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Torrid Credit Card Review (2024)
When considering a new credit card, especially one tied to a specific store, it’s crucial to weigh the benefits and drawbacks before making a decision. The Torrid Credit Card, while marketed as an option for Torrid shoppers, has garnered mixed reviews. Here are six things you should know about the Torrid Credit Card, featuring real insights from users on Reddit.
Torrid Credit Card at a Glance
- Annual Fee: $0
- APR: 29.99% variable
- Credit Limit: Varies based on creditworthiness
- Rewards Program: 5% discount on every Torrid purchase
- Reports to Credit Bureaus: Monthly
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1. Mixed Reviews from Real Users on Reddit About the Torrid Credit Card
Real users on Reddit have shared their experiences with the Torrid Credit Card, and opinions are divided. Some people find it useful for building credit and getting discounts, especially when paying off the balance in full each month. Others, however, are frustrated with the high APR, late fees, and sudden card closures.
Few-Savings8848: “They suddenly closed my card after 2 months of not using it after using it consistently for 4 months in a row and paying it off before the due date (no interest) really sad about that.”
StormzNeverLast: “If you are trying to improve your credit score this card does report to credit bureau monthly. This is both good and bad. If I make a purchase on this card my score drops and goes back up the next month (per credit karma and credit sesame). I can use my visa for a large purchase and my score barely changes. This is just my credit and experience so obviously your situation and results will be different. This is a card you should have if you plan to pay the entire balance monthly. If you only make a payment the interest will outweigh the discount.”
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2. Joining Torrid Rewards Without The Points
To apply for the Torrid Credit Card, you need to join the Torrid Rewards program. However, the card itself does not earn Torrid Rewards points. This can be confusing and disappointing for some users who expect their card purchases to earn points. Instead, you get a 5% discount on Torrid purchases.
What is Torrid Rewards?
Torrid Rewards is a loyalty program designed to offer benefits to frequent shoppers at Torrid. By joining, you can earn points on your purchases, which can then be redeemed for discounts on future purchases. Members also receive exclusive offers, early access to sales, and special birthday rewards.
Benefits of Joining Torrid Rewards
- Earn Points on Purchases: For every dollar you spend at Torrid, you earn points that can be redeemed for discounts.
- Exclusive Offers: Members get access to special deals and promotions that are not available to non-members.
- Early Access to Sales: Be the first to shop Torrid’s sales and grab the best deals before they’re gone.
- Birthday Rewards: Enjoy a special treat on your birthday, just for being a Torrid Rewards member.
How to Join Torrid Rewards
Joining Torrid Rewards is easy and free. You can sign up online at Torrid’s website or in-store at any Torrid location. Once you’re a member, you’ll start earning points on every purchase and enjoy all the benefits that come with being part of the program.
3. High APR and Potential Fees of the Torrid Credit Card Can Add Up Quickly
One of the major downsides of the Torrid Credit Card is its high APR. At 29.99%, carrying a balance can lead to big interest charges. Also, late fees and other penalties can add up quickly if not managed properly. Many users on Reddit have pointed out these drawbacks, making it clear that you need to be careful with this card.
Understanding Torrid Credit Card's High APR
The Torrid Credit Card has an APR of 29.99%, which is higher than many other credit cards. This means that if you carry a balance from month to month, you will incur significant interest charges. It’s important to pay off your balance in full each month to avoid these costs.
Breakdown of Fees Associated with the Torrid Credit Card
- Late Fees: If you miss a payment, you could be charged a late fee. These fees can add up quickly and negatively impact your credit score.
- Returned Payment Fees: If a payment is returned, you may be charged a fee. This can happen if there are insufficient funds in your account.
- Overlimit Fees: Exceeding your credit limit can result in additional fees. Always monitor your spending to avoid these charges.
Tips to Avoid High APR and Fees
- Pay Your Balance in Full: To avoid interest charges, make sure to pay your balance in full each month. This way, you won’t accrue any interest, even with a high APR.
- Set Up Payment Reminders: Use reminders to ensure you never miss a payment. This can help you avoid late fees and keep your credit score in good standing.
