Nordstrom Credit Card Agreement: What You Need to Know

If you`re a frequent shopper at Nordstrom, you may have been offered their store credit card. Like any credit card, it comes with an agreement that outlines the terms and conditions of use. Here`s what you need to know about the Nordstrom credit card agreement.

Interest Rates

The interest rates for the Nordstrom credit card can vary depending on your creditworthiness and other factors. The annual percentage rate (APR) ranges from 11.15% to 23.15%, with a variable APR for purchases and balance transfers. Cash advances have a fixed APR of 25.15%.

Late Fees

If you miss a payment or don`t pay the minimum required, you`ll be charged a late fee. The Nordstrom credit card late fee is $38, but it can be waived if you call customer service and explain your situation. However, it`s best to avoid late payments altogether to avoid additional fees and damage to your credit score.

Rewards Program

The Nordstrom credit card offers rewards for purchases made using the card. You earn two points per dollar spent at Nordstrom and Nordstrom Rack stores, as well as online at nordstrom.com and hautelook.com. You can use your points to redeem Nordstrom Notes, which are $20 gift cards that can be used on future purchases. There are also other benefits and bonuses available, such as early access to sales and exclusive events.

Credit Limit

Your credit limit for the Nordstrom credit card may vary depending on your creditworthiness and other factors. The maximum credit limit is $5,000, but it`s possible to get a lower limit based on your credit history and income. It`s important to stay within your credit limit to avoid over-limit fees and damage to your credit score.

Credit Score

Applying for the Nordstrom credit card will result in a hard inquiry on your credit report, which can temporarily lower your credit score. However, making timely payments and keeping your balance low can help improve your credit score over time. On the other hand, missing payments and carrying a high balance can hurt your credit score and make it harder to get approved for credit in the future.

In Conclusion

The Nordstrom credit card can be a great tool for frequent shoppers who want to earn rewards and have access to exclusive benefits. However, it`s important to read and fully understand the credit card agreement before applying and using the card. Paying on time and keeping your balance low can help you maximize the benefits of the card while avoiding fees and damage to your credit score.