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L.L.Bean Mastercard Credit Card

L.L.Bean Mastercard Credit Card is a store reward credit card issued by Citibank. This card is designed for people with good credit. The minimum credit score to apply is 700. If you’re wondering whether L.L.Bean Mastercard Credit Card is the right card for you, read on. This is everything you need to know to make a good choice.

The L.L.Bean Mastercard is a credit card that’s designed with frequent shoppers of L.L.Bean in mind.

You’ll earn 4% cashback for eligible purchases made at L.L.Bean, and 2% back at gas stations and restaurants. So you’ll want to use this card mainly for L.L.Bean shopping, and perhaps for those other categories unless you could get a better deal with a regular reward credit card.

The L.L.Bean Mastercard is a store credit card offering rewards on nearly every purchase you make, including 4% rewards on purchases you make at any L.L.Bean store or through their website.

Along with some Mastercard benefits, you’ll also get additional perks such as free monogramming, free shipping and returns, and exclusive sales and offers at L.L.Bean.

The L.L.Bean credit card is currently issued by Citi as a Mastercard. It was previously issued by Barclays, as the L.L.Bean Visa Card.

This is an “open-loop” card, which means you can use it anywhere Mastercard credit cards are accepted.

Who is The L.L.Bean Mastercard Credit Card Designed For?

The L.L.Bean Mastercard Credit Card designed for you spend a lot of money with L.L.Bean every year, then the  L.L.Bean Mastercard might be right for you. Keep reading to learn more and see what this card offers.

In addition to rewards you earn on purchases, the card has several other perks and benefits that L.L.Bean fans will love.

As you consider whether or not you want to get this credit card, it’s important to take a few minutes to consider what the card offers, how it will benefit you in the long term and how its rewards measure up against cash rewards cards that you could use instead of the L.L.Bean store card.

The L.L.Bean Mastercard’s Rates and Fees

All credit cards come with a list of rates and fees that you’ll pay in the event that you make a late payment or you carry a balance.

What surprises us about the L.L.Bean card is that the APR ranges from 15.74% to 21.74%, which, in the world of store credit cards, is very reasonable.

While that interest rate is about average for cash back rewards cards, it’s pretty competitive compared to travel rewards cards, whose best APR often eclipses 17%.

Other fees and rates on this card include a 5% cash advance fee that’s paired with a 26.99% APR, a 3% balance transfer fee and a foreign transaction fee of 3%.

The L.L.Bean Mastercard has no annual fee.

Does L.L.Bean Mastercard Credit Card have a signup bonus?

L.L.Bean Mastercard Credit Card doesn’t offer a cash signup bonus.

Does L.L.Bean Mastercard Credit Card offer an annual loyalty bonus?

L.L.Bean Mastercard Credit Card doesn’t offer a cash loyalty bonus.

What are the L.L.Bean Mastercard Credit Card benefits?

L.L.Bean Mastercard Credit Card provides the following benefits:

  • Fraud Liability
  • ID Theft Protection
  • Reports to major credit bureaus

What are the relevant APRs for L.L.Bean Mastercard Credit Card?

L.L.Bean Mastercard Credit Card has a variable purchase APR that ranges from 15.49% up to 21.49%. The card has a variable balance transfer APR that ranges from 16.24% up to 22.24%.

It also has a variable cash advance APR starting at 26.74% .

Does L.L.Bean Mastercard Credit Card have an introductory APR offer?

No, L.L.Bean Mastercard Credit Card does not come with an introductory APR offer for balance transfers. L.L.Bean Mastercard Credit Card does not offer an introductory rate on new purchases.

L.L.Bean Mastercard Credit Card Rates & Terms

  • Purchase APR     15.49% – 21.49%
  • Balance Transfer APR      16.24% – 22.24%
  • Cash Advance APR            Starting at 26.74%

What are the L.L.Bean Mastercard Credit Card fees?

The following fees apply to L.L.Bean Mastercard Credit Card:

  • There is no over limit fee
  • Annual Fee          $0
  • Foreign Transaction Fee 3%
  • Balance Transfer Fee       3%
  • Minimum Balance Transfer Fee    $5
  • Returned Payment Fee    $37
  • Late Payment Fee             $37

Please take note that these rates are variable, thus they are subject to change

Does L.L.Bean Mastercard Credit Card have a foreign transaction fee?

Yes. L.L.Bean Mastercard Credit Card charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn’t charge a foreign transaction fee.

Does L.L.Bean Mastercard Credit Card report your account activity to credit bureaus?

Yes. The L.L.Bean Mastercard Credit Card is known to reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

L.L.Bean Mastercard Credit Card Application

Visit the Citibank website.

Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.

Check the information is accurate and submit your application.

If you’re denied click here to find out why your application may have been rejected and what you can do about it.

The L.L.Bean Mastercard’s Rewards

Nearly every store credit card you look at will boast some sort of rewards structure that’s based on percentages you get every time you make a purchase. The “rewards” you get are usually points that convert into cash or cash.

The L.L.Bean card’s rewards points are called Bean Bucks and you earn them according to the following system:

4% on L.L.Bean purchases

2% on gas and restaurants

1% on everything else

4% Rewards on L.L.Bean Purchases

One Bean Buck is equal to one dollar of rewards. So, if you spend $100 at an L.L.Bean store you get the 4% rewards rate, which equals four Bean Bucks. Those Bean Bucks will show up in your L.L.Bean account and you can apply them to any future purchases you make.

