– Avenue Premier Credit Card –
Avenue Premier Credit Card: A big reason you’ll be applying for a credit card from Avenue is that if you have poor credit, you can probably get it. Aside from that reason, though, if you’re wondering if Avenue Credit Card is the right card for you, read on. This is all you need to know to make a good choice.
About Avenue Credit Card
This is a Comenity Bank-issued Store rewards card. Store reward cards normally offer discounts on merchandise or purchases of specific brands.
This card is intended for customers with low or restricted credit history, or for “personal use.” The issuer may expect your credit report to include recent or past deficiencies. Tariffs can vary between applicants, but the lowest APR level is 26.49% *.
Features of Avenue Credit Card
Firstly, the credit card on Avenue is only useful for purchases on Avenue. This is a card with an affinity to a single retailer.
In comparison to a typical Mastercard, Visa, or American Express, you won’t be able to use an Avenue card everywhere else you shop.
No grocery stores, mini-markets, gas stations, restaurants, etc. And you won’t be able to use it for any transactions online other than Avenue.com. Note however that the basic credit card on Avenue is called Premier Card on Avenue.
Benefits of Avenue Premier Credit Card
- 20% off your purchase when you’re approved. Meaning, this card is targeted at “impulse buyers” who want to save a few bucks at checkout.
- 40% off any one item on your birthday.
- A $10 Avenue Reward Certificate that arrives with your new card.
- Earn one point for every $1 spent, and receive a $10 Reward Certificate with every $200 spent, implying a cashback rate of 5%. To be clear, this is not real cash, but more on that in a moment.
- Advanced notice of sales, special events, and trends.
- Additional cards at no extra cost.
- A detailed, monthly billing statement of your purchases.
Avenue Elite Credit Card
If you spend $400 in 12 months on your Avenue Premier card, Avenue bumps you to the Avenue Elite card.
Main Benefits of Avenue Elite Credit Card
- Earn Elite Status when you spend $400 in 12 months*
- $20 Rewards Certificate with your new card
- Earn 1 point for every $1 spent, receive a $10 Rewards Certificate for every 200 points earned*
- Elite Bonus Point Days
- 50% off 1 item during your birthday month.*
- FREE STANDARD SHIPPING when you receive a Reward Certificate.*
- Access to Elite Customer Service Line
- Advanced notice of sales and special events
Key takeaways of Avenue Credit Card
- High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 27.24%
- No annual fee. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don’t have to pay an annual fee for the privilege.
- Fair or better credit is required. You stand a chance of qualifying if your credit score is not below 650.
Avenue Credit Card Pros and Cons
- No annual fee.
- Cardholders can earn rewards on their purchases.
- Avenue Credit Card reports to multiple credit bureaus.
- Cardholders can earn rewards on their purchases.
- Higher than average purchase APRs.
- It does not offer a signup bonus.
- You don’t earn rewards on every purchase.
- It does not include any credit card rewards.
There is not an introductory APR for this card, so the lowest or standard rate may apply immediately or after the grace period for eligible purchases. There is no annual fee for this card.*
This card is a store or brand-specific rewards card, where you can expect rewards, gift certificates, or even rebates for your purchases, according to the offer details.
Credit Record Needed
Applicants should have a recently clean credit record based on FICO’s score recommendation, with no recent negative marks on their report.
The card issuer can expect limited discrepancies, though. For a higher probability of acceptance, a FICO credit score of 617 is recommended but this is not necessary.
There are several other factors that may also be considered by that issuer when making approval decisions.
While your FICO score is typically a very important consideration, consider other areas that can influence an approval decision.
Since a credit score alone doesn’t guarantee or mean approval for any product from Comenity Bank.
The listed grace period for the Avenue Credit Card is 25 days * or more. So interest charges for new purchases will not be applied during this time if the balance is paid in full by the due date. This is not a traditional credit card but a store or catalog card.
This card has a poor acceptance or approval rate. This may be because applicants changed their decision after they wanted a traditional credit card like a Visa, Mastercard, Discover Card, or American Express card. Additionally, if your FICO score is equal to or above 617, then your approval chances may be even greater.
Good news for applicants not wishing to wait for approval status. This card offer will make approval decisions instantaneously. Remember, this may not be true in all cases where the information on the application may not be complete, questionable or otherwise.
The system will usually show your approval status shortly after you submit your application when you apply online. Credit cards usually take 1 or 2 weeks to arrive upon acceptance of your application.
- Visit the Avenue Credit Card website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
- Check the information is accurate and submit your application.
If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.
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