So you have your eye on a new wardrobe from Abercrombie & Fitch, but not enough cash to pay for it all right now? The Abercrombie & Fitch Credit Card is here to help! This retail credit card issued by the World Financial Network National Bank is a great choice if you shop primarily within their store, but how good of a credit card is it outside of Abercrombie & Fitch? In our review of the Abercrombie & Fitch Credit Card, we’ll look at all of the pros and cons of having this retail credit card to determine if it is the right credit card for you.
Abercrombie & Fitch Credit Card Review
Plan carefully if you care considering getting the Abercrombie & Fitch Credit Card. Yes, they will offer to approve you right there at the counter and you can walk out of the store with your pockets still full of cash. You may even receive a one-time discount on your first purchase ranging from 10% to 25%, and while your new wardrobe may be enticing, let’s take a quick look at all of the fine print before we take those clothes home and make a potentially financial life changing decision.
The great thing about the Abercrombie & Fitch Credit Card? It has no annual fee, thus saving you enough to buy another pair of designer jeans. The not so great part? An APR of 24.99%, which is variable, but still pretty steep. A missed payment will only cost you $25, which, in essence, will not buy you anything from Abercrombie & Fitch.
If you don’t have an outstanding balance with your Abercrombie & Fitch Credit Card, there is no fee or additional interest applied to your account with the exception of a monthly processing charge of $1. You can pay for online purchases with it and make payments either in-store or online. They will also send you reminders before payments are due, which is quite nice.
So is the Abercrombie & Fitch Credit Card really worth it? That all depends on how much you shop at their store. There are minimum fees involved, although the high interest rate is a huge turn off. There are no other rewards or benefits for using the card, aside from the one-time discount you may receive upon sign-up, and no loyalty or points program. In the long run, there are not a ton of benefits to having the Abercrombie & Fitch Credit Card, and if you plan on having this credit card for a while, those $1 monthly fees might actually end up costing you more than the little bit you are saving. Ask yourself, will you still shop at Abercrombie & Fitch in 5 years? In 10 years? If the answer is yes, then the Abercrombie & Fitch Credit Card might be for you. Otherwise, there are minimal benefits to be had with the Abercrombie & Fitch Credit Card and you would do well either pay in cash or diversify your wardrobe.