Full Review

10% off your first purchase. It's certainly not the biggest first-purchase discount available from a retailer-affiliated credit card. But the 10% that you'll save on the first Stein Mart purchase that you make with the Stein Mart Card can still save you a bundle. And if you’re going to shop at Stein Mart anyway, why not save as much as possible in the process?

Extra savings per year. Savings start with your first purchase, but they certainly don't end there. In fact, you'll receive Elite Status for spending at least $500 per year at Stein Mart, which means you'll get 4 points for each dollar spent in store or online for the rest of the year. So, if you can manage to shop strategically, you'll benefit big time.

Regular rewards. For starters, you'll earn just 2% "cash" back on all purchases made with the Stein Mart Mastercard. You'll get 2 points per $1 spent, and you need 500 points to get a $5 rewards certificate. To put that into context, the average cash rewards card offers 1.07% back on all purchases, while the best rewards cards give you 2%+ across the board.

Furthermore, Stein Mart Credit Card points expire if you don't make a purchase for 18 consecutive months. And making sure you spend or redeem often enough to avoid that fate is a hassle.

No financing appeal. The Stein Mart Credit Card doesn't offer 0% introductory rates, and its regular APR is well above the average for a new credit card offer (17.89%). So you don't want to carry a balance from month to month with this particular plastic.

No annual fee. The Stein Mart Mastercard's lack of an annual fee will save you about $19.76 per year relative to the average credit card. And it's especially helpful for folks who want to use the card occasionally, rather than making it their everyday spending vehicle. But most retailer-affiliated credit cards don't charge annual fees. So this feature isn’t unique, either.

Good credit required. You need good or excellent credit to qualify for the Stein Mart Mastercard, which means it's probably wise to check your latest credit score before you apply. And if you find that your credit is merely fair, you should still be able to get Stein Mart plastic. The Stein Mart Store Card is available to people with fair credit, and it offers all of the 10% discounts available from the Mastercard version.