Comenity Bank Review

You might know Comenity as the bank that issued your credit card. Comenity is more than just an issuer of credit cards and offers customers other banking services.

Comenity Direct was founded in 2018 as an alternative for people who prefer the convenience of online banking. Comenity also offers good returns on its products and services such as CDs and savings account deposits. The yield you get from these services is competitive with other banks in the industry.

Who is Comenity Direct for?

If you’re the type of person who doesn’t withdraw funds frequently and is more concerned about parking his money in placements that generate appreciable returns without worrying about security issues – Comenity Direct might be the service you’re looking for.

Keep in mind that as a customer of Comenity Direct, you can’t go to a physical location. However, if you have questions or concerns about the service or a particular transaction, you can get in touch with their customer service representatives.The operating hours for customer support are 7am to 11pm on weekdays and 9am to 5pm on weekends. All time is based on Central.

Likewise, if you prefer to do some legwork and visit the physical location of your branch because you don’t trust online banking, you can look past Comenity Direct. It’s worth noting that the Comenity Direct app was not favorably received at both iOS and Android forums. Generally, the reviews were not good.

credit cards on wooden table

Savings Account

Opening a Savings Account with Comenity Direct might be an option you can consider because it gives a very competitive Annual Percentage Yield (APY) and offers a good interest rate on your deposit. The minimum deposit needed to open an account is only US$100 and unlike other banks, you won’t be charged monthly fees on maintenance.

You can only transact online with Comenity Direct because it does not have a network of ATMs and physical locations aren’t available. If you have check deposits to make, you can do this with the mobile app of Comenity Direct.


  • Good return on your deposit
  • Low starting deposit of only US$100
  • No monthly maintenance fees
coin savings in glass


None Overall Score: 5 out of 5 stars

Comenity Bank CD Rates

Comenity Direct’s CD rates have maturities from 1 year, 2 years, 3 years, and 5-years. The return you get from placing your money in Comenity Direct’s CDs are better compared to those offered by banks with physical locations.

The minimum deposit is not hard to comply with at US$1,500. However, there are limitations to the type of CDs that Comenity Direct can offer. You won’t find bump-up and no-penalty CDs at Comenity Direct.


  • CD rates have high yield
  • You can choose from a range of CD terms
  • The amount of initial deposit is reasonable at US$1,500


  • You won’t find specialty CDs

Overall Score: 4.5 out of 5 stars


court hammer

What is our overall score for Comenity Direct? First of all, with Comenity Direct your deposits earn a better yield compared to other banks that have branches nationwide. It won’t be hard to open an account as the initial deposit for a savings account or for CDs are quite low.

Comenity Direct is also covered by the FDIC. However, you can’t write checks or deposit cash with Comenity Direct. There aren’t many options available for depositors and there are no physical locations to go to. Overall, we gave Comenity Direct a score of 4.1 out of 5 stars.