If you tend to shop at the same department stores, you may want to look into obtaining a department store-specific credit card. These store credit cards often offer competitive interest rates and rewards programs that can provide you with future discounts. With four different credit cards to pick from, Nordstrom FSB offers many different options for its customers. One of those options is the Retail credit card from Nordstrom, which can only be used at Nordstrom Department Stores, and cannot be used to make purchases elsewhere.
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The three other types of credit cards available from Nordstrom include a Visa Signature card, Visa Check card, and Nordstrom Debit card. All of these cards offer different benefits to customers, so it is important to look at all of the available options before making a decision on which card to apply for.
Rates and Fees for the Nordstrom FSB Retail Credit Card
Your annual percentage rate for the rate for the retail credit card from Nordstrom depends on your credit history and credit score. There are four different rates that are separated into tiers.
Each of the tiers has its own designated interest rate, beginning with Tier 1 and a rate of 10.9%.
Tier 2 offers an annual percentage rate of 14.9%, Tier 3 has 18.9% and Tier 4 is the highest at 22.9%.
If you are late with your payment at any time, you may be subject to the penalty annual percentage rate, no matter what tier you were initially part of. The Nordstrom FSB Retail credit card’s penalty rate can be as high as 27.99%
There is no annual fee for the Nordstrom Retail credit card. Since the card can only be used at Nordstrom Department Stores, it is not possible to take out a cash advance and be charged a cash advance fee.
A recent CNN Money article, “The end of credit cards is coming,” claims that credit cards are being used less and less as consumers continue to use their smartphones to make purchases. Perhaps department stores will figure out a way to integrate their credit cards into smartphone apps in the near future.
Reward Points with the Nordstrom FSB Retail Credit Card
With each purchase you make using the Nordstrom Retail card, you can earn two rewards points for each dollar spent. After you build up 2,000 points, you will automatically receive a $20 rewards certificate for use in the store.
You can earn points with purchases both in store and online at the Nordstrom website.
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