The Ultimate Guide to Credit Cards
Thursday, August 6, 2020

Loft Credit Card Review (2020)

Loft Credit Card Review ([current_year])

Store Credit Card

Brittney Mayer
By: Brittney Mayer
Posted: July 29, 2019

The store known as Loft was established in 1996 as Ann Taylor Loft, an extension of the popular Ann Taylor women's apparel brand. Though still focused on put-together looks for home and work, Loft traditionally offers more relaxed, casual options than its more formal progenitor. Many of the more than 500 Loft stores are found in suburban shopping malls across the country, though some stores can be found in standalone or strip-mall locations.

Given that a typical Loft top can cost between $30 and $50, and the average dress comes in over $70, many loyal Loft shoppers are likely looking for ways to save on their casual business wear. The Love Loft Credit Card offers cardholders the ability to earn rewards points on every Loft purchase but, like most store cards, is a bad way to make purchases unless you can pay them off right away.

Loft Card Overall Rating: 3.5/5.0

Although the high price of Loft clothing can make it tempting to pay off your purchases over time, the Love Loft Credit Card is a poor choice for carrying a balance thanks to a high interest rate. At 26.24%, the card's APR can quickly outpace any rewards you may earn on your purchases.

That high rate makes it almost a good thing that the Love Loft Credit Card's closed-loop nature means it can only be used to make purchases with Ann Inc. brand stores and websites, which means it's limited to Loft, Loft Outlet, Lou & Grey, Ann Taylor, and the Ann Taylor Factory Store (plus their associated websites).

Loft Credit Card

  • APR: 26.24% as of Jul 2019
  • Annual Fee: $0
  • Rewards: Earn 5X points per dollar spent
★★★★ 3.5/5.0

On the plus side, the Love Loft Credit Card does offer a fairly decent rewards rate. Cardholders can earn 5X points per dollar spent on Ann Inc. purchases, and since 2,000 points are redeemable for a $20 rewards card, it comes out to a 5% return. Of course, like the card, those rewards are only usable on Ann Inc. purchases, though they usually can be combined with Loft coupons for extra savings.

While the Love Loft Credit Card's rewards are fairly competitive, it's the discounts that can pack the most punch for many shoppers. Not only do new cardholders receive 15% off their first purchase when they open and use their card for the first time, but all cardholders will receive 15% off Ann Inc. purchases on the first Tuesday of every month. Cardholders will also get an extra discount once a year, earning a coupon for $15 off a purchase each birthday month.

Approval Requirements & Application

If you're looking for a card that will help you buy work clothes despite bad credit, then this card is probably not the right choice. You'll generally need at least a fair credit score or better to qualify for a Love Loft Credit Card.

You can apply for a Love Loft Credit Card in your local Loft store, or you can head online via the link below to fill out an application.

Better Cards to Use at Loft

With a decent rewards rate, the Love Loft Credit Card's benefits are definitely competitive — but that's where the card's usefulness comes to an end. Its high APR makes it bad for carrying a balance, and the limited number of stores where it can be used makes it somewhat of a one-trick pony.

Overall, an all-purpose rewards credit card is a better option if you're looking for a new credit card that can help you save on clothing purchases and everything else you buy. And most prime credit cards will offer lower rates for those prone to carrying a balance.

Cash Back

Although few cash back credit cards will provide a better rewards rate on Loft purchases than the Love Loft Credit Card, an open-loop rewards card will let you earn — and redeem — rewards for more than just filling your closet. Choose a card with bonus rewards categories that match your spending habits to get the most out of your rewards card.

CASH BACK RATING

★★★★★

5.0

OVERALL RATING

5.0/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn unlimited 1.5% cash back on all other purchases.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No annual fee.
  • No minimum to redeem for cash back.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent

0% APR

Unless you're solely shopping discount racks, it can get pricey to revamp your work wardrobe, particularly if you're a fan of Loft and its family of pricey brands. Unfortunately, putting a big clothing haul on your Love Loft Credit Card can mean heaps of interest fees if you can't pay it off right away.

If you have a big buy coming up that you may need a few months to repay, a credit card with an introductory 0% APR offer is often your best bet for avoiding high interest fees.

0% INTRO APR RATING

★★★★★

4.9

OVERALL RATING

5.0/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.
  • Earn unlimited 1.5% cash back on all other purchases.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No annual fee.
  • No minimum to redeem for cash back.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent

Travel Rewards

While you may be shopping Loft for a casual work wardrobe, each blouse and pair of slacks can help you earn your way to a well-earned vacation with the right travel rewards credit card. The points and miles you earn can be used to pay for flights, hotel stays, and other travel-related expenses that can get you out of the office and onto the sand (or slopes, as the case may be).

AIR MILES RATING

★★★★★

4.8

OVERALL RATING

4.8/5.0
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 22.99% Variable
$95
Good/Excellent

The Love Loft Credit Card may be a good addition to the wallet of regular Loft shoppers who can pay off their purchases before accruing interest. For everyone else, the card's limitations mean it will likely just take up room in your wallet that can be better used for an all-around rewards card or low-APR option.

What Others Say About the Loft Credit Card

The rewards, discounts, and sales offered to cardholders are a big hit with many Love Loft Credit Card reviewers, but many others report having issues with the card's customer service, particularly when trying to cancel a card.

WalletHub.com
A review from WalletHub.com says:

While the Loft credit card appears like a fantastic option to first, I would caution people against enrolling in the program. While there are a lot of options to earn rewards (5 points for each $1), and it is accepted at nearly every Loft retail venue, the ~25% interest rate is pretty concerning. If you shop at Loft fairly exclusively and are EXTREMELY diligent about paying off the balance each month, that might justify the risk-reward ratio. Otherwise, I would probably advise against it. — WalletHub.com

★★ 2.0/5.0
Influenster.com
A review from Influenster.com says:

A fantastic store for women of all shapes and sizes. The online site has additional styles and sizes available. I love the loft credit card (also can be used at Ann Taylor) which has great rewards. From dresses to shoes to scarves to dress pants — you really cannot go wrong with the Loft! I've been a brand loyal for 5+ years!!!!! — Influenster.com

★★★★★ 5.0/5.0
ConsumerAffairs.com
A review from ConsumerAffairs.com says:

After applying for the Loft Credit Card, I made a purchase around $18 in September. I did receive the credit card in the mail, but I never received any credit card statement and totally forgot about this until I got a collection call in December asking for immediate payment around $63. I could not even remember what the $63 charge was for until I created a Loft login online and checked the statement. It turned out the additional $45 were two late payment fees and finance charges. They told me I could make a minimum payment, but I told them, first of all, I never received the credit card statements, secondly, I will make the full payment, but it was really not my fault, why should I pay the late fee? So they agreed to take off one late fee charge and I ended paying with around $40. — ConsumerAffairs.com

1.0/5.0

Is the Loft Card Right for You?

Since the Love Loft Credit Card can be used to make purchases with any Ann Inc. brand, it's a little more useful than your typical store credit card — but not by much. In the end, while Loft loyalists who can make the most of the card's rewards and discounts may find it a worthwhile addition to their credit card collection, it's likely that few sporadic Loft shoppers will find the card worth picking up.

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