The Lord and Taylor credit card is often peddled to customers at the register. We all know they’re a good department store, but what about their credit card?

Lord and Taylor's flagship store
If you live on the East Coast or Midwest, you know that Lord and Taylor is a nice department store. But what you might not know they are the oldest luxury department store in the US… been around since 1826! Their flagship (and first) store is the location on Fifth Avenue in New York City. There’s no doubt this chain is part of American history and offers a great shopping experience, but do they also offer a great credit card?

Lord and Taylor Credit Card Review: Premier vs. Regular

Both the regular and Premier Lord and Taylor cards are issued by GE Money – a division of GE that issues and manages a wide array of department store credit cards. Here's a look at what they do (and do not) offer...

First of all, here's what they have in common:
  • No annual fee
  • During the cardholder's birthday month a 20% off coupon is given (but there are exclusions)
  • Other coupons and savings events throughout the year giving a 10-15% discount
  • The interest rate is 25.49%
Now here's how they differ:
There is no separate application - everyone starts with the regular Lord and Taylor credit card and after spending $1,500 in a year, the account is upgraded to the "Premier" card (and to keep it at that level, you have to continue spending that same amount every year. This is what the Premier card offers:
  • There is no need to bring the physical savings pass in to get the offer- when payment is made using the Premier, you automatically get the offer
  • A separate service phone number. Given that complaints about GE Money's customer service are prevalent... this benefit of [hopefully] better service is a probably a good thing.
  • Some offers which regular cardholders might not get
Did you notice what's missing?
Coupons and sales are great - and expected - with a store card. But did you notice what is missing from the list? There is no cash back or rebate program!

Unlike many store cards which may give 3-5% back, Lord and Taylor doesn't do that. So basically it seems like the only good reason for signing up would be the savings/promotions and that's about it.

Is it worth it or not?
Depending on how much you spend at their stores, the coupons could be worth the hassle. However I certainly wouldn't go out of my way to spend $1,500 to meet the qualifications/requirements for the Lord and Taylor Premier card, given that the benefits aren't significantly different.

Since this is your basic run-of-the-mill dept. store card it can only be used at the associated store - Lord & Taylor. So anywhere else, the card is basically useless. The high interest rate it comes with I would expect for someone with a bad credit score, but not for who their target audience is.

How you can get 3% cash back at every department store? (sponsored offer)
If you have good credit and want to get a better card that offers 3% cash back at all department stores (including Lord and Taylor) then check out this American Express card. One strategy might be use that card for payment, but still have a Lord and Taylor credit card account so you can get the coupons.