If you are a fan of shopping for apparel and accessories at NY & Co, chances are you've been invited to apply for a store brand credit card. Before opening any new credit card account, it's important to educate yourself about the full scope of terms and conditions before moving forward. Learn important information about this particular account.
NY & Co Credit Account Overview
The NY & Co credit card is referred to as the brand's RUNWAYREWARDS credit card. The account has no annual fee. You can only use it to make purchases from NY & Co.
Comenity Bank issues this card. You can apply for an account in-store or via the online application. New accounts are subject to credit approval. According to CreditDonkey, many of Comenity Bank's cards are fairly easy to obtain. WalletHub indicates a 'fair' credit score is necessary for approval.
As with many stores that have their own branded credit cards, NY & Co entices customers to open an account with a variety of special offers via the store's rewards program. Benefits offered with this account include:
- 15 percent off on your next purchase when you open and use a RUNWAYREWARDS credit card account
- Optional digital card allows you to use your phone to make purchases rather than having to carry your card
- Gives rewards credit that can be used toward future purchases ($10 - $20 depending on reward status)
- Discount coupons ($15 to $20 depending on your reward status) on your birthday, assuming your account is in good standing and you have used the card within the last year
- Early access to sale prices for certain promotional events
- Monthly 'Trendsetter Savings Pass' discount you can use on recently introduced merchandise
- Free shipping to the store
- Exclusive free shipping days (for home shipments) for purchases made using the card via the nyandcompany.com website
- Free subscription to the store's monthly 'Style Guide' email newsletter
- Other special perks and promotions exclusively for credit card account holders
Key Account Terms
Specific details about this account are explained in the cardholder agreement. Be sure to read the agreement completely before you open and use this (or any!) credit card account. An overview of key account details include:
- This account has a variable interest rate, which means the rate goes up or down depending on the prime rate.
- The annual percentage rate (APR) for this account is 27.24 percent as of March 2018.
- The daily periodic rate is 0.07463 percent (also as of March 2018).
- The daily balance method is used to calculate your account balance.
- There is a minimum interest charge of $1. So, if the total interest due on your account in any month is more than zero but less than $1, a $1 fee will be assessed.
- If you pay the entire balance on your account by the due date, you will not have to pay an interest that month.
The account has a 25-day grace period.
- The fee for a late payment is $38.
- If you pay with a check and your check gets returned, a $25 fee will be assessed.
NY & Co. Credit Card Payments
You can make payments online via the Comenity Bank web page specific to this card, assuming you sign up for an online account center. Once you sign up for your online account center, you can use it to perform various account maintenance tasks, such as updating your profile or adding authorized users. You will also have an option of enrolling in paperless billing. Mail check or money order payments to Comenity Bank, P.O. Box 659728, San Antonio, TX 78265-9728.
Making a Wise Decision
If you are a frequent NY & Co shopper and would like to earn rewards for the purchase you make in the store, getting one of the brand's credit cards can be a good option. However, you'll really only save money this way if you use the card wisely and pay your balance in full each month before the payment is due. Otherwise, interest charges and late fees will become costly very quickly. Only you know if you have the discipline to use the card to your advantage.