The Loft credit card is a store credit card issued by Comenity Bank that can be used to make purchases at Ann Taylor, LOFT, Lou & Grey, and other Ascena retail brands. The Loft credit card offers benefits like special discounts, reward points, and financing options when shopping at LOFT and other associated stores. But is the Loft credit card worth getting? Here’s an overview of its key features, benefits, and drawbacks to help you decide.
Overview of the Loft Credit Card
The Loft credit card is a store-specific credit card that can only be used for purchases at LOFT, Ann Taylor, Lou & Grey, and other Ascena family of brands stores as well as their websites. It cannot be used at other retailers.
The Loft credit card is issued by Comenity Bank and serviced by the bank. Comenity Bank issues store credit cards for many different retailers including Victoria’s Secret, Sephora, Pottery Barn, and more.
The Loft credit card is available in two different versions – the Loft Mastercard and the Loft Credit Card. The main difference between the two is that the Loft Mastercard can also be used anywhere Mastercard is accepted, while the regular Loft Credit Card can only be used at Loft stores.
The Loft credit card requires applicants to have fair credit or better to qualify. The credit limit and APR you receive will vary based on your creditworthiness.
Benefits of the Loft Credit Card
There are several potential benefits to having a Loft credit card, including:
- 15% off first purchase: You get 15% off your first purchase when you open a Loft credit card. This discount can help you save money right away on your Loft shopping.
- Bonus reward points: The Loft credit card offers 10 reward points for every $1 spent at Ann Taylor, LOFT, Lou & Grey, and other affiliated stores. Points can be redeemed for reward certificates to use on future purchases.
- Exclusive offers & discounts: Cardholders get early access to sales and special offers like discounts on select items or bonus points on purchases. You may get birthday and anniversary discounts too.
- Free shipping: Standard shipping is free on purchases made with the Loft credit card. This perk can save you money on shipping costs.
- Special financing options: The Loft card offers promotional financing options on purchases over a certain amount, such as 12-18 months deferred interest or low monthly payments. This makes larger purchases more affordable.
- No annual fee: There is no annual fee to have the standard Loft credit card, so you can keep it long-term without having to pay annually. The Loft Mastercard has a $40 annual fee after the first year.
Drawbacks of the Loft Credit Card
While the Loft credit card does come with some nice perks, there are also some potential downsides to consider:
- High APR: The Loft card has a very high APR, currently 28.49% variable. This makes it a very expensive option for carrying a balance month-to-month. The high interest can negate any rewards or discounts earned.
- Foreign transaction fee: There is a 3% foreign transaction fee charged on purchases made outside the U.S. This makes the card less ideal for international shopping.
- Store-specific usage: Since it can only be used at LOFT and affiliated stores, the Loft card limits where you can earn rewards and benefits. Usage will be limited if you don???t frequently shop these brands.
- Credit limit: As a store card, the Loft credit card tends to have lower credit limits than traditional unsecured credit cards. The limit may restrict the size of purchases you can make.
- Hard inquiry: Applying for the Loft card means Comenity Bank will do a hard inquiry on your credit report, which can cause a small temporary drop in your credit scores. Too many inquiries in a short timeframe can be detrimental.
How and Where You Can Use the Loft Credit Card
Ann Taylor Loft credit card: The standard Loft credit card can only be used at LOFT stores (including in-store, online, phone orders, etc.), Ann Taylor stores, Lou & Grey stores, and other Ascena family brand stores. Purchases made anywhere else will be declined.
The Loft Mastercard, however, functions like a traditional Mastercard and can be used wherever Mastercard is accepted – including retail stores, restaurants, online shopping sites, etc. However, you will only earn Loft rewards points and benefits when using the card at Loft, Ann Taylor, Lou & Grey, and affiliated stores.
Both versions of the card allow you to tap into special financing offers on qualifying purchases at LOFT and Ann Taylor. For example, you may get no interest if paid in full within 12-18 months on orders over a certain amount.
You can manage your Loft credit card account online or via the mobile app. You can check your balance, make payments, see statement activity, redeem rewards, and more. Customer service is also available by phone if you need account assistance.
Loft Credit Card Login
Logging into your Loft credit card account is easy and allows you to manage your account online. To log in, go to the Loft credit card website at www.loftcreditcard.com. On the homepage, you will see a link or button to log into your account. Click this and you will be taken to the login page. On the login page, enter your Loft credit card username and password in the fields provided. Your username is typically your Loft credit card number or an email address associated with your account.
If you have forgotten your username or password, you can click the “Forgot Username” or “Forgot Password” links to reset them. Once you have entered your credentials, click the “Log In” button. You will then be logged into your account dashboard where you can view your account balance and activity, make payments, update your personal information, and more. The Loft credit card website offers a secure way to access your account online at any time. Just remember your username and password so you can conveniently log in and manage your account.
Loft Credit Card Login Payment
The Loft credit card can be a useful way to finance purchases from the women’s clothing retailer Loft. When you get a Loft credit card, you can take advantage of special discounts and rewards when shopping at Loft stores or online. To make a payment on your Loft credit card, you have several options.
You can pay online through the Loft credit card website by logging into your account. On the site, you can view your balance and recent transactions, then make a payment by linking a bank account, entering a debit card number, or mailing a check. You can also pay by phone by calling the number on the back of your Loft credit card and following the prompts.
When paying by phone or online, the payment is usually processed right away. Lastly, you can mail a payment by check to the payment address listed on your monthly statement. Be sure to make your payments on time to avoid late fees and interest charges. Setting up automatic payments can help ensure your Loft credit card bill is paid on schedule each month.
Pros of Paying with the Loft Credit Card
There are some advantages to paying with the Loft credit card when shopping at LOFT, Ann Taylor, Lou & Grey, and other affiliated stores:
- Earn 10 reward points per $1 spent
- Get exclusive cardholder discounts and savings
- Take advantage of special financing offers to make larger purchases affordable
- Get free standard shipping on purchases
- Access birthday and anniversary perks if offered
- Get early notice of sales and events
- Tap into Mastercard benefits if you have the World Mastercard version
- Enjoy smoother and faster checkout when shopping in-store
Using the Loft card strategically when shopping at LOFT brands can help maximize savings and rewards. Just avoid carrying a balance, which negates rewards with interest charges.
Should You Get the Loft Credit Card?
The Loft credit card can be worth considering if:
- You are a frequent shopper at LOFT, Ann Taylor, or affiliated brands
- You want to finance large purchases over time with low or no interest
- You will pay off the balance in full each month to avoid interest
- You want discounts and rewards when shopping at LOFT stores
- You appreciate free shipping and special offers
However, the high APR, limited usage, and potential credit inquiry make it less appealing if:
- You won’t shop at LOFT often enough to earn rewards
- Do you prefer a card with more flexible rewards
- You want a card with a lower long-term Annual percentage rate APR
- You want to avoid too many credit card inquiries on your report
Overall, the Loft credit card is best suited for frequent Ann Taylor and LOFT shoppers who will maximize the rewards, discounts, and financing offers. But it likely shouldn’t be the only credit card in your wallet due to the very high-interest rate and limited usage. Be sure to consider your spending habits and needs when deciding if it fits your lifestyle and budget.
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