Bread Financial is the 147th largest bank in the nation. It was established in 2003 and as of June of 2022, it had grown to 109 employees. Bread Financial's savings rates are 9X the national average, and it has an A health rating.
Related Posts
3/22 - Bread Has Risen To 4.50% APY
3/7 - Bread Financial 1-Year CD Crosses Into Rate-Leading APY Territory
2/17 - Savings Raised To 4.25%; 1 YR CD Raised To 4.75%
2/3 - 5 Year Dropped To 4.25%
1/6 - Bread HYSA Rate Increased To 4.00% APY
11/22 - Bread Financial Has Across-The-Board CD And Savings Rate Increases
11/11 - On Their Web Site, High-Yield Savings 3.50%, CD Rates Up Too
10/28 - Bread High Yield Savings Increased To 3.00% APY
9/30 - Bread Financial Long-Term CDs Become Rate Leaders
9/30 - Bread Savings Increased To 2.90% APY
8/9 - Bread Financial CDs Have Large Rate Increases Yet Again
8/2 - Bread Has Risen (2.15% APY)
6/25 - Bread Financial Substantially Raises All CD and Savings Account Rates
6/25 - Bread Financial Takes National Lead In Multiple CD Durations - 4YR (3.30%), 3 YR (3.25%), 2 YR (3.00%), 1 YR (2.50%)
6/24 - Bread Financial Rate Increased To 1.65%
5/28 - Bread Financial Has Across-the-Board Rate Increases
5/27 - Bread Financial HYSA Up To 1.15% APY
4/22 - Bread Financial (Formerly Comenity Direct) Savings Rate Now 1.00% APY
Never Had ANY Problems
Have 2 accounts going on 3 with these guys. Excellent rates and great service, have never had one problem.
Now people with credit card issues need to learn how to live within their means, instead of month to month on credit.
Most people are here for the excellent interest rates being given on certificates of deposit and their high yield savings account. Who cares about credit cards, get that from any bank.
Excellent Customer Service By Phone
I have been a long-time customer of Bread Financial (formerly known as Comenity Capital Bank). I called seeking guidance in two matters:
1. How to open a CD using some of the money in my high-yield savings account. The customer service representative directed me to the link on my account page to follow to open another account (that is, the CD).
2. I requested an increase to my ACH transfer (outgoing) limit. I was capped at $5,000 per day with no 6 transfers limit per month and no fees after the 6th transfer. I was cheerfully offered a daily limit of $100,000 (I selected a $50,000 daily limit) with no limit to the number of transfers per month and no fees. I was informed the change will take effect in 3 to 5 business days.
I had less than a one-minute hold time (I called late afternoon) to speak to a live representative. She was friendly, courteous, knowledgeable and spoke clearly.
I have never had any issues with Bread Financial or Comenity phone representatives.
Easy Application, Good Rates
Unlike some others on here, I had no problem whatsoever setting up my account. Their rates seemed pretty good, although I discovered another bank that same day that had better rates.
Terrible Bank , Incompetent Management And Customer Service.
I have never seen a bank that denies your application form and the Mangement and customer service doesn't know why your application form was denied and they tell you to keep trying with a different email address so that you may get approved. I tried this several times getting the same result. It's like playing the slots machine! I had a horrible experience after making several phone calls and filling up several application forms that they told me they couldn't delete! I should have listened to all the negative and one-star comments here. They are all true, so don't waste your time like I did.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57570 |
| Year Established | 2003 |
| Employees | 109 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.68% |
| Return on Equity - YTD | 17.98% |
| Annual Interest Income | $1.05B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $11.27B$8.92B |
| Loans | Q2 2022vs Q2 2021 | $8.83B$6.99B |
| Deposits | Q2 2022vs Q2 2021 | $7.52B$6.42B |
| Equity Capital | Q2 2022vs Q2 2021 | $1.65B$1.21B |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $1.13B$804.6MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $239.1MM$136.7MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |