It's a refreshingly simple and potentially valuable store card, featuring both initial and ongoing discounts. But it won't be useful anywhere other than the clothing retailer.
Craig Joseph
Lead Writer | Credit cards, Travel rewards, Personal finance
Craig Joseph is a NerdWallet credit cards and travel rewards expert. He has degrees in geology from West Virginia University and oceanography from Oregon State University and has published in academic journals, newspapers and blogs. Craig is passionate about personal finance and wants to enhance the financial literacy of everyone he meets. He'll probably also try to convince you why rocks are cool.
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The Torrid credit card, issued by Comenity Bank , is refreshingly simple for a store card. There’s no annual fee, and the clothing retailer's brand loyalists will find value in the ongoing 5% discount on Torrid purchases as well as the valuable sign-up bonus.
But if you’re going to carry a balance, the outrageous APR should have you shopping elsewhere for a new card.
Here are five things you should know about the Torrid credit card.
To qualify for the Torrid Rewards credit card, you'll first need to be a member of the Torrid Rewards store loyalty program. It's free to join, and members earn store rewards in the program at a rate of 1 point per $1 spent with the brand. The program has three tiers, and the more you spend with Torrid, the higher up that ladder you'll move and the more your points are worth.
Oddly, though, holding the Torrid credit card doesn't impact your earnings rate, or even offer you elevated status in the Torrid Rewards program. Cardholder or not, you won't do better than 1 point per $1 spent at Torrid.
But points aren't the reason to get this card.
Points are nice, but points can get complicated. A straight-up 5% discount every time you check out at Torrid? That's a refreshingly straightforward and valuable benefit, especially compared with many other store credit cards that are integrated with a separate and complicated store loyalty program.
As an additional perk, Torrid credit card holders will also receive access to exclusive sales and offers that aren't available to non-cardholders (though the details about the exclusive offers aren't fully clear).
As of this writing, new cardholders will receive a 40%-off discount code eligible for one online purchase with no cap (clearance items and in-store purchases aren't eligible). If you were already planning to outfit a new wardrobe, this could mean significant savings. The discount code is sent via email and must be used on the day of card approval.
New cardholders will also receive a coupon for $15 off a purchase of $50 or more at Torrid (online or in-store) once the card arrives.
But be aware, that there are brand and product restrictions that apply to all discounts at Torrid.
(Also note that the 5% discount doesn't stack with the 40%-off sign-up offer).
The Torrid credit card is a “closed-loop” card, meaning it can be used only for purchases at Torrid. That means Torrid effectively has leverage over your spending choices, since you can’t make purchases at other retailers.
While an ongoing discount at your favorite retailer is nice, the flexibility that comes with a general cash-back credit card might be better for most people.
Store cards also tend to offer lower credit limits than you might qualify for with a general rewards credit card. A lower credit limit can affect your credit scores by increasing the percentage of available credit you use (your credit utilization ). For example, if you have a store card with a $500 credit limit and you make $300 in purchases, your credit utilization is 60%. You generally want a credit utilization below 30% to avoid damaging your credit scores.
Thinking of financing your new duds and carrying a balance from month to month? You'll likely want to think again. As of September 2022, the Torrid credit card had a lofty APR of 29.24%. That’s an expensive proposition for new clothes and far higher than the average APR among credit cards that charge interest .
If you need to finance a purchase with Torrid, you'd be better off looking for a 0% intro APR credit card offer . Better yet, you can avoid interest charges entirely if you pay your balance on time and in full each month.
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Craig Joseph is a NerdWallet authority on credit cards and travel rewards. His work has been featured by The Associated Press, Washington Post, San Francisco Chronicle, Nasdaq and Yahoo Finance. See full bio.
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