In credit card news:
Ulta Beauty and Alliance Data [i.e. Comenity] have partnered to develop and manage the Ultamate Rewards Credit Card program which is designed to enhance the benefits of the popular Ultamate Rewards loyalty program and increase engagement with the Ulta Beauty brand.
I, for one, think it’s hilarious that there is now an ‘Ultamate Rewards’ credit card. I’m surprised that they’re actually doing this–I would have thought that Chase’s trademark lawyers would scare off anybody who wanted to have a name that’s almost exactly like Ultimate Rewards, but then maybe Ultamate Rewards has been around longer. I wish Ulta and Comenity would take it a step further and launch a new card called Smapphire Preferred or the Freedom Ultalimited or something like that.
In any case, for any Ulta loyalists who happen to be reading this Doctor of Credit has run the numbers and found that this card can actually get you a little over 6% back on your Ulta purchases, but only about 2% everywhere else, and that’s the best-case redempion scenario. As is usually the case with store loyalty cards, you’re better off with a simple 2% cash back card.