Review: Ulta Credit Card

Ulta Beauty, in partnership with Comenity Capital Bank, offers a credit card that allows you to pad your Ultamate Rewards points with every card purchase. Our overview / review of the Ulta credit card is below:

First off, if you didn’t know, Ulta already offers a rewards points program that gives you 1 point per dollar, and allows you redeem points starting at 100 points for $3 off an Ulta purchase. The Ulta credit card lets you earn points faster — and since points are only good for a year (unless you spend enough to reach higher reward levels), it’s good to accrue them as fast as possible so they don’t expire before you have enough to actually redeem.

Next thing to know: there are actually 2 Ulta credit cards. When you apply, you will first be considered for the Ulta Mastercard, which is accepted at Ulta and anywhere elseĀ  Mastercard is accepted. If your credit history is not good enough to qualify for the Mastercard, you will get the Ulta store card, accepted only at Ulta. Obviously, getting the Mastercard would be preferable.

Now, about those points. When you use your Ulta credit card, you will earn points in addition to the points already earned through the Ultamate Rewards program, to the tune of:

  • 1 point per dollar on Ulta purchases with the card
  • 1 point for every $3 spent with the card on purchases outside of Ulta (only for Mastercard holders; store cards can’t be used outside Ulta)

All new credit card holders will also get 20% off their first purchase with the card. Ulta Mastercard holders can also earn an extra 500 points if you use the card for at least $500 in purchases outside of Ulta in the first 90 days of having the card.

There is no annual fee for the Ulta credit card. The interest rate varies from OK to terrible depending on your credit history. MasterCard holders may be approved at an interest rate of 18.99%, 24.99%, or 27.99%. If you don’t qualify for the Mastercard, your rate will be a dismal 27.99%. No matter what rate you qualify at, if you tend to carry a balance on your cards, you should pass this one by — any rewards you receive will essentially be canceled out by the interest you pay.

Ultimately (see what we did there), this card is OK for your Ulta purchases but not worth it for purchases outside of Ulta. With every point you earn being worth 3 cents (or slightly more) when redeemed, your reward on Ulta purchases makes sense, but the reward on outside purchases is essentially the same as a 1% cash back card, and you can earn more than that elsewhere with a better cash back card.

If you want to apply for the Ulta Beauty credit card, you’ll find an online application here.