Did you know Lane Bryant was founded in 1904 when a young widow borrowed $300 from her brother-in-law to open a small shop on Fifth Avenue? By focusing on fashion and fit – not merely size – they’ve grown to be one of the best plus size clothing retailers. But is their credit card also among the best? Here’s what you need to know…
Review Summary: With high rates and low rewards, the Lane Bryant card is a real loser!
What type of card is it?
The Lane Bryant card is your typical store credit card – it can only be used at their affiliated stores. Even though it’s not a major credit card (like a MasterCard, Discover, etc) there will still be a “hard pull” credit check done during the Lane Bryant credit card application process. Something to keep in mind is that “hard pull” inquiries can reportedly have an adverse effect on your credit score, which is why you should not apply for credit needlessly.
What is the interest rate?
At the time of this review, the APR is 24.99%. With a high rate like that, this card would be a horrible choice to carry any kind of balance on.
What are the rewards?
Here’s how the rewards program works:
- 2 points per $1 spent at Lane Bryant and Cacique stores
- 1 point per $1 spent at Catherines
Base level accounts will get $10 rewards in exchange for 400 points (that equals a 2.5% rebate). After you spend $400, you achieve “Premier” status which gives $25 rewards for 600 points (that equals just a bit over a 4% rebate).
What is the signup offer?
Usually they seem to offer the typical 10% or 15% off the first purchase made with the Lane Bryant credit card. This is what most store cards usually offer. Is it worth it? Well this is what John Ulzheimer of Credit.com recently said in an “Ask John: Store Card Dangers” article; “Never, ever, ever take advantage of these types of “save 10%” offers. It’s simply not worth the damage you’ll do to your credit scores.” (referencing the store card industry in general, not the Lane Bryant card specifically)
After combing over this credit card’s application, I don’t see any good reasons to apply. The rewards are only average for a store card and the APR is extremely high. Not to mention, the issuer of the card, Comenity, doesn’t exactly have the most stellar reputation when it comes to customer service.
Rewards that give 5% at clothing stores?
You can get 5% at all apparel stores, including Lane Bryant, with the right card. Check out the highest cash reward credit cards to find out how you can get a 5% rebate when you buy clothes.