Comenity Bank
Comenity Bank, a Bread Financial subsidiary, is a Utah state-chartered bank that issues private-label and co-branded credit cards for major retailers (Victoria's Secret, Ford, Academy, Ross, HP, PlayStation, Kay Jewelers) and offers consumer savings and loan products through its sister bank Comenity Capital Bank.
- Company typePrivate
- Founded1989
- HeadquartersColumbus, United States
- Headcount—
- GTM typeB2C
- OfferingServices
What Comenity Bank does
Comenity Bank is a Utah state-chartered bank operating as a wholly-owned subsidiary of Bread Financial, headquartered in Columbus, Ohio. The bank issues private-label and co-branded credit cards on behalf of major retail brands including Victoria's Secret, Academy Sports + Outdoors, Ross Dress for Less, HP, PlayStation (Sony Interactive Entertainment), and Ford Motor Company, and also operates the Kay Jewelers credit card program. Beyond card-issuing, Comenity Bank delivers the credit underwriting, servicing, and technology infrastructure that powers these retail card programs, while its sister entity Comenity Capital Bank (also a Bread Financial subsidiary) takes FDIC-insured retail deposits under the Bread Savings brand.
The bank's core technology stack comprises a digital banking and credit-card processing platform that integrates with retail partner checkout flows (e.g., HP.com, victoriassecret.com), a mobile application for account management, and payment-scheduling infrastructure supporting revolving credit, promotional financing (6/12/18-month deferred interest plans), and Bread Pay installment loans. Card products are issued under Visa, Mastercard, and American Express network licenses. Distribution is dual-channel: (1) channel-partner-led, where applications are originated through partner retail websites and in-store locations, and (2) direct-to-consumer via breadfinancial.com, where the bank sells the Bread Cashback American Express card (2% unlimited cash back), Bread Rewards card, personal loans, high-yield savings (3.95% APY), 9-month CDs (4.15% APY), and IRAs.
Comenity Bank monetizes primarily through credit-card interest income (Purchase APRs of 35.99% on products like the Victoria's Secret card), transaction and financing fees (including a 2% fee on Kay Jewelers financing plans, $2.99 monthly paper-statement fees, $3 minimum interest charges), and net interest margin on its deposit-gathering franchise. Card-issuing volume is anchored by enterprise B2B relationships with national retailers, while deposit and direct-card revenue comes from individual consumers. The bank carries no public ticker and operates as a regulated banking subsidiary within the Bread Financial holding company structure.
Comenity Bank firmographics
Firmographics- Name
- Comenity Bank
- Legal name
- Comenity Bank
- Website
- https://about.comenity.net
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Short description
- Comenity Bank, a Bread Financial subsidiary, is a Utah state-chartered bank that issues private-label and co-branded credit cards for major retailers (Victoria's Secret, Ford, Academy, Ross, HP, PlayStation, Kay Jewelers) and offers consumer savings and loan products through its sister bank Comenity Capital Bank.
- Ownership category
- akta.pro rank
Comenity Bank industry classification
Industry- Product category
- Consumer Credit Card Banking
- NAICS
- Credit Card Issuing (52221), Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- Personal Credit Institutions (6141), Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Credit Cards & Revolving Credit (FSABAAAC)
- akta.pro secondary industry
- Private-Label & Store Card Schemes (FSAMAAAE)
Keywords
Where Comenity Bank is headquartered
LocationHeadquarters
- HQ city
- Columbus
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Comenity Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Credit Card Interest Income: Interest charges on revolving credit card balances. As of March 2026, Victoria's Secret Credit Card has a Purchase APR of 35.99% with deferred interest promotional plans of 6, 12, or 18 months. This represents the primary revenue stream from co-branded credit card operations.
- Transaction Fees: Fees associated with credit card transactions, including the 2% fee on financing plans mentioned for Kay Jewelers card. Additional fees include $2.99 per month for paper billing statements and minimum interest charges of $3.
