New York & Company is a great place to get stylish clothing for a reasonable price, but how about their RunwayRewards card (issued by Comenity)? Don’t apply for the New York & Company credit card without seeing this review.
Where can you use their credit card?
It can only be used at New York & Company stores and on its website. This credit card can’t be used anywhere else.
There used to be a New York & Company MasterCard version that could be used anywhere MasterCard was accepted and you would earn rewards while shopping elsewhere (but at a much lower level). Unfortunately, July 29, 2010, marked the death of the New York & Company MasterCard… you can no longer apply for it and the existing accounts have been closed.
Interest rate and fees
The New York & Company card has an APR of 26.74 percent (as of May 2017). There is no annual fee
With the RunwayRewards from New York & company card, you’ll earn:
- 1 point per dollar spent at NY & Co.
- $10 rewards voucher for every 200 accumulated points on the regular black-colored card (Premier members get a $20 rewards voucher for every 200 points)
- $10 off coupon once per year for the accountholder’s birthday ($15 for Premier members)
- In order to have a Premier account you first must spend $400.00 in a calendar year (and you must continue to spend at least that amount to keep it at Premium)
- Periodic sales/savings events
- Free online shipping, but only periodically throughout the year on purchases you make with your RunwayRewards credit card.
Upon account-opening, you’ll get 15 percent off on the first purchase.
At first glance it sounds attractive, but here’s why it’s not as good as it seems for all shoppers.
- Limited chances to earn rewards – The standard-level credit card only gives rewards worth 5 percent on your spending. However, these rewards can be earned and redeemed ONLY at New York & Company. If you shop there infrequently, you may be better off with a card that gives a flat rate of cash back on all purchases and allows you to redeem for more than NY & Company clothing.
- Free-shipping benefit is limited – The terms say this benefit is offered “periodically” throughout the year, but there’s no indication of exactly when.
Comenity (which issues the card) doesn’t have a great reputation for customer service. The most common complaint seems to be that, when billing errors are made, Comenity is hard to reach.
As with most co-branded store credit cards, the New York & Company card may serve as a credit leg-up. If you frequently shop at NY & Company, you’ll be able to make use of the rewards on your purchases until you can graduate to something else. To that effect, there are plenty of other no-annual-fee cards that give rewards you can redeem as straight-up cash back. Check out the Discover it card, which gives up to 5 percent cash back on categories. And the Chase Freedom Unlimited, which gives 1.5 percent cash back on everything.
Why we gave it 1.5 out of 5 stars
This card’s rating was based on our standards for store credit cards.
|Offers introductory interest-free financing: This card doesn’t have any intro financing offers.|
|Offers ongoing rewards/discounts: This card gives points on every purchase and a discount coupon every year.|
|Fair interest terms: This card’s interest rate is above the average store card APR (according to CreditCards.com's latest retail card survey).|
|Consumer-friendly incentives:This card offers free shipping on some purchases, but only intermittently (and exactly when isn’t revealed in the card’s terms)|
|Can be used anywhere: This card’s use is limited to in-store on the merchant’s website.|
Last updated May 2017