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These credit cards can be used in store and anywhere else that brand of card is accepted. This type of card bears the name of both the retailer and the network it's on - Visa, Mastercard, American Express, or Discover. On the other hand, co-branded credit cards - or open-loop cards - give cardmembers more flexibility in how they spend.
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This can be costly if you don’t pay your balances in full each month. However, store cards also tend to have higher APRs (annual percentage rates) as well.
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They’re also generally easier to get approved for than regular credit cards. Many store cards come with perks like discounts, rewards programs, special financing options, and even birthday gifts. So, for instance, if you open a store card at Boscov’s, you can only use it at Boscov’s. Store cards can only be used to make purchases from a single company or retailer, such as a department store. Private-label credit cards - also known as closed-loop cards or store credit cards - are credit cards or credit lines issued by a bank on behalf of a store. What are private-label and co-branded credit cards, you may ask? Some of these retailers include stores such as J.Crew, New York & Company, Bed Bath & Beyond, Ikea, Overstock, and many more.Ĭomenity offers both store cards and credit cardsĬomenity Bank issues both private-label and co-branded credit cards for its retail partners. Considering that Comenity provides credit programs on behalf of so many retailers, you might already be a cardmember yourself. The parent company also oversees Alliance Data Retail Services, which is also a credit card company.Ĭurrently, more than 50 million cardmembers hold an account with Comenity Bank. The bank is a subsidiary of Bread Financial, a financial services company, which recently changed its name to Bread Savings. While it changed its name to Comenity Bank in 2012, it continues to provide the same credit cards and high-yield savings accounts to its customers.
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Those store cards the clerks always ask you if you’re interested in applying for? Those are private-label credit cards.Ĭomenity Bank was first formed as World Financial Network National Bank in 1989 with the goal of providing private-label credit card services to various retail establishments. If you’ve ever bought anything from a department store - which you probably have - you know exactly what I’m talking about. These financing solutions make their way to you as a consumer in the form of private-label and co-branded credit cards. Getting approved for a card from Comenity BankĬomenity Bank provides financing solutions to many popular brands around the world - more than 135 retail partners to be precise.The complete list of cards offered by Comenity Bank.The best cards offered by Comenity Bank we recommend.Comenity offers both store cards and credit cards.More information about Labaton Sucharow is available at. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, consumer protection, corporate governance and shareholder rights, and cybersecurity and data privacy litigation. Labaton Sucharow can analyze your claim, negotiate with the company, pursue your claim in arbitration, and potentially recover up to 3 times the interest paid. If you were hit with sudden, unexpected high interest charges on a Comenity Bank store-brand credit card for Victoria's Secret, Pottery Barn, Sephora, Walgreens, Kellogg's, Wayfair, Signet, IKEA, Restoration Hardware, West Elm, Williams-Sonoma, Zales, or Ulta, you are encouraged to sign up at. This confusing and unfair deferred-interest program burdens consumers with charges that can add up to 2 to 3 times more than the original cost of an item. Even if they only have one payment left on an item, consumers with a balance are charged interest for the entire promotional period, typically 12 to 18 months. Many consumers are unaware that they must pay off their full balance before the promotional period ends. To entice customers to sign up for its store-brand credit cards, Comenity Bank offers a misleading 0% APR interest period. Comenity Bank deceives customers into signing up for deferred-interest promotional credit cards without disclosing the true interest rate.