- Savings and CD Deposits: Deposit-taking through high-yield savings accounts, certificates of deposit, and IRAs. FDIC-insured deposits managed by Comenity Capital Bank, with competitive APY rates (3.95% for savings, 4.15% for CDs and IRAs) as of the publication date.
- Pay Over Time / BNPL: Bread Pay financing solution providing installment payment options for purchases, generating revenue through merchant relationships and consumer financing fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | High-Yield Savings Account: 3.95% APY, FDIC insured, no monthly fees |
| Subscription | Multi-year contract | Certificates of Deposit: 4.15% APY, $1,500 minimum opening deposit |
| Subscription | Multi-year contract | IRA High-Yield Savings and CD: Up to 4.15% APY |
| Transaction based/ take rate | Monthly | Kay Jewelers Credit Card: Deferred interest financing, 35.99% ongoing APR |
| Transaction based/ take rate | Monthly | Victoria's Secret Credit Card: 35.99% Purchase APR |
| Transaction based/ take rate | Monthly | Bread Cashback Card: 2% unlimited cash back, no annual fee |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Comenity Bank product offering
Product offeringCore offering
Comenity Bank issues credit cards and offers underwriting and other credit card services to retail establishments, including co-branded cards for major retail partners such as Victoria's Secret, Ford, Academy Sports + Outdoors, Ross Dress for Less, HP, PlayStation, and Kay Jewelers. Through its affiliate Comenity Capital Bank, the franchise also offers FDIC-insured deposit products (high-yield savings accounts, certificates of deposit, and IRAs) under the Bread Savings brand, personal loans under Bread Loans, and pay-over-time financing through Bread Pay.
Product overview
Comenity Bank operates as part of Bread Financial Companies, offering a comprehensive suite of financial products through both direct-to-consumer channels and co-branded retail partnerships. The product portfolio includes direct credit cards (Bread Cashback Card, Bread Rewards Card), personal loans, and savings products (high-yield savings accounts, certificates of deposit, and IRAs) offered through Comenity Capital Bank. Additionally, Comenity Bank issues numerous co-branded retail credit cards for major merchants including Victoria's Secret, PlayStation, Academy Sports + Outdoors, Ross Dress for Less, HP, and Kay Jewelers. The company also provides pay-over-time financing solutions (Bread Pay) and installment loan programs. All deposit products are FDIC-insured up to $250,000 through Comenity Capital Bank, a Utah state-chartered bank.
Differentiator
Problem solved
Functional benefit
Brands
- Bread Savings: FDIC-insured savings products including high-yield savings accounts, certificates of deposit, and IRAs offered through Comenity Capital Bank.
- Bread Pay
- Bread Loans
Products and services
- Bread Cashback Card American Express credit card offering 2% unlimited cash back on purchases with no annual fee and no foreign transaction fees, including American Express purchase protection and ID theft insurance.
- Bread Rewards Card Rewards credit card offering exclusive rewards and financing options for cardmembers.
- High-Yield Savings Account FDIC-insured savings account offering competitive APY with no monthly or hidden fees, requiring a $100 minimum opening deposit.
- Certificates of Deposit (CDs) FDIC-insured time deposit savings products with competitive rates, requiring a $1,500 minimum opening deposit. Currently offering 4.15% APY on 9-month CDs.
- Individual Retirement Accounts (IRAs) Retirement savings accounts available as high-yield savings or CDs, FDIC-insured with no hidden fees, offering up to 4.15% APY.
- Personal Loan Installment loan product offered through Bread Loans for personal financing needs.
- Pay Over Time (Bread Pay) Bread Pay financing solution enabling pay-over-time payments for online and in-store purchases, part of a suite of loan products made by Comenity Capital Bank.
- Victoria's Secret Credit Card / Victoria's Secret Mastercard Co-branded credit card issued by Comenity Bank offering promotional financing plans, cardmember-only perks, and rewards on Victoria's Secret purchases.
