If you shop regularly at New York & Company, you may have been asked at the register about applying for a NY&Co Rewards Credit Card. While this card can be great for many shoppers, it’s not for everyone. Here’s a look at the advantages of the card, along with its associated fees and information, so you can decide whether or not to apply for it.
The NY&Co Rewards Credit Card Basics
The NY&Co Rewards Credit Card is a store card that can be used in New York & Company brick-and-mortar retail locations as well as online. If offers a $10 reward coupon for every $200 you spend with them.
The NY&Co rewards coupons are allowed to be combined with other offers, such as the 25 percent discount coupon you receive for your birthday. There are no minimum purchases necessary to use the coupons.
In addition to the shopping rewards, the card offers free regular shipping and early access to special sales, so you get first pick of the merchandise. You also receive the store’s regular newsletter updating you on events and new items.
Card holders can manage their cards online including:
- updating personal and contact information
- viewing statements and transaction histories
- paying bills
The website is accessible by mobile devices as well as by regular computer.
The NY&Co Rewards Platinum Credit Card
New York & Company also offers a Platinum Rewards Credit Card to certain shoppers. To qualify for this card, you must spend at least $400 per year online or in their stores and maintain your card in good standing.
The Platinum Rewards Credit Card provides the same benefits as the regular card as outlined above, with a few differences. Platinum card holders receive a $20 reward coupon for every $200 they spend at New York & Company. They also receive a $30 bonus reward coupon on their birthdays.
Information You Should Know About Both Cards
There is no annual fee for either the regular NY&Co Rewards Credit Card or the Platinum Rewards Credit Card. The interest rate (APR) for both cards is currently 24.99 percent, and it is a variable rate that adjusts with the Prime Rate. This means that if the Prime Rate, the average lending rate that banks use for all kinds of loans nationally, goes up, the interest rate on the NY&Co card could rise too. There is no special introductory rate for new card holders. Balance transfers are not allowed.
The NY&Co Rewards Credit Card is backed by Comenity Bank. They charge up to $35 for late payments to the card, but there is no fee for being over your credit limit. Comenity offers a 25-day grace period for payments. Late payment can result in a lowered credit limit, and chronic missed payments can cause the card to be cancelled. Credit limits vary with the applicant’s credit status.
There is no online support for the NY&Co Rewards Credit Card; card holders with questions must telephone a toll-free number on their cards for assistance. While some card holders have had good luck with customer service on their card, others report difficulty with some of the apparently outsourced representatives.
The Verdict
If you do a lot of shopping at NY&Co and are good at paying your card balances on time and in full, this could be an ideal card for you. Otherwise, the high APR can lead to accruing a very large debt quickly, which can affect your credit score and even cause the card to be cancelled. If you are looking to build your credit and handle the card responsibly, this could be a good card to have as it does not generally require super high credit scores for approval. However, since the card is only able to be used at New York & Company, some shoppers may be better served by a more general rewards credit card that can be used anywhere, with other types of rewards or cash back.
