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This article was last updated Jul 18, 2014, 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.
According to Lifehacker.com, some of the best items to buy during the month of July include furniture and home décor. These items tend to go on sale in order for merchants to clear out summer inventory to bring in their fall inventory.
The Pottery Barn specializes in home furnishings for the entire home with a focus on comfort, quality, style, and of course, value. The Pottery Barn has locations all over the world so there will never be an issue finding one close enough to shop at. They also have a store credit card financed by Comenity Bank to help you save even more for those new purchases. Let’s take a look at the cards features and benefits and also any pitfalls.
Pottery Barn Credit Card Features:
- 0% APR for 12 months or 10% cash back*
- 1 point per $1 spent**
- No annual fee
- Access to special offers throughout the year
- Card is accepted at Pottery Barn, Pottery Barn Kids, and PBTeen in-store, online, or for catalog orders
**Must be eligible for the Rewards Program
This card does not come with a lot of features to tempt consumers into signing up for the credit card, but if you plan on routinely shopping at The Pottery Barn, the special financing offer could save you quite a bit of money. Like most store credit cards, the interest is retroactive, meaning if you don’t pay off your balance in full within the first 12 months; you will be charged interest on the entire total, no matter how much you have already paid off. You must also make purchases totaling a minimum of $750 in order to qualify for this special financing.
Although there is no fee to carry the card (annual fee), the on-going interest is 27.99%, which is very high for any credit card on the market. Late payments and returned payments will be assessed a $38 fee.
It’s a little unclear to me whether or not the rewards program is for everyone, or just those that don’t get the special financing. The way I understand the terms and conditions is that, you can only receive rewards for transactions of $250 or more, but transactions that are $750 or greater can choose between rewards or the special financing.
If you don’t plan on making a purchase that equals or exceeds $750, but more than $250, you are eligible for their cash back rewards program. You must make purchases totaling $250 or more in order to qualify. Those who are eligible for the Rewards Program will receive 1 point per $1 spent with your card at any Pottery Barn, Pottery Barn Kids, and PBTeen purchase in-store, online, or for catalog orders. Points are only awarded for net purchases and users will receive a $25 Rewards Certificate each time they accumulate 250 points. Rewards Certificates must be used within 180 days of issuance and accumulated points will expire after 36 months.
This credit card doesn’t come with very many perks to justify a hard inquiry on your credit report, although I can see why it can be alluring with the option to pay for everything interest free. Alternatively though, it would be a wiser choice to get a credit card with no annual fee and the absence of retroactive interest charges. Additionally, the Reward Certificates expire after just 6 months and you lose any non-redeemed points after 36 months.
Here are some credit cards to consider that will give you 0% interest for 12 months or longer, let’s you earn rewards for your purchases that also don’t expire, and doesn’t come with an annual fee.
Capital One® VentureOne® Rewards Credit Card –This rewards card will earn you 1.25 Miles per dollar on every purchase, every day. Miles can be redeemed for travel, cash, gift cards, merchandise, and Miles won't expire for the life of the account. There is an APR of 0% intro on purchases for 12 months, and the on-going interest rate is 13.49% - 23.49% (Variable), which is way lower than what you would get with the Pottery Barn Credit Card.
Chase Freedom® –This is another great rewards card that will earn you 1% cash back on all purchases. Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. New cardholders can earn a $150 bonus after spending $500 on purchases in your first 3 months from account opening. There is no annual fee with the Chase Freedom® and there is a 0% Intro APR on Purchases for 15 months, which is longer than Pottery Barn Credit Card offers. The ongoing APR is 16.49% - 25.24% Variable.
Carrying a balance will burn a hole through your pocket, so I wouldn’t recommend the Pottery Barn Credit Card for anyone who plans to carry a balance or for anyone that doesn’t believe they can pay off the full balance before the special financing period ends. If you would still like to apply for this card, please visit their website.
*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.