Review: Coldwater Creek Credit Card

Women’s clothing retailer Coldwater Creek, in partnership with Comenity Bank, offers a credit card that allows you to earn rewards certificates toward future Coldwater Creek purchases. Our overview / review of the Coldwater Creek credit card is below:

The first thing to understand about the Coldwater Creek credit card is that when you apply, you will first be considered for the Coldwater Creek MasterCard, which offers greater rewards and a lower interest rate. If your credit history is not good enough to qualify for this card, you could end up with the Coldwater Creek store credit card that is only accepted at Coldwater Creek, a much worse deal.

For either card, you earn points based on your purchases, with each 1000 points accumulated earning you a $10 Coldwater Creek rewards certificate toward a future purchase.

The Coldwater Creek MasterCard gives you points based on this formula:

  • 5 points per dollar on Coldwater Creek purchases
  • 3 points per dollar on gas and grocery store purchases
  • 1 point per dollar on all other purchases

If you don’t qualify for the MasterCard, you still get the 5 points per dollar on Coldwater Creek purchases, but that is all, because the store credit card can not be used outside Coldwater Creek.

You’ll also get some other perks:

  • 20% off your first Coldwater Creek purchase with your new card
  • A $25 coupon to use during your birthday month

In terms of interest rate, you’ll want to be careful, because the card’s interest rate is based on your past credit history. You might qualify for a MasterCard with a 17.24% rate, but you could also be approved at a 21.24% rate or a 25.24% rate. For the Coldwater Creek store card, your interest rate would be a whopping 27.24%! So, don’t get this card if you ever carry a balance on your credit cards, because the interest you pay will essentially cancel out the rewards you receive.

You can apply for the Coldwater Creek credit card via this online application.