Have you ever noticed how our favorite YouTube Influencers, Instagram Public Figures, and some entertainers eventually sell out for money? That is kind of what happened with the Hot Topic credit card.
Hot Topic is a pretty cool store. Then they got into bed with Comenity Bank to issue their Hot Topic Guest List Credit Card and they promptly turned around and happily screwed the cardholders.
You should apply for the Comenity Hot Topic Card if you are looking for extremely high interest rates, low-value rewards, and shitty customer service. Choosing a more traditional card over the Hot Topic Comenity Bank Card could save your credit score from damage and save you thousands of dollars in interest payments.
Hot Topic Guest List Credit Card
The Hot Topic Credit Card has a very high variable APR rate, low-value rewards, limited use, and bad customer service.
Annual Fee: $0
APR: 26.49% Variable
Credit Needed: Fair/Good/Excellent
No Annual Fee
Reports To Major Credit Bureaus
Rewards Low Value
Poor Customer Service
This card has a very high variable APR. You must redeem rewards within 45 days from the time you earn them.
A major problem with this card is the issuer, Comenity Bank, which has a terrible customer service record and a long history of complaints and problems.
They have even been known to close accounts if they don’t carry an interest-bearing balance. When an issuer closes a revolving credit card account is it can hurt your credit score.
What Is The Hot Topic Credit Card?
Comenity Bank issues the Hot Topic Guest List Credit Card for use only at the Hot Topic stores and their website.
You will not find a Visa, MasterCard, Discover, or American Express, logo on this card.
Rewards, for a Little While
Customers receive 1 reward point for every dollar they spend.
Once they reach 100 points Hot Topic automatically issues a $5 reward THAT EXPIRES 45 DAYS FROM THE DATE YOU REACHED 100 POINTS.
The Guest List credit card from Hot Topic also offers 15% off of your first purchase and two $20 rewards a year when you spend $50.
Of course, everything expires 45 days after being issued.
There are Guest List Anniversary discounts along with discounts during your birthday month.
Can you guess when these expire? Yep, shortly after they are issued!
You don’t need a Hot Topic credit card to get these rewards. You can sign up for free as a guest list member and get the exact same rewards.
Basically what you get is a high-interest card that you can only use at Hot Topic.
Regardless of your credit score, there are many better alternatives to the Hot Topic Guest List option.
Who Is Comenity Bank?
Comenity Bank and Comenity Capital Bank are owned by Data Alliance and together manage multiple customer loyalty programs.
They have a reputation for canceling the cards of customers who pay off their credit cards regularly and don’t pay interest.
It doesn’t matter how much you charge on your card, or how long you have had it. If they are not making money in the form of interest or late payments, they will cancel it!
Many Comenity Bank Reviewers complain about how their credit score was affected by having their revolving credit account closed for no reason.
Comenity Hot Topic Card Basics
Below are some of the basic features of the Comenity Hot Topic credit card:
- Card type: Unsecured
- Interest rate: 26.49% Variable
- Annual fee: $0
- Rewards: Earn 1 point for every $1 spent, automatic reward of $5 for every 100 points
- Security deposit: None
- Foreign transaction fee: N/A
- Credit reporting: Reports payment history to all three credit bureaus.
- Cash advance fee: N/A
- Cash advance APR: N/A
- Late payment fee: Up to $39.00
- Returned payment fee: Up to $39.00
- Over The Credit Limit: None
Remember that if you pay off the complete balance of your card regularly, Comenity Bank may close your account. That could hurt your credit score.
Hot Topic Guest List Card Benefits
The Hot Topic Guest List Card offers the exact same benefits that are also available to you if you just sign up to be a Hot Topic Guest List member without the credit card.
These rewards include:
- 1 point for every $1 spent, automatically earn $5 reward (expires in 45 days) for every 100 points earned
- Exclusive offers
- Special birthday month deals and guest list anniversary
What Is The Starting Comenity Hot Topic Credit Limit
Your initial credit limit will be determined by a number of factors including your credit history and income.
There is no way of predicting the credit limit you will be given.
Hot Topic Credit Limit Increase
Your account will periodically be reviewed for eligible credit limit increases.
You can also request a credit limit increase on your customer dashboard or by calling Comenity Bank directly.
This is true for most credit cards and is not a reason to choose a high-interest, low-reward card.
Pros & Cons
- Reports to major credit bureaus
- Rewards program
- $0 Annual fee
- 26.49% Variable APR
- Limited use
- Bad customer service
- Low rewards value
Hot Topic Credit Card Reviews
Read some of the recent reviews submitted below about Comenity Bank, the issuer of the Hot Topic Comenity Credit Card.
How to Use Your Card
The real work starts once you have been approved for your Hot Topic Comenity Credit Card.
One of the most overlooked areas of building credit is monitoring your credit. This is truly your first line of defense when trying to build or rebuild your credit. You should try to find a service that allows you to monitor all 3 of your reports.
Learning how to use credit cards wisely is a key part of learning to manage your finances.
Helpful Tip: If your application goes to “Pending” status it doesn’t mean Declined. Usually, more information may be needed.
Make On Time Payments
Making on-time payments sounds like a super simple thing to do; however, we all live in the real world where things rarely go as planned.
Be sure, no matter what, to make your payments on time. This is one of the largest factors in your credit score. No matter what, avoid late payments.
Keep Credit Utilization Low
Another factor to consider is credit utilization. You really want to use less than 10% of your total credit limit, but try to never get it over 30%.
For example, imagine that your Guest List card has a $300 limit and you spend $100.
Spending $100 on a $300 card limit means you are using around 33% of your credit on that card. That’s above the recommended credit utilization percentage. Be mindful of how much you spend.
How Do I Cancel My Hot Topic Comenity Bank Credit Card?
You can cancel your account at any time by contacting their Customer Service Department. The phone number is listed on your billing statement or on the back of your credit card.
Is There A Fee For Closing My Account?
Outside of the fees associated with your remaining balance, there is no fee for closing your account.
I would recommend keeping the card active as long as you can. There really isn’t a reason to cancel the card any time soon. Keeping the card open will extend your credit history.
We hope this review convinced you that you should think twice before applying for this card.
Today is a great day to apply for a new credit card that you can use anywhere and be charged a fair interest rate, but the Hot Topic Card is not that card.
Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements, or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved, or otherwise endorsed by any of these entities prior to publication.