Review of Nordstrom Credit Card


The Nordstrom Platinum Visa was last reviewed on : 15th March 2005

Summary - The Nordstrom credit card is a catalog or store value credit credit from retailer Nordstrom. You earn two points for every dollar you spend at Nordstrom, Nordsttrom Rack Stores and Nordstrom.com. You can only use this card at Nordstrom. You can earn unlimited points. A $20.00 Nordstrom gift certificate is given to you once you have accumulated 2,000 points. If you spend $1,500 at Nordstrom during a calender year, you will be given invitations to special events like in-store sales, fashion shows etc.

There is no annual fee for the Nordstrom credit card. There are four different aprs depending on their assessment of your credit. With each apr level is a floor on how low the apr can go. Hence, you have to be aware that when prime rate gets very low, your apr can only go lower up to a certain level. One of the nice thing about the Nordstrom credit card is that there is no ATM surcharge when you withdraw cash from an ATM machine at Nordstrom.

The Nordstrom will appeal to frequent Nordstrom shoppers.



Positives
  • Earn unlimited points
  • Earn double points at Nordstrom


Negatives
  • Reward is only Nordstrom gift certificate - hence, you have to use all your rewards there.
  • Store value or catalog card - cannot be used elsewhere


Nordstrom Credit Card
Reward Benefits
Reward Formula Earn 2 point for every dollar spent on purchases at Nordstrom
Caps on points Earn unlimited points
Other Benefits
Special notice for Nordstrom events if you spend more $1,500 at Nordstrom in a calender year.
No liability for unauthorized purchases
24/7 customer service
No ATM surcharge when you withdraw cash from ATM machines at Nordstrom
Online account management
Cost/Fees/Interest rates
Introductory rate No introductory apr
Annual Fees No annual fee
Purchase APR Tier 1: Prime Rate plus 3.90% (min 7.90%)
Tier 2: Prime Rate plus 6.90% (min 10.90%)
Tier 3: Prime Rate plus 10.90% (min 14.90%)
Tier 4: Prime Rate plus 14.90% (min 18.90%)
Balance Transfer APR Tier 1: Prime Rate plus 3.90% (min 7.90%)
Tier 2: Prime Rate plus 6.90% (min 10.90%)
Tier 3: Prime Rate plus 10.90% (min 14.90%)
Tier 4: Prime Rate plus 14.90% (min 18.90%)
Cash Advance APR Tier 1: Prime Rate plus 3.90% (min 7.90%)
Tier 2: Prime Rate plus 6.90% (min 10.90%)
Tier 3: Prime Rate plus 10.90% (min 14.90%)
Tier 4: Prime Rate plus 14.90% (min 18.90%)
Penalty/Default Rate APR 24%
Min Finance Charge $0.50
Grace Period 25 days
Balance Calculation Method Average Daily Balance (including new purchases)
Cash Advance fee 3% of cash amount, min $5.00
Late Payment fee $5.00 - up to and inclusing $200
$20.00 - more than $200
$25.00 - if you miss 2 consecutive payments



Go to the reward program credit card directory for more reward credit cards

If you already have this credit card, and want to comment on it, you can post your review

 RSS
RSS Feed For This News

 

Credit Card Reviews and Tips News Home | Archives | Articles | Links | About