Introduction to Victoria’s Secret Credit Card
Being one of the most popular lingerie brands in the world, Victoria’s secret unmistakable sales and ads are a sure way to lure in shoppers from all over the globe. What about their credit card? Is it possible for you to save some cash on their very pricey undergarment? In this review, we are going to look at Victoria’s Secret Credit card’s benefits, fees, rewards program, and the drawbacks.
The Victoria’s secret credit card is issued by Comenity Bank. It is a basic store-branded card that offers a variety of perks including shopping rewards, free shipping on specific qualifying orders and annual birthday presents. During the card’s application process, you will be offered two options; either looks or designs. However, the benefits of the card are exactly the same regardless of your option.
Neither the Comenity bank nor Victoria’s Secret terms dictate the minimum credit score that you need for your card application to be approved. Actually, most reviews on the card state that your card is most likely to be approved based on a fair or better credit score. Remember that the different status of Angel cards does not mean different types of credit cards. They only state an individual’s tier level and status.
Where to Use it
The card is only accepted in Victoria Secret’s stores, PINK stores, Bath and Body Works stores and the official Victoria’s Secret website (victoriassecret.com). Although the Victoria’s Secret Credit Card is accepted at Bath and Body Works, you cannot earn Angel reward points here, neither can you utilize your previously earned reward points at the stores. Their website does not accept the card neither.
How The Card works
If you are a regular shopper at the Victoria’s Secret stores, you stand a good chance of benefiting from the tiered rewards system of the Victoria’s Secret Angel Credit Card. The tiered rewards system work based on the following Guidelines:
- For every $1 spent at any of the qualifying stores, the cardholder earns one reward point
- In the first two tiers (Angel VIP and Angel Card), cardholders earn a $10 worth angel reward certificate when they accumulate a total of 250 points
- In the highest reward tier (Angel Forever), cardholders will earn $15 for 250 points.
If you are a frequent shopper at the Victoria’s Secret Store, and you can spend more than $250 in a year, the Angel card is a very good chance to get rewarded. The Angel card is the beginner level for all shoppers. However, if you manage to earn 500 points accumulatively within a period of one year, you will be automatically upgraded to the Angel VIP card. Similarly, if you earn a total of 1,000 points within a period of one year, you are automatically upgraded to the Angel Forever card.
There is also an option of cash back rewards for Victoria’s Secrets most loyal customers who might not find the Angel credit card beneficial.
Points to Consider Before Applying for the VS credit card
The Victoria’s Secret Credit Card is basically meant for people who frequent the Victoria’s Secret stores and PINK stores. This means it might not be a good match for everybody. Below are some of the points that you should know before getting the card.
- The card is only accepted at Victoria’s Secret Brand Stores
No matter how attractive the perks look, it would be wise to remember that the card is closed loop. This simply means that its usefulness is limited to a specific group of stores. For shoppers who only visit these stores once in a while, the card might not be the best choice.
- The interest rates and Penalty fees can be expensive
The Victoria’s Secret credit card has a 26.49% variable purchase rate, which is pretty high, especially for individuals who tend to carry a balance. The interest charges quickly accumulate in this case. For late and returned payments, there are penalty fees that are detracted from your rewards up to 25% and 37 % respectively.
What’s good about Victoria’s Secret Credit Card
As we have seen, store credit cards can hit you with unexpected high interests and penalty fees if you are not careful. However, if you are well disciplined such that you make your balance payments timely each month, then having a Victoria’s Secret Angel Credit Card is an excellent choice. Below are some of the perks of having this card.
The Shopping Rewards Are Quite Generous
For every dollar spent at any of the Victoria’s Secret brand stores, you earn one point. If you can accumulate up to 250 points, depending on your tier status, you will get a $10-$15 reward certificate which comes in handy in future purchases. The number of certificates that can be earned by an individual is not limited.
No Annual Fees
With Victoria’s Secret credit card, you do not have to worry about annual fee charges. For responsible shoppers, this means that the card is a very ripe low maintenance option.
It has a lot of card holder’s perks
The most popular of these perks if the annual birthday certificate. As if that’s not awesome enough, cardholders are eligible to up to three triple point’s program year, which is solely dependent on the tier status of an individual.
The Downsides of the card
- Angel Rewards expire after 90 days from the day of issue
- The credit card is only limited to Victoria’s Secret Stores, PINK stores and to some extent, Bath and Body Works stores in the USA.
- High-interest fees and penalty charges
How do you get The Most out of The Victoria’s Secret Credit Card?
Making purchases on your triple point’s day is the best way to build up your points and significantly advance your tier because for every dollar you spend, you earn a total of three points. The best thing about this is that you get to choose your triple points day by dialing a given toll-free number. The beginners Angel Card has one triple point’s day per year. On the other hand, the Angel Forever card gets you two triple points day in a period of one year.
However, if you don’t see yourself being able to accumulate 1,000 points in a span of 12 months, or you are not a very frequent shopper at any of Victoria’s Secrets stores, you may have better chances applying for a store credit card or a cash back card, which are more versatile.
For royal shoppers of the Victoria’s Secret stores, the card presents very good rewards mainly because the stores are very generous with their coupons and sales. Some argue that this is only because their products are overpriced, to begin with. However, regardless of whether you are a loyal customer or not, there are still a lot of great reward opportunities at the stores, you just need to know the right ways to harness your chances.
If you are capable of spending more than $250 at any of the Victoria’s Secret stores, then the card will earn you a total of $20 from your reward points on your annual birthday giveaway. Similarly, if you are looking for a card that has flexible rewards and that earns you bonuses on a daily basis, or that has the ability to earn you travel perks, then this is just the right card for you.
For a store-branded card, the Victoria’s Secret Credit card is very popular with the majority of its holders being satisfied with the rewarding system and the many opportunities to save presented by the card.
Keep in mind that there is a very high APR on the card. Therefore, try to be as disciplined as you can by paying up your balances on time if you do not want to attract ridiculous interest fees and penalties.
David is a financial expert who graduated from the University of Fordham (Master in Finance) in 2001. He has 10+ years of experience in private equity and wealth management. With strong expertise in senior-level financial planning, personal financial analysis, and mortgages, David knows his way around personal finance. Before working at CCR he used to be a financial analyst at McKinsey.
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