but it pays no rewards and its high APR makes carrying a balance expensive, so a dedicated unsecured starter card such as the Aspire Cash Back Rewards Mastercard or the Arro Card is usually a better choice. Terms and conditions apply.
