Review Of The Reeds Jewelers Credit Card
Reeds Jewelers launched its credit card on March 1, 2015 in collaboration with Synchrony Financial. Under the agreement, both parties would extend the private-label credit card benefits to consumers for purchase of jewelry at Reeds Jewelers.
The Reeds Jewelers Credit Card brings you a dedicated credit line and financing service for purchase of the following items:
- Bridal jewelry
- Swiss timepieces
- Customized family jewelry
- Other jewelry
Reeds Jewelers Credit Card offers you the following credit conveniences:
- You can pay your credit card bill online
- You can view your transaction history online
- You can update your personal information
- You can view your Reeds credit card balance
- You can submit questions for answers
- You can avail Reeds’ flexible financing options for your jewelery purchases
It is pertinent to mention here that Comenity Bank previously powered Reeds Jewellers credit card; however, their contract ended and now Synchrony Bank is Reeds partner to extend financial services to card holders. According to the company, the new partnership comes with additional benefits for Reeds customers.
Like other credit cards, the Reeds Jewelers Credit Card’s annual percentage rate (APR) is quite high. Currently the rate is standing at 24.99 percent, and according to the company, the APR will vary depending on the market-based prime rate.
Interest On Purchases
You can ward off the interest on your purchases with the Reeds Jewelers Credit Card. The due date for each payment is 25 days after the billing cycle, and if you pay your complete balance by the deadline every month, your interest on purchases will be written off. However, if you are unable to make payment by the due date, you will be charged an interest that would be $1 or more. The card bears no annual fee.
The Reeds Jewelers Credit Card also entails some penalty fees. The penalty for late payment is up to $35 and that for returned payment is up to $25.