Coldwater Creek Visa Credit Card Review - Read First!

Coldwater Creek Visa Credit Card Review

By Dan Rafter / September 26, 2011

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The Verdict: The Coldwater Creek Preferred Visa card is a surprisingly strong entry in the department-store credit card sweepstakes. Credit cards associated with department stores are usually associated with sky-high interest rates and weak rewards programs. the Coldwater Creek card, though, avoids these pitfalls. Unfortunately, it’s still not quite as flexible as are non-store-affiliated rewards cards. If your credit is strong, you’ll be better off with one of stronger rewards cards on the market.

Overview: The Coldwater Creek Preferred card comes with its own rewards program and with interest rates that are reasonable as long as your credit is strong. There is no annual fee. But be careful of the penalty fees: These are on the high side. The rewards program is also limited. You’ll collect rewards points until you earn enough for gift certificates to Coldwater Creek retailers. This is only a positive if you are a devoted and frequent shopper of Coldwater Creek. Being a devoted shopper of this establishment is also the only way to earn rewards points quickly.

How This Card Works: You’ll earn rewards points with every purchase you make, though you’ll earn more when you use your credit card to buy Coldwater Creek items. Once you earn 2,000 points, you’ll receive a $20 Coldwater Creek coupon that you can use to shop for the retailer’s merchandise.

Travel and Shopping Benefits: You’ll earn five points for every dollar that you charge with this card at Coldwater Creek locations. You’ll earn one point for every dollar that you charge on all other purchases. There is no annual fee with this card.

Fees: The purchase interest rate with this card will either be 15.24 percent of 19.24 percent depending on your creditworthiness. Cash advances cost $10 or 3 percent of the amount of each transaction, whichever figure is higher. Late, over-the-credit-limit, returned-payment and returned-check fees all cost up to $35.

Pros:

  • No annual fee.
  • Solid rewards program.
  • Gift certificates for Coldwater Creek merchandise.

Cons:

  • Penalty fees are high.
  • Fewer rewards points when you use card outside of Coldwater Creek.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

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