Basically, the card gives you a 4% discount on nearly every L.L.Bean purchase you make. Of course, the discount isn’t taken off at the register or online but is sent to your rewards account.

2% Rewards on Gas and Restaurants

L.L.Bean Mastercard Credit Card

Whenever you use your L.L.Bean card at a gas station or restaurant, you can earn 2% in Bean Bucks.

What makes this category so interesting is that the restrictions on what counts as a “gas station” are pretty detailed. Certain gas purchases won’t count and much of it has to do with where the gas station is located. Here are the locations at which your gas purchases will earn 1%, not 2%:

Superstores

Grocery stores

Convenience stores

Warehouse clubs

L.L.Bean also has a list of exclusions for the restaurant category. Before we list them, we want to point out that “restaurant” includes sit-down places as well as fast food, so this category is a little more expansive than the gas category.

With all these things considered, we believe these two purchase categories can earn the average household about $220 per year.

When you add in the 1% bonus on the “everything else” purchases you make, we think this card can earn you $420 a year, not including your L.L.Bean purchases. But, remember, that money isn’t something you get in a check; it’s a balance you can only apply to L.L.Bean purchases.

15% Off Your Purchase the Day You’re Approved

Other big rewards you get with this card

15% discount on one purchase you make the day you’re approved for the card.

What makes this reward tricky is that there are specific guidelines for how you use it. First, you need to make the purchase after you’ve been approved. This one sounds simple, but it only applies to instant approvals.

So, let’s say you fill out the online application for the card, click “Submit” and you get a message saying you’ve been approved. Now, you have to go directly to the L.L. Bea website and make a purchase. Here’s how the card’s fine print explains it:

“If your application for the L.L.Bean Mastercard is able to be instantly approved, you will receive a one-time discount of 15% off your llbean.com purchase, valid during your current website visit to llbean.com when you pay with your new L.L.Bean Mastercard. Once this llbean.com visit has ended, this offer is no longer valid.”

Some other key things to know about this discount is that it’s merchandise-only, which means the 15% discount won’t apply to charges for shipping, taxes, engraving, monograms and several other categories.

Also, there is certain merchandise that are excluded from this discount. At the time of publishing, the fine print said that “select boats, optics, electronics; firearms; Outdoor Discovery Schools private lessons, custom adventures, adventure trips, and youth programs” are excluded, too.

The L.L.Bean Mastercard’s Long-Term Benefits Include Free Shipping and Returns

Aside from rewards, the card gives you three specific perks: free shipping, free returns and free monogramming.

The free shipping benefit only applies to standard shipping in the U.S. We did a quick check of the company’s website and found that standard shipping for a six-person tent would take seven days to arrive in Jacksonville, FL.

Their site noted that standard shipping takes anywhere from three to six days and that express shipping arrives in three days.

Returns have the same restrictions as free standard shipping. You won’t have to pay anything if you do a standard-shipping return.

Monogramming is free on items you buy from L.L.Bean that are shipped to the U.S.

All three of these perks only apply to purchases you make with your L.L.Bean card or Bean Bucks.

How the L.L.Bean Mastercard’s Rewards Compare to Cash-Back Credit Cards

Earlier we mentioned that you could earn around $420 a year with this card based on the rewards rates for gas, restaurant, and general purchases. If you add in the rewards you get from making $500 in L.L.Bean purchases each year, then your rewards total rises to $440.

All of this is based on spending $26,000 a year. With that standard in mind, here is a quick list of how much you could earn per year with the following popular cash-back rewards cards:

Citi Double Cash: $520

Chase Freedom Unlimited: $390

Alliant Cashback Visa Signature: $650

What these other cards don’t offer, however, is the free shipping, free returns and the free monogramming that the L.L.Bean card has.

If you buy from the site six times a year, then you’ll save $36 on standard shipping costs. Standard monogramming costs $8. So, if you buy three shirts a year from L.L.Bean among your six purchases, you’ll save an additional $24, putting the card’s yearly Bean Bucks total at $500.

Compared the cashback cards we listed above, that rewards total is formidable. The drawback, as with every store-branded credit card, is that you can’t use that money anywhere else but at L.L.Bean.

The Final Word: Pros and Cons of the L.L.Bean Mastercard

Based on our research of this card and other store credit cards, we believe the L.L.Bean Mastercard offers excellent rewards. So excellent, in fact, that it surpasses the cash rewards you could get with a card like the Chase Freedom Unlimited.

For someone who shops at L.L.Bean regularly, this card is a great way to earn rewards that you can put toward your L.L.Bean purchase. Considering how much you can earn each year, getting this card to amass rewards you can use to buy Christmas presents would be warranted, in our opinion.

The downside to the card is that the 15% bonus you get when you’re approved only applies to purchases made at the same time. So, you should do your research ahead of time to decide what you want.

In our opinion, this card is a great fit for someone who makes frequent purchases at L.L.Bean and will use their rewards because they already have a history of shopping here. It’s easy to get caught up in a good store credit card deal, but smart consumers will stick with cards that rewards them for the type of purchases they already make