rewrite this title Crate & Barrel Credit Cards Relaunch With Enhanced Rewards – NerdWallet

The new Crate & Barrel Visa Signature Card and CB2 Visa Signature Card — now issued by First Bank & Trust and serviced by financial technology company Imprint — are maintaining some key features but also offering elevated rewards in new categories.

Holders of previous versions of Crate & Barrel credit cards, which were issued by Synchrony and ran on the Mastercard payment network, will be upgraded to new versions after visiting Imprint’s site and confirming certain information.

Here’s an overview of how the latest cards compare.

Like the previous cards, the new Crate & Barrel Visa Signature Card and CB2 Visa Signature Card will have no annual fees. The new cards will come with a modest welcome offer for new cardholders: As of this writing, new applicants can get a $50 bonus after spending $1,000 outside of Crate & Barrel’s four brands within the first 90 days of opening the account. (Those brands include Crate & Barrel, CB2, Crate & Kids, and Hudson Grace.)

Ongoing rewards will look slightly different compared to the previous versions of the credit cards:

As with their predecessors, the new Crate & Barrel cards still offer you a choice: You can earn the 10% rewards rate on eligible purchases with the retailer, or you can opt for a deferred interest promotion on qualifying purchases.

If you choose the reward dollars, they’ll automatically redeem as certificates issued in $20 increments once your balance reaches that amount. They are valid for 90 days and may be used to cover in-store and over-the-phone purchases at Crate & Barrel and CB2, and online purchases made on Crate & Barrel and CB2 websites and apps.

Alternately, if you choose the financing option, the new cards offer the following terms:

Note, however, that under deferred interest offers like these, interest is still accruing in the background. That means that if you still have a balance (even a few cents) once the promotional window ends, you’ll owe interest on the entire purchase amount, retroactive to the purchase date, and at the card’s normal ongoing APR. As of this writing, that could be quite expensive indeed, as the cards’ ongoing APR can range up to nearly 34%.

A less risky choice for financing a major purchase at Crate & Barrel would be a true 0% intro APR credit card offer, in which interest is actually waived (not merely deferred) for a period of time. Once these kinds of offers end, you’ll owe interest on only the remaining balance, assuming you have any.