Torrid credit cards issued by Comenity Bank are very simple for store cards. With no annual fee, loyal fans of the apparel retailer's brand will appreciate the ongoing 5% discount on Torrid purchases, as well as valuable sign-up bonuses.
But if you have a balance, the outrageous APR should have you looking elsewhere for a new card.
Here are five things you should know about the Torrid credit card.
1. You must be enrolled in the Torrid Rewards program, but the card cannot earn Torrid Rewards
To be eligible for the Torrid Rewards credit card, you must first be a member of the Torrid Rewards store loyalty program. It's free to join, and members earn 1 point for every $1 spent on brands through the program's store rewards. The program has three tiers, and the more you spend on Torrid, the higher the ladder you climb and the more valuable your points will be.
However, oddly enough, having a Torrid credit card won't affect your earning rate or even give you a higher status in the Torrid Rewards program. You will not earn more than 1 point per dollar spent on Torrid, regardless of whether you are a cardholder or not.
But points are not a reason to get this card.
2. It offers an ongoing 5% discount on Torrid purchases
Points are fine, but points can get complicated. 5% off every time you check out at Torrid? This is a refreshingly simple and valuable benefit, especially compared to many other credit cards integrated into separate and complex loyalty programs.
As an added bonus, Torrid credit cardholders also get exclusive sales and offers that non-cardholders can't get (though the details of the exclusive offers aren't entirely clear).
3. The card opening discount is also very generous
At this point, new cardholders will receive a 40% discount code that can be used for one unlimited online purchase (clearance items and in-store purchases are not eligible). If you're already looking to build a new wardrobe, this could mean big savings. Discount codes will be emailed and must be used the day the card is approved.
New cardholders will also receive a $15 coupon on Torrid (online or in-store) purchases of $50 or more.
However, please note that there are brand and product restrictions on all Torrid discounts.
(Also note that the 5% discount cannot be combined with the 40% sign-up discount).
4. The card can only be used in Torrid…
The Torrid credit card is a “closed loop” card; H. It can only be used to purchase from Torrid. This means Torrid can effectively influence your spending decisions because you can't shop at other retailers.
While ongoing discounts at your favorite retailers are nice, the flexibility of a universal cash-back credit card is probably better for most people.
5. …you won't want to carry a scale
Thinking of financing your new clothes and making a monthly balance? You might want to think again. As of September 2022, Torrid credit cards offer a whopping 29,24% APR. That's an expensive proposition for new clothes, and well above the average APR for a credit card that charges interest.
If you need to fund a purchase through Torrid, you're better off looking for a credit card offer with a 0% introductory APR. Even better, if you pay your balance on time and in full each month, you can avoid interest costs entirely.
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