American Eagle Outfitters, Inc. (AEO) is a clothing and accessories brand that targets teen and college students ages 15-25, both male and female, although older adults wear these clothing as well. American Eagle is known for its low-rise jeans, polo shirts, sweatshirts, outerwear, and much more. If you’re a frequent shopper there, we’ve put together a great guide on why you might want to consider the American Eagle credit card. Obviously there are pros and cons, but at least now you will be able to make an informed decision.
Founded by Pittsburgh native Jerry and Mark Silverman, they started as Silverman Menswear, a subsidiary of Retail Ventures, Inc. The first American Eagle store opened in Michigan in 1977. In 1991, the brothers sold their interests in Silverman Menswear to focus on the American Eagle Outfitter brand. Today there are almost a thousand AEO stores in the US, along with more than 100 branches of the Aerie brand, which also owns the company. This is an intimate apparel line launched by American Eagle in 2006. Sixty-seven of the Aerie stores are located in AEO stores.
Store card or VISA
An American Eagle credit card can refer to the store credit card or a Visa card. By registering for an AEO credit card, you are automatically enrolled in AERewards, the company’s loyalty program. The benefits are described below. Women who get an AEO credit card can get a free bra if they buy five more with their American Eagle card at Aerie stores.
The store card is easier to acquire. Even if you have a low credit score, you can still qualify for the AEO store card. This can only be used at AEO or Aerie stores, not at other retailers or for ATM withdrawals, but it will help you build your credit and save on all your AEO purchases. The store card implies a higher APR of 25.24%. It can be paid online, by mail, or by phone.
The American Eagle Visa card is more difficult to obtain, usually requiring a credit score of at least the mid-600s. This is an ordinary Visa card valid for all merchants that accept credit cards.
These cards are issued by Synchrony Financial Bank, which supports several major retail accounts. It was previously known as GE Capital Retail Bank until June 2014, when the name was changed to Synchrony Bank. This was to avoid confusion with a similarly named financial institution called GE Capital Bank. Synchrony is headquartered in Draper, Utah, and controls assets valued at more than $ 39 billion.
Either version of the American Eagle credit card comes with a generous rewards program. This includes a 25-day grace period for purchase payments. When these credit cards are used at any AEO store, you earn savings points for every $ 25 purchase at AEO or Aerie stores. Savings bonds are 4% of the purchase price. The savings reward level increases with the total points. With 100 points, buyers get 15% off AEO merchandise, 20% off 200, 30% off 300, and 40% off 500 points.
The AEO Savings Program also allows a 15% discount on your first online purchase on the American Eagle or Aerie websites, and $ 10 savings for every 10 points earned. Exclusive cardholders can also participate in quarterly sales events and a 20% off birthday coupon.
There is no annual fee neither with the store nor with the credit card. Consumers can order one or both online (https://www.onlinecreditcenter2.com/eapplygen2/load.do?cHash=934578928&subActionId=1000) or at any AEO point of sale. Those who do not get approved for the Visa can still qualify for the store card.
The Visa card has four levels of credit risk: Secured, Platinum, Platinum Rewards, and Signature. Each provides generous spending limits, a low variable annual percentage rate, zero liability for fraud, and the same benefits as the store card. The Visa also includes an additional bonus point and 1% savings for every $ 100 spent at non-AEO retailers.
Interest and limits on different levels of Visa card:
- INSURED – $ 250
- PLATINUM- $ 500 to $ 25,000
- PLATINUM REWARDS- $ 500 to $ 25,000
- SIGNATURE- $ 5,000 to $ 30,000
Approved percentage rates start at 24.24%, but with enough credit they can be as low as:
- INSURED -…