- Monitor Your Spending: Keep track of your purchases to avoid going over your credit limit. This will help you avoid overlimit fees and manage your credit responsibly.
4. Torrid Credit Card Offers In-Store Discounts and Exclusive Offers
The Torrid Credit Card offers a 5% discount on every purchase made in-store and online at Torrid. This can add up to significant savings if you shop at Torrid a lot. Additionally, cardholders get exclusive offers and early access to sales, making it a great tool for loyal Torrid customers.
How the 5% Discount At Torrid Works
Every time you use your Torrid Credit Card, you receive a 5% discount on your purchase. This discount applies to both in-store and online purchases, making it easy to save on all your favorite Torrid items. The discount is automatically applied at checkout, so you don’t have to worry about remembering to use a coupon or promo code.
Exclusive Offers for Torrid Credit Cardholders
Cardholders receive access to exclusive offers that are not available to non-cardholders. These offers can include special discounts, promotions, and early access to sales. By having the Torrid Credit Card, you can take advantage of these deals and save even more on your purchases.
Early Access to Sales
One of the perks of having a Torrid Credit Card is getting early access to sales. This means you can shop the sales before they are open to the general public, giving you a better chance to snag the best deals and your favorite items before they sell out.
Benefits of Shopping In-Store with the Torrid Credit Card
- Immediate Savings: The 5% discount is applied instantly at checkout, so you see the savings right away.
- Exclusive In-Store Promotions: Cardholders may receive special in-store promotions that are not available to other shoppers.
- Personalized Shopping Experience: By shopping in-store, you can take advantage of personalized service from Torrid staff, who can help you find the best deals and items that suit your style.
Online Shopping Benefits with the Torrid Credit Card
- Convenience: Shop from the comfort of your home and still enjoy the 5% discount.
- Exclusive Online Offers: Some promotions and discounts are available exclusively to online shoppers with a Torrid Credit Card.
- Early Access to Online Sales: Just like in-store, cardholders get early access to online sales, allowing you to shop the best deals first.
5. Torrid Credit Card Helps Build Credit But With Some Drawbacks
The Torrid Credit Card can help build your credit score by reporting to all three major credit bureaus. If you pay off your balance each month, you can avoid high interest charges and benefit from the card’s positive impact on your credit history. However, be aware that some users have reported that their credit score drops temporarily after making a purchase but goes back up the next month.
How the Torrid Credit Card Helps Build Credit
By using the Torrid Credit Card responsibly, you can build a positive credit history. Comenity Bank, the issuer of the card, reports your payment history to the three major credit bureaus: Experian, Equifax, and TransUnion. On-time payments and low credit utilization can improve your credit score over time.
Understanding the Temporary Credit Score Drop
Some users have reported a temporary drop in their credit score after making a purchase with the Torrid Credit Card. This is due to the increase in credit utilization. However, as long as you pay off the balance in full each month, your credit score should recover and improve over time.
Drawbacks to Consider
- High APR: As mentioned earlier, the high APR can lead to significant interest charges if you carry a balance. This can negate the benefits of using the card to build credit.
- Credit Score Fluctuations: Temporary drops in your credit score can be concerning, but they are typically short-lived if you manage your card responsibly.
- Limited Rewards: While the Torrid Credit Card offers a 5% discount, it does not provide other rewards or cashback benefits that some other credit cards offer.
6. Hard-to-Reach Customer Service for Torrid Credit Card Can Be Frustrating
Many cardholders have reported problems with reaching customer service, which can be frustrating if you have any issues with your card. This can lead to delays in fixing problems and more stress for users. Negative experiences regarding customer service are common, with users feeling that store credit cards, including Torrid’s, are not worth the hassle and prefer credit cards from big banks.
Common Torrid Customer Service Issues
Users have shared various complaints about the customer service provided for the Torrid Credit Card. Some of the most common issues include long wait times, difficulty in getting clear answers, and unhelpful responses. These problems can make it hard to resolve issues quickly and efficiently.
Impact on Torrid Credit Cardholders
The difficulty in reaching customer service can have a significant impact on cardholders. Unresolved issues can lead to late payments, additional fees, and even damage to your credit score. For many users, the stress and frustration of dealing with poor customer service outweigh the benefits of having the card.
