Review: HSN Credit Card

The HSN credit card allows you to buy on credit on HSN (formerly Home Shopping Network) and also offers you various HSN discounts. But be careful of that interest rate and those “VIP” financing offers! Our overview / review of the HSN credit card is below:

The first thing to understand about the HSN credit card is that it can only be used at HSN, nowhere else. (There used to be an HSN Mastercard that was accepted other places, but that’s no longer offered.) A credit card with such limited acceptance is something to be wary of — opening a new line of credit can hurt your credit rating, especially if your credit history is shaky, so you don’t want to open a new line of credit that you can barely use, especially if your credit is not great.

Even if your credit history is good, there’s not a lot to like here. The card offers no rewards (though you do get $20 off your first card purchase), and its main supposed perk, “VIP Financing”, can be a trap if you’re not careful. The VIP Financing offers vary, but a typical example allows you to pay no interest for 9 months on purchases of $399 or more. BUT, what may not be apparent is that you must pay off ALL of the purchase within those 9 months. If you don’t, you’ll get charged all of the interest you would’ve paid from the day you made the purchase — as if the 0% interest offer had never existed!

And what interest rate will you pay? A whopping 28.74%!!! You need to think very carefully before you get this card, and be very careful if you do.

The HSN credit card is issued in partnership with Comenity Capital Bank. You can apply online via this application.