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This article was last updated Oct 18, 2013, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.
Shopping is my favorite season. When I get the “itch” for a trendy new look or I am in need of a little retail therapy, Ann Taylor is always one place I am sure to stop by. This women’s clothing retailer has been around since the 1950’s and has followed the latest fashion trends all along the way. They offer classy, high-end fashion at a price that won’t break the bank. Ann Taylor offers two cards to finance your purchases. Although both cards are issued through Comenity Bank, one is their own store card, which cannot be used anywhere other than Ann Taylor or LOFT. The other card being offered –the one we are doing the review on- is a Mastercard and can be used both at the retail chain and anywhere Mastercard is accepted. We broke down the card’s features below so you can decide if this card is right for you.
- Earn 5 Rewards Points for every dollar spent in-store or online at Ann Taylor or LOFT, Ann Taylor Factory Store, LOFT Outlet and Lou & Grey
- Earn 2 Rewards Points for every dollar spent on gas and grocery purchases
- Earn 1 Reward Point for every dollar spent wherever Mastercard® is accepted
- Earn a $20 Rewards Card for every 2,000 points earned
- $15 Birthday Gift
- Enjoy an extra 15% off the first Tuesday of every month, combinable with all in-store promotions and offers
- Receive a $20 Rewards Card for your first purchase made outside of Ann Taylor or LOFT
- Receive 15% off when you open and use your Ann Taylor Mastercard at Ann Taylor, AnnTaylor.com, Ann Taylor Factory Store, LOFT, LOFT.com, and LOFT Outlet
- 26.49% variable APR
What We Like
The Ann Taylor Mastercard offers a rewards program called “Perfect Rewards”. Rewards rate: Earn 5 Rewards Points for every dollar spent in-store or online at Ann Taylor or LOFT, Ann Taylor Factory Store, LOFT Outlet and Lou & Grey. Earn 2 Rewards Points for every dollar spent on gas and grocery purchases and earn 1 Reward Point for every dollar spent wherever Mastercard® is accepted. Every time you reach 2,000 points you get a $20 Rewards Card; in other words, after you spend $400 on the card, you get $20 back, a 5% savings. The Rewards Card can be combined as long as they were earned by the same cardholder. Another bonus is a $15 birthday gift, which must be used within your birthday month.
What We’re Not so Crazy About
The MasterCard’s APR at the time of review is a variable 26.49%- ouch! Keep in mind that with store issued cards, credit limits may not be very high. Furthermore, if you’re like me, you probably don’t shop for all your clothing items in one store. People tend to shop around, thus the chances of you continually spending enough money to accrue those $20 Rewards Cards are very slim, so the card won’t likely save you money in the long run. Also, points accrued are non-transferrable and cannot be used by anyone other than the primary cardholder. The great majority of credit card carriers tend to carry a balance, so the high 26.49% variable APR just doesn’t make sense if you are a part of that majority. Plus, don’t forget the finance charges that will most likely build up. Overall, there are not enough benefits to make this card an attractive offer.
The Bottom Line
The bottom line here is that although Ann Taylor is a great clothing retailer, their card is just not a great option. The Ann Taylor store is always having great sales both in-store and online, thus a $20 off coupon that comes with many possible risks, is not necessary. And, although we appreciate the nice $15 birthday gift, this is a pretty standard offering at most clothing retailers. Even more, many retailers offer this gift by just being on a email list, rather than “having” to take out a store card. Further, you are better off using a rewards credit card that doesn’t have such a high 26.49% variable APR. Many cards out there offer cash back in specific categories where you are not restricted to one single store.
*Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.