Review: Forever 21 Credit Card

forever-21-credit-cardClothing retailer Forever 21, in partnership with Comenity Capital Bank, offers a credit card that gives you the opportunity to earn rewards toward future Forever 21 purchases every time you use it. But is it worth a place in your wallet? Our overview / review of the Forever 21 credit card is below:

The first thing to understand about the Forever 21 credit card is that there are actually two different credit cards being offered: a Forever 21 Visa or a Forever 21 store-only card. When you apply, you will be considered for the Visa first, but if your credit history is not good enough, you will get the store-only card. In our opinion, it doesn’t really matter which one you get, because we wouldn’t recommend using the card outside of Forever 21 anyway. (You can get better and more flexible rewards outside of Forever 21 with different cash back cards.)

That said, let’s look at the Forever 21 reward program to see if this card is worth the trouble at all. The card offers you points with every purchase, and for every 300 points you earn you get a $5 rewards certificate for a future purchase. (You can collect multiple rewards certificates and use them on the same purchase, so the $5 value of each certificate does not limit you, but instead simply lets you get your rewards faster. Note, however, that reward certificates are only good for 60 days, so you can’t save them up for long.)

Here’s how you earn points:

  • Forever 21 Visa: 3 points per dollar on Forever 21 purchases, 2 points per dollar on restaurant purchases, and 1 point per dollar on everything else.
  • Forever 21 Store Card: 3 points per dollar on Forever 21 purchases

So, $100 in purchases at Forever 21 is enough (300 points) to get you a $5 reward,which is a pretty good deal if you are a regular Forever 21 shopper.

In addition to the points program, the Forever 21 cards give you a few more perks:

  • 20% off your first purchase with the card; in most cases this card offers instant approval so you can use it today online
  • 15% off a future purchase after your card arrives in the mail
  • $10-Off birthday discount
  • 21% on your Forever 21 card anniversary
  • Other discounts and double point opportunities

Overall the card sounds good, but we do have one reservation. We could not find any information on the interest rate for the Forever 21 cards, but our experience tells us that the rate is almost definitely over 20% and probably above 25% (we are investigating to get the exact rate). If you have a habit of carrying a balance on your credit card, don’t get this one because the interest you pay will essentially cancel out the rewards you receive.

If you’d like to apply for the Forever 21 credit card, you’ll find more information and an application here.