Tips for Dealing with Customer Service
- Document Everything: Keep records of all your communications with customer service, including dates, times, and the names of representatives you spoke with.
- Be Persistent: If you’re not getting the help you need, don’t hesitate to call back and speak to a different representative.
- Use Multiple Channels: Try reaching out through different channels, such as phone, email, and social media, to get a quicker response.
While the Torrid Credit Card offers some benefits, the hard-to-reach customer service can be a significant drawback. If you value responsive and helpful customer service, you might want to consider other credit card options. For those who still choose the Torrid Credit Card, being prepared to navigate potential customer service challenges is essential.
Compare the Torrid Credit Card to Other Credit Cards
When deciding on a credit card, it’s essential to compare your options to ensure you’re getting the best deal. Here’s how the Torrid Credit Card compares to two other credit cards suitable for individuals with fair to good credit: the Discover it® Secured Credit Card and the Capital One Platinum Credit Card.
Torrid Credit Card vs. Discover it® Secured Credit Card
The Discover it® Secured Credit Card is a popular option for those looking to build or rebuild their credit. Here’s how it compares to the Torrid Credit Card:
- Annual Fee: $0 (Discover) vs. $0 (Torrid)
- APR: 28.24% (variable) (Discover) vs. 29.99% (Torrid)
- Rewards: 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter); 1% on all other purchases (Discover) vs. 5% discount on all Torrid purchases (Torrid)
- Benefits: Cash back match for the first year, no annual fee, reports to all three major credit bureaus (Discover) vs. exclusive offers, early access to sales, reports to all three major credit bureaus (Torrid)
- Credit Limit: Based on your security deposit (Discover) vs. determined by the issuer (Torrid)
Overall, the Discover it Secured Credit Card offers a more flexible and rewarding option with its cash back program and no annual fee. It also has a slightly lower APR, making it a more affordable choice for those who may carry a balance.
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Torrid Credit Card vs. Capital One Platinum Secured Credit Card
The Capital One Platinum Secured Credit Card is another good option for individuals with limited/bad credit (see rates & fees). Here’s how it compares to the Torrid Credit Card:
- Annual Fee: $0 (Capital One) vs. $0 (Torrid)
- APR: 29.99% Variable (Capital One) vs. 29.99% (Torrid)
- Rewards: None (Capital One) vs. 5% discount on all Torrid purchases (Torrid)
- Benefits: Access to a higher credit line after making your first 6 monthly payments on time, reports to all three major credit bureaus (Capital One) vs. exclusive offers, early access to sales, reports to all three major credit bureaus (Torrid)
- Credit Limit: Determined by the issuer (Capital One) vs. determined by the issuer (Torrid)
Overall, the Capital One Platinum Secured Credit Card offers a straightforward option for building credit with no rewards but has the potential for a higher credit limit after consistent on-time payments. It also has a slightly lower APR, making it a more affordable choice for those who may carry a balance.
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Our Expert Takeaway: Is the Torrid Credit Card Right for You?
The Torrid Credit Card can be a good option for frequent Torrid shoppers who can pay off their balance in full each month. It offers a 5% discount on purchases and helps build credit by reporting to the major credit bureaus. However, the high APR and potential customer service issues make it less appealing compared to other credit cards. If you are looking to build your credit, consider a secured credit card or other options that offer better terms and benefits.
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Torrid Credit Card FAQs
Does the Torrid credit card charge an annual fee?
No, the Torrid Credit Card does not charge an annual fee, making it a cost-effective option for frequent Torrid shoppers.
What is the minimum payment for Torrid credit card?
The minimum payment for the Torrid Credit Card is typically $25 or 3% of your balance, whichever is greater. Always check your statement for the exact amount.
How much is the late fee for a Torrid credit card?
The late fee for a Torrid Credit Card is up to $40. To avoid this fee, make sure to pay at least the minimum payment by the due date.
What credit score do you need for a Torrid card?
You generally need a fair to good credit score, around 580 to 670, to qualify for the Torrid Credit Card. Approval also depends on other factors such as your income and credit history.
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