Brooks Brothers is well known as being one of the premier retailers for upscale clothing. In fact, they’ve been around since 1818 and are the nation’s oldest apparel chain for men. Most recently, they’ve gotten quite a bit of attention for their suits, shirts, and ties reportedly being used to dress the stars of the hit show, Mad Men. There’s no denying they make sharp clothes, but is the Brooks Brothers credit card a wise decision? Let’s find out…
There are two different offers:
Brooks Brothers card – This is their store-only version credit card. It can only be used for purchases at their store or orders through their website and catalog.
Brooks Brothers MasterCard – There is only one Brooks Brothers credit card application, but those with qualifying credit will be given the MasterCard instead of the store-only version. It can be used at their stores and wherever MasterCard is accepted.
Interest Rates – As with most store cards, the APRs are definitely on the high side. At the time of this review the store card carries a 22.99% APR and the Platinum MasterCard carries an APR ranging from 14.24% to 21.24% (depending on your credit).
Annual Fee – neither of the Brooks Brother credit cards charge an annual fee.
Rewards – Here’s what they offer
- 4 points per dollar spent at Brooks Brothers (both cards give this)
- 1 point per dollar at all other places MasterCard is accepted
- $20 Brooks Brothers reward certificates are given for every 2,000 points
Fine Print – Reward certificates cannot be used on catalog or internet orders. Certificates will expire after only 6 months from date of issue (except when prohibited by law).
Should You Apply?
The Brooks Brothers credit card isn’t bad, but the rewards are only average for a store-affiliated card. Because there doesn’t appear to be any other unique, worthwhile benefits offered, you may want to think twice before filling out a application.
A More Rewarding Option?
Here are 3 cards I would recommend instead:
- Chase Freedom – 5% cash back on categories + signup offer
- Capital One Venture – 2 miles per dollar on all purchases
- American Express Premier Rewards Gold – Generous rewards and luxurious benefits
Updated for 2013