Ann Taylor is a great choice for my formal clothes, but when you just want something casual, you can’t go wrong with their sister store, Loft. But should you be buying their closing using their credit card? Let’s take a look at the pros and cons. There are actually 2 different cards:
Ann Taylor Loft card – Can only be used at their stores
Ann Taylor Loft MasterCard – Can be used at Loft and anywhere MasterCard is accepted
Differences? The main difference between the two is that the Ann Taylor Loft MasterCard gives 1% in rewards for purchases made elsewhere. Of course the regular Loft card doesn’t do that since it can only be used at Loft stores.
Annual Fee: Neither of the credit cards from Ann Taylor have an annual fee.
Rewards: Spending at Loft earns 5 points per dollar and the MasterCard gives 1 point per dollar elsewhere. For each 2,000 points a $20 Loft rewards card is given. That means this card gives 5% at Loft Stores (and 1% elsewhere with Ann Taylor Loft MasterCard).
Benefits: Both of these credit cards give $15 off a purchase during the month of the cardholder’s birthday. With the exception of that, there are no noteworthy benefits.
Interest Rate: A downside to these cards is their high APRs. The store-version of the Ann Taylor Loft credit card application listed a 24.99% APR. Meanwhile, the MasterCard version also listed a 24.99% as of October 2013.
Loft Card: The rewards at their stores are good, but it might not be worth the hassle considering you can only use it at their stores and nowhere else.
Loft MasterCard: This is much better than the regular Loft credit card, since it can be used for purchases at both Loft and elsewhere. The 5% at their stores is good but the 1% on everything else is low compared to some other credit cards on the market. So it’s a tossup.
Here are some other good options to consider…
Earn 5% cash back at department and clothing stores
Sure, the Ann Taylor Loft credit card gives 5% at their store… wouldn’t it be nice to get 5% at EVERY clothing store? With the Discover It card you can get up to 5% cash back in rotating categories like clothing stores, department stores, and more. Check out my Discover It card review to learn more.
Great Rewards + Premium American Express Benefits
You’ve probably seen the AmEx Premier Rewards Gold Card advertised. Here are a few of its benefits.
- Shopping Benefits: On all eligible purchases you get extended warranty, purchase protection, and return protection
- Lucrative Rewards: 3x points on flights booked directly with airlines, 2x points at US gas stations, 2x points at US supermarkets, 1x points on other purchases.
It comes with dozens of other benefits and perks, check them out for yourself here.