Why the Victoria’s Secret Angel Credit Card is a Bad Deal

Victoria’s Secret is an American retailer of women’s wear, lingerie and beauty products. Victoria’s Secret is known for its fashion shows, most notably the annual Victoria’s Secret Fashion Show, and for its catalogs, both of which feature top fashion models. Just like many retailers who offer their own store credit card, so does Victoria’s Secret. The Victoria’s Secret Angel Credit Card can be used in the store and in their affiliate stores like Bath and Body Works.

This article provides a review of the Angel Credit Card by looking at the APR, Rewards Program, and applicable fees. Such details leads us to the conclusion that there are much better cash back cards like the, Chase Freedom or AMEX that would be better. Some of the key points about the angel card that make it a not so hot deal are as follows: 24.99% interest rate, $1 fee to get a paper statement, can only be used at Victoria’s Secret and affiliated stores, and other cash back cards provide better rewards. Take a look at the card details and see if you agree with our conclusion.

Introductory Rates & Offers
The Annual Percentage Rate for the Victoria’s Secret card is incredibly high. Currently it comes in at a whopping 24.99%. Thanks, but no thanks. As with most cards, the Angel credit card does come with a 25 day grace period to pay your bill in full and avoid interest charges:

Your due date is 25 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month. Effective July 1, 2010. The 24.99% maximum Annual Percentage Rate will be removed from your account. This means that the Annual Percentage Rate on your account can increase above 24.99%, upon an increase in the Prime Rate.

The Victoria’s Secret Angels Rewards Program allows you to earn points on the dollars you spend. You will be automatically enrolled in the Angels Reward Program when you make your first purchase. You will earn one Point for each $1.00 you spend as long as your account is in good standing. Purchases include goods and/or services made minus any purchase returns, refunds or credit adjustments. Points will not be awarded for unauthorized charges. Points awarded for purchases that are returned or refunded or otherwise adjusted will be deducted from your Point total, and such deductions will be reflected in the next applicable billing statement.

Once you accumulate 250 Points, you will receive a reward of $10. The reward is good toward the future purchase of merchandise from any Victoria’s Secret store, catalog or web site. This is probably the best part of the card, but unless you shop at Victoria’s Secret more than Dr. Ruth, it just isn’t enough to make this card a winner.

Rates & Fees

  • Annual Fee: None
  • Processing Fee: You will be charged $1.00 for each paper monthly billing statement mailed to you. You will not be charged this fee if you have registered for online access to your account and have agreed to receive your monthly billing statement solely electronically via e-statements.
  • Late Payment: $20 if balance is less than or equal to $249.99;
    $25 if balance is $250 or greater
  • Returned Payment: $25
  • Document Fees: Statement copy: $6.00, Sales/Credit Draft Copy: $6.00, Check/Money Order copy: $6.00