L.L.Bean and Citi Launch New Co-Branded Rewards Card
Today, L.L.Bean and Citi launched a new co-branded credit card with built-in rewards. The L.L.Bean Mastercard offers 4% rewards on L.L.Bean purchases, as well as 2% rewards at gas stations and restaurants. All other purchases earn 1% rewards.
The rewards are turned into “Bean Bucks,” which can be used to save money on L.L.Bean purchases. If a cardholder spends $100 on the card at L.L.Bean, he would earn $4 in store credit for a future transaction. Bean Bucks never expire, and there is no limit for the rewards.
Cardholders also qualify for special perks, such as free shipping and free return shipping. L.L.Bean offers monogramming on many of their products (tote bags, sleeping bags, clothing, etc.), and cardholders can receive this service at no extra cost. Monogramming typically costs $8 per item.
Citi recently acquired L.L.Bean’s $1.5 billion credit card portfolio. Existing cardholders will be upgraded to the new rewards card, and will be issued a new card in the new future. There is no annual fee with the card, and the APR is between 15.74% and 21.74% depending on your credit worthiness.
New applicants may qualify for 15% off their first purchase after being approved for an L.L.Bean Mastercard.