- myAcademy Rewards Credit Card Co-branded credit card for Academy Sports + Outdoors offering rewards and $30 off first purchase over $30.
- Ross Credit Card / Ross Mastercard Co-branded credit card for Ross Dress for Less offering 10% off first purchase as new cardholder.
- HP Credit Account Co-branded credit account for HP offering special financing options on HP purchases, issued by Comenity Capital Bank.
- Ford Co-Branded Credit Card and Installment Loan Program Co-branded credit card and installment loan program launched with Ford Motor Company offering rewards, bonus points, and flexible payment options integrated into Ford's platforms nationwide.
- PlayStation Visa Credit Card Co-branded Visa credit card for PlayStation offering rewards on purchases, issued by Comenity Bank pursuant to Visa license.
- Crypto Visa Signature Credit Card Crypto rewards credit card allowing cardholders to earn up to 6% back in cryptocurrency on everyday purchases, with tiered earning (1.5% with Midnight, 6% with Obsidian). No annual fees.
- Kay Jewelers Credit Card Co-branded credit card issued by Comenity Bank for Kay Jewelers offering promotional financing plans of 6, 12, or 18 months for qualifying purchases. Uses deferred interest rather than true 0% introductory APR.
Quantifiable outcome
- 3.95% APY on high-yield savings accounts
- +3 more outcomes
Companies that use Comenity Bank
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Comenity Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Comenity Bank partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and strategic.
- Ford Motor CompanycoreLong-term strategic partnership to launch co-branded credit card and installment loan program designed to enhance customer ownership experience and accessibility to Ford products and services. The financing program offers rewards including 15,000 bonus points, $100 statement credit after spending $1,500 within 90 days, and accelerated point earning on Ford-related purchases. The agreement aims to strengthen customer loyalty and provide flexible payment options integrated into Ford's platforms nationwide.
- Victoria's SecretcoreCo-branded credit card program including Victoria's Secret Credit Card and Victoria's Secret Mastercard. Offers include $25 off first purchase, promotional financing, and cardmember-only perks. Cards issued by Comenity Bank.
- Academy Sports + OutdoorscoremyAcademy Rewards credit card program offering $30 off first purchase over $30, plus 5% cardmember discount on subsequent purchases. Includes both standard and Mastercard versions issued by Comenity Capital Bank.
- Ross Dress for LesscoreRoss Credit Card Program offering 10% off first purchase when opening and using the Ross Credit Card. Includes both standard and Mastercard versions issued by Comenity Capital Bank.
- HP Inc.coreHP Credit Account providing special financing options for HP product purchases. Cards issued by Comenity Capital Bank and integrated into HP.com checkout.
- Sony Interactive EntertainmentcorePlayStation Visa Credit Card with rewards program for PlayStation purchases. Offers up to $100 statement credit for new cardholders. Cards issued by Comenity Bank pursuant to Visa license.
- American ExpressstrategicLicensing partnership for issuing Bread Cashback American Express Credit Card. American Express provides network services including purchase protection and ID theft insurance. Card issued by Comenity Capital Bank.
- Mastercard InternationalstrategicLicensing partnership for issuing co-branded Mastercard credit cards including myAcademy Rewards Mastercard, Ross Mastercard, and Victoria's Secret Mastercard. Cards issued by Comenity Capital Bank or Comenity Bank pursuant to Mastercard license.
- Visa U.S.A. Inc.strategicLicensing partnership for issuing PlayStation Visa Credit Card. Cards issued by Comenity Bank pursuant to license from Visa U.S.A. Inc.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Comenity Bank competitors and assessment
Company assessmentDirect peers
- Capital One: Major co-branded card issuer (Costco, Walmart, Target) and large consumer credit card franchise. Directly competes for retail partnership mandates and credit cardholders in overlapping segments.
