Loft was founded in 1996 as Ann Taylor Loft, an extension of the popular Ann Taylor women’s apparel brand. Loft, while still focusing on put-together looks for home and work, has traditionally offered more relaxed, casual options than its more formal forefather. Many of the more than 500 Loft locations are in suburban shopping malls across the country, though some are in standalone or strip-mall settings.
Given that the average Loft top costs between $30 and $50, and the average dress costs more than $70, many loyal Loft customers are likely looking for ways to save on their casual business wear. The Love Loft Credit Card allows cardholders to earn rewards points on every Loft purchase, but, like most store cards, it is a bad way to make purchases unless you can pay them off immediately.
Loft Card Overall Rating: 3.5/5.0
Although the high cost of Loft clothing may tempt you to pay it off over time, the Love Loft Credit Card is a poor choice for carrying a balance due to the high interest rate. The card’s APR of 26.24 percent can quickly outpace any rewards you may earn on purchases.
Because of the Love Loft Credit Card’s high interest rate, it’s almost a good thing that it can only be used to make purchases at 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).
On the plus side, the Love Loft Credit Card has a reasonable rewards rate. Cardholders can earn 5X points for every dollar spent on Ann Inc. purchases, and 2,000 points are redeemable for a $20 rewards card, for a 5% return. Those rewards, like the card, are only redeemable on Ann Inc. purchases, though they can usually be combined with Loft coupons for additional savings.
While the rewards on the Love Loft Credit Card are fairly competitive, it’s the discounts that can pack the biggest punch for many shoppers. New cardholders not only get 15% off their first purchase when they open and use their card for the first time, but all cardholders get 15% off Ann Inc. purchases on the first Tuesday of every month. Cardholders will also receive an additional discount once a year, with each birthday month earning a coupon for $15 off a purchase.
Approval Requirements & Application
If you’re looking for a card to help you buy work clothes despite having bad credit, this is probably not the card for you. To qualify for a Love Loft Credit Card, you should have at least a fair credit score.
You can apply for a Love Loft Credit Card at any Loft location.
Better Cards to Use at Loft
The Love Loft Credit Card’s benefits are definitely competitive, with a decent rewards rate — but that’s where the card’s usefulness ends. Its high interest rate makes it unsuitable for carrying a balance, and the limited number of stores where it can be used makes it a one-trick pony.
Overall, if you’re looking for a new credit card that can help you save on clothing and other purchases, an all-purpose rewards credit card is a better option. Furthermore, most prime credit cards will offer lower interest rates to those who are prone to carrying a balance.
Cash Back
Although few cash back credit cards offer a higher rewards rate on Loft purchases than the Love Loft Credit Card, an open-loop rewards card allows you to earn — and redeem — rewards for purposes other than filling your closet. To get the most out of your rewards card, choose one with bonus rewards categories that correspond to your spending habits.