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Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Bread Financial

Finanso.Multilogin™

About lender

Bread Financial, previously known as Comenity Capital Bank, is an innovative financial services business that helps its clients purchase products online on their own terms. People using Bread Financial don't have to pay the full amount of provided resources at once, they can cover the cost over time. The premise is that these deals are risk-free and offer you a higher degree of financial flexibility. It must be noted that this company is not a direct lender: every time your purchase is funded through Bread, you're actually taking a short-term loan from a noted American financial services organization named "Cross River Bank."

On the official website, Bread Financial highlights an excellent array of products and services it offers. It also explains that there is a plethora of benefits that other services don't offer. The line-up of services includes saving solutions, personalized payment options, and other. The company can offer credit cards, including their very own Bread Cashback Card. For businesses that want to become partners, Bread Financial can provide a lot of resources aimed at making their online sales a success. In fact, it can even help them with several aspects of their presentation and boost conversion rates.

Bread Financial made a rebranding and changed its name from the Comenity Capital Bank. Comenity Capital Bank issued credit cards and saving products. Bread Financial now states that the customers of Comenity Capital Bank don't need to worry, as rebranding doesn't cancel any existing accounts. Bread Financial was also known as Alliance Data brand.

Pros and Cons of Bread Financial

Pros

  • There's no prepayment penalty. Even if you choose to pay the entire sum on the spot, Bread Financial will not charge you with a prepayment penalty. Many lending companies are not exactly open about their pre-payment policy, but Bread is proud to note that it offers no fees.

  • Easy to use. Though Bread hasn't really made a big noise in the online lending market, it's still here and operating at a good pace. The reason behind this is simple: Bread Financial offers services and products that are very easy to use.

  • Fixed monthly payments. This makes it very easy to plan your finances and budget. The loan is paid in installments and you don't need to worry about not being able to afford them.

  • It's possible to see if you pre-qualify. The former Alliance Data gives future clients the opportunity to check and see if they're able to pre-qualify.

  • High annual percentage yield. This only applies to Bread Savings and not their lending service, but it still puts Bread Financial as one of the best companies in this area.

Cons

  • Hard to find data regarding the affiliated retailers. Even though Bread provides clear information regarding all the participating retailers and partners, it's still hard to find the full list.

  • There's no app. There is an app for their saving solutions, but there isn't one for personalized payment methods and loans.

The conclusion is that for loans, consumers usually look for reviews that highlight benefits and disadvantages so that they can make a smart decision. This lending option is suited for people that want to make a purchase while still maintaining the same budget as usual. It is a sensible decision, as there are no prepayment penalties and you don't have to worry about not being able to afford the monthly installments (they are fixed). However, there are minor cons that might prevent people from choosing Bread as their lending solution.

Terms and Conditions

Bread Financial does not provide enough details regarding its terms and conditions, but there's enough data to form an educated guess. The APRs range from 5.99% to 19.99%. The loans are offered only for the following durations: 2, 3, 4, 5, and 6 years. The minimal amount that you can apply for is $1,500. Your specific offer will be contingent on your current financial resources, namely your revenue, credit score, and more. Bread only allows you to have a single loan; however, this doesn't mean that you can't apply for other ones from different lending companies.

Funding a Loan

Bread offers people a personalized payment solution that can help them better plan and save for their expenses. Using this lending solution doesn't require much. In case this option is available at the retailer you're planning to purchase from, you'll only need to choose the Bread payment option during checkout and that's it. The application process does not take very long and most applications are accepted in a matter of minutes.

FAQ

What is Bread Financial?

Bread Financial (formerly known as Alliance Data) is a business that enables its clients to have more control over their finances. It's a buy-now-pay-later system that helps people to get what they want by paying for it.

What is Bread BNPL?

Bread refers to Bread Financial, a financing company (formerly known as Alliance Data) and BNPL stands for "Buy Now, Pay Later". Colloquially, people use the term to refer to the company, not the system.

Company documents

Privacy Policy
Terms

We’re a tech-forward financial services company. We provide simple, personalized payment, lending and saving solutions.

© Bread Financial

Financial products

Bread Financial
Credit card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,500-$35,000
Rate
i

Effective interest rate on the product

up to 19.99%
Term
i

Loan term for the financial product

2-6 years
Bread Financial
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,500-$35,000
Rate
i

Effective interest rate on the product

from 5.99% to 19.99% APR
Term
i

Loan term for the financial product

2-6 years

Similars products

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Upgrade Triple Cash Rewards Visa® card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500 to $25,000**
Rate
i

Effective interest rate on the product

8.99%-29.99%
Upgrade
Upgrade Cash Rewards Visa®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

$0.00
Oportun
Credit card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
lines up to $1,000
Rate
i

Effective interest rate on the product

24.9%-29.9%
Term
i

Loan term for the financial product

up to 60 months
Sallie Mae
Sallie Mae Accelerate
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $1000
Rate
i

Effective interest rate on the product

up to 25.24%
Sallie Mae
Sallie Mae Ignite
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $250
Rate
i

Effective interest rate on the product

up to 25.24%
Happy Money
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

5
Recommended FinScore™
0
300
650
1000
$5,000 - $40,000
Rate
i

Effective interest rate on the product

up to 24.99%
Term
i

Loan term for the financial product

up to 60 months
MaxLend
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$100-$3,000
Rate
i

Effective interest rate on the product

up to 841%
Term
i

Loan term for the financial product

up to 300 days
Opploans
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$4,000
Rate
i

Effective interest rate on the product

up to 160%
Term
i

Loan term for the financial product

9-18 months
Avant
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$2,000-$35,000
Rate
i

Effective interest rate on the product

up to 35.99%
Term
i

Loan term for the financial product

24-60 months
Mariner Finance
Unexpected Expenses
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000 - $25,000
Rate
i

Effective interest rate on the product

18.99% - 35.99% APR
Term
i

Loan term for the financial product

12 - 60 months

Calculate loan payments in Bread Financial

Bread Financial calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
i

Enter the desired loan amount

USD
USD
1500 $
35000 $
Loan term
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Specify the loan term for the calculation

years
months
2
6

What to focus on before applying for a loan with Bread Financial

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Bread Financial and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Bread Financial’s reviews by October 2022
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