In general, accounts offered by comenity Bank ( Alliance Data Retail Services) either instantly approve or decline and say you'll get a letter or we are still "processing". I'm speaking about Comenity and probably GE/Sync type accounts and not your local bank, Credit Union or national banks like Chase or Citi or Barclays where the auto-approval is the same, but there are direct lender credit representatives that you can talk to for reconsideration of the computer generated results. This is a very (!) simple look at how the computer does instant approvals and is not inclusive of all the factors used, but it should help in understanding why instant approvals take 30 seconds and generally unless you follow up by calling, anything not instantly approved is "denied" with a letter. Crew is easier to get then say Mens Warehouse (just an example). On a "wholesale" level the store/business determines what levels are acceptible for their account such as starting credit limits, FICO and over all scoring, etc. In addition the formula takes into account how "easy" the account is, such as VS and Express store cards are known to approve easier than say a Visa/MC such as Total Rewards Visa. X score and below = decline and "we'll send you a letter in 7-10 days"Īpproved X (times) another score (income less expenses times value of X score) = starting credit limit. Key data points on credit report (plus or minus) - Home ownership, time at present job, BK, Repo, Foreclosure, number of 30/60/90 late, age of lates, charge offs, etc This is a big company and based on their bio they service 125 retail cards - it's ALL done by computer: Otherwise, not so much.In general, accounts offered by Comenity Bank ( Alliance Data Retail Services) either instantly approve or decline and say you'll get a letter or we are still "processing". The Bottom Line: If you spend lots of money at Victoria’s Secret, the Victoria’s Secret credit card is probably a pretty good card to have. The Shopping Cart Trick Factor: Since this is a Comenity retail card, you should be able to take advantage of the shopping cart trick to get it without a hard pull. It looks like there are other triple point promotions as well, and the fine print on that one says, “Triple points offer cannot be combined with additional bonus reward point promotions.”Īnnual Gifts: Certain retail cards give you a bonus every year on your birthday. Does that get multiplied with the triple points bonus and bring the rewards to 24/36%? And does Victoria’s secret sell prepaid Visa gift cards? I don’t know, though I’m pretty sure the answer to the second question is “No.” AND you also get double points on all bra purchases. That works out to a rate of 4% or 6% in the highest tier.īut wait, there’s more: during your cardmember anniversary month, you get triple points! So that boosts this card to 12%/18%. For the Angel Forever card ($1,000 spent) you get $15 for every $250 spent. For both the Angel Card and the Angel VIP card (which you get by reaching $500 in spend), you get $10 for every $250 spent. Rewards: The Victoria’s Secret credit card offers different tiers based on your spending on it. $15 is less than the $500 rewards that major credit card issuers frequently offer for their products, so the pink credit card is not a winner on this count. Sign-up bonus: The Victoria’s Secret credit card gives you $15 off your next purchase. And by “a lot of readers” I mean “ Elaine in the comments last week.” So here you go, Elaine! Let’s take a look at the features, and please keep in mind that this is a store card valid only at Victoria’s Secret, not a Visa/MasterCard/Amex. Believe it or not, a lot of readers have asked me to write up the Victoria’s Secret credit card.
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