Pros: Paid back in a coupon when you reach certain limits of charging.
Cons: 22.9% interest rate if you carry a balance!
It's no secret that I *love* to shop. Shopping for clothes is such a mixed bag (hah!) for me. On one hand, I love when the stores come out with their new lines for each season. On the other hand, I hate the stress that goes along with wondering if I'm still the same size I was last year. (And this year, I'm not which just royally ticks me off.)
The nice thing about Fashion Bug is that they carry clothes for all shapes and sizes. Whether I'm a 2 petite (which I'm not) or a 32W (not this either), I'm sure to find clothes that appeal to me on both a professional and personal basis.
In addition to clothing, Fashion Bug sells jewelry (my biggest downfall), shoes, belts, and purses.
So enough about Fashion Bug, the store. Let's talk about Fashion Bug, the charge card.
Applying for a Fashion Bug Charge is easy, that is, if you leave your home. At this time, you can only apply for a Fashion Bug Charge by completing an application that can be found in one of their brick and mortar stores. You do have the option of getting approved on the spot or you can take the application home and mail it in.
Much like every other clothing store charge card, Fashion Bug follows these types of standards:
* 22.9% annual percentage rate
* No finance charges added if you pay your balance off within 25 days of the billing statement
* Anywhere from 27-32 days within a billing period
* Monthly statement that details purchases, payments, credit limit, finance charges, statement closing date, payment due date
One of the best perks of the Fashion Bug Charge is their rebate program. Every quarter, they look at what you've charged to your card and give you back 5% in the form of a coupon that can be used on your next purchase. There are no minimum purchase requirements (well, you can't get cash back), and the coupon is good for two months following its issue. For example, in January, February, March, if I charge a total of $300, I'll receive a coupon in my April statement for $15.00.
So what's the downfall of having a Fashion Bug Charge Card? Well, if you don't pay off the balance every month, you're going to have to pay a finance charge calculated off of an apr of 22.9%. That seems a bit outrageous to me.
Also, at this time, Fashion Bug doesn't have an online store so this credit card can only be used in the brick and mortar store. I know that they are looking to move to something online, but I'm not sure what it is yet.
Just recently, Fashion Bug decided to take a layered approach to their charge card. It used to be that every one received the same card. It was a no annual fee card that offered all of the benefits (and detriments) of the things I've outlined above.
In the past few months, they've created the FB10, secured, and the FB10 premium card. The differences? Let's start with the easiest.
The secured card is just like it sounds. You deposit a certain amount of funds with them and you're allowed a certain credit limit for Fashion Bug charges. If you're scratching your head and wondering why anyone would do this, well, it's an opportunity for those with not so stellar credit (or no credit), to build up a nice credit entry.
The FB10 and FB10 premium operate in similar fashion. About a year ago, Fashion Bug rolled out the FB10 (Fashion Bug - 10%) card. For a fee of $25.00 annually, you can get 10% off of every purchase you make - regardless of any other specials going on.
The premium FB10 operates the same way only you receive a couple other things: a birthday card with some sort of savings certificate, subscription to their fashion magazine, second year of membership free, and $30 in coupons (3-$10 to be used, 1 for each $25 purchase). Of course, your annual fee is a bit more pricier - $35.
If you're a regular shopper of Fashion Bug, the FB10/FB10 Premium Card makes the most sense. If you're an occasional shopper, the standard card is your best bet. Personally, I go with the FB10 because I don't think that the extra add-ons in the premium is worth an extra $10 to me.
Wondering if I've run into any problems with my charge card? In the ten plus years that I've had it, I've never had an issue with Fashion Bug posting my payment late, entering bad data into my statement detail, or not getting my rebate coupons. In fact, I've never had the opportunity to contact customer service. I've had no reason to.
So that's it. Almost every thing you may or may not have wanted to know about a Fashion Bug Charge Card!