- Citi Retail Services: Citi's private-label and co-branded card division (Macy's, Best Buy, Home Depot, Sears historically). Closely comparable business model focused on issuing retail-branded credit with similar partner economics.
- Discover Financial Services: Issuer of private-label and co-branded credit cards plus the Discover network. Overlaps with Comenity in retail-card issuing and competes for the same merchant partnership pipeline.
- Barclays US Consumer Bank: Major co-branded credit card issuer in the U.S. (Frontier, JetBlue, Uber, Hawaiian Airlines, MLB). Directly comparable partnership-driven card-issuing model with similar co-brand economics.
- Synchrony Financial: The largest U.S. pure-play private-label and co-branded credit card issuer (Gap, Lowe's, Amazon, Sam's Club, Verizon). Direct competitor to Comenity across the same retail partnership model and underwriting approach.
Emerging players
- Klarna: Global BNPL competitor pushing deeper into U.S. merchant integrations with pay-over-time options. Competes with Bread Pay for the same merchant checkout financing wallet.
- Affirm: Leading U.S. BNPL provider competing directly with Bread Pay for embedded pay-over-time integrations at merchants. Comparable pay-over-time value proposition though Affirm focuses on installment lending rather than revolving credit.
Broad incumbents
- Ally Financial: Direct-to-consumer digital bank with credit cards, deposits, and auto lending. Comparable deposit funding and consumer credit product set, though not focused on co-branded retail cards.
- Wells Fargo Retail Services: Wells Fargo's retail card division manages co-branded programs (Boscov's, etc.) alongside a much broader consumer banking franchise. Overlapping capability but within a much larger diversified bank.
Others
- Bread Financial Holdings: Direct parent company of Comenity Bank and Comenity Capital Bank. Operates the shared Bread Financial brand across cards, savings, and loans — relevant as the consolidating entity that owns and capitalizes Comenity's operations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Comenity Bank social profiles
Digital presenceComenity Bank compliance and trust
Trust signalCompliance1 record
Comenity Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Comenity Bank leadership team
Management profileNumber of profiles
Comenity Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Comenity Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Comenity Bank
What does Comenity Bank do?
Comenity Bank issues credit cards and offers underwriting and other credit card services to retail establishments, including co-branded cards for major retail partners such as Victoria's Secret, Ford, Academy Sports + Outdoors, Ross Dress for Less, HP, PlayStation, and Kay Jewelers. Through its affiliate Comenity Capital Bank, the franchise also offers FDIC-insured deposit products (high-yield savings accounts, certificates of deposit, and IRAs) under the Bread Savings brand, personal loans under Bread Loans, and pay-over-time financing through Bread Pay.
Is Comenity Bank a public or private company?
Comenity Bank is a private company. It is classified as corporate owned and is currently operating.
When was Comenity Bank founded?
Comenity Bank was founded in 1989.
Where is Comenity Bank based?
Comenity Bank is headquartered in Columbus, United States, in the North America region.
How does Comenity Bank make money?
Four revenue lines are on record. Credit Card Interest Income is the primary driver. The others are transaction Fees, savings and CD Deposits and pay Over Time / BNPL.
Who are Comenity Bank's main competitors?
Direct peers on record are Capital One, Citi Retail Services, Discover Financial Services, Barclays US Consumer Bank and Synchrony Financial. Emerging players are Klarna and Affirm. Broad incumbents are Ally Financial and Wells Fargo Retail Services. Bread Financial Holdings is listed as an others.
Does Comenity Bank have an API?
No public API is recorded for Comenity Bank.
What industry is Comenity Bank in?
Comenity Bank's product category is Consumer Credit Card Banking. Its primary akta.pro industry code is FSABAAAC, Credit Cards & Revolving Credit, with a secondary code of FSAMAAAE, Private-Label & Store Card Schemes. Its NAICS code is 52221 and its SIC code is 6141.