Bread Financial

Overview / Commentary
12921 S Vista Station Blvd
Draper, UT 84020

Bread Financial is the 155th largest bank in the nation. It was established in 2003 and as of March of 2022, it had grown to 111 employees. Bread Financial's savings rates are 4X the national average, and it has an A health rating.

Related Posts

Bread Financial CDs Have Large Rate Increases Yet Again - 8/9/2022

Bread Financial (former internet bank Comenity Direct) has substantially increased its CD rates again. $1.5k minimum deposit, with $1 million cap for all accounts.

Bread Has Risen (2.15% APY) - 8/2/2022

Bread Savings is now up to 2.15% APY from 1.65% APY)

Bread Financial Substantially Raises All CD and Savings Account Rates - 6/25/2022

Bread Financial (former internet bank Comenity Direct) has again substantially raised the rates on all its CDs ($1.5k minimum) and on the High-Yield Savings Account.

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Good Experience With Bread Financial

Posted by: |

I opened two 5 YR CDs in the past week. I can always reach a rep via phone calls within 30 minutes. Almost all the reps are knowledgeable. If I got a rep who might be new and inexperienced, I just call the main number again. The portal has a secure messages feature that I can ask questions, make requests, upload and download documents securely. The mobile app is pretty easy to use.
My recent experience has been good.

All Good With Me!

Posted by: |

it is a good bank if you just want to park extra money you have for a great interest rate. if you are going to make frequent transactions for large sums then you should look elsewhere. I have nothing but good experiences with this bank and have broken cds to take advantage of better interest rates and it always worked out well for me. i usually withdraw amounts less than $1000 dollars and never had problems with cancelled transactions like some other banks. Overall they have been reliable for my needs and i had nothing but a positive experience with this bank.

Best Rates, Poor Customer Service

Posted by: |

Once you learn how to navigate their website, it's a piece of cake. The learning process is not easy, however with several hurdles, Wait times to contact customer service are horrendous as it is outsourced to India with language issues. I had to escalate my issue with customer service to get back to the US. However, in the end, you have highest bank rate offered on a 2-yr CD in the country at 3.5%; higher than brokered cd's or treasuries at this time.

Beware! CD Application Process Poorly Designed. Processing Delays May Affect Rate!

Posted by: |

I was very disappointed in:
1) the Bread CD application process, and
2) Bread's lack of commitment to lock in CD the rate during the application process.

When you apply for a Bread CD, you are only told just before submitting your application that:

"Any delays in processing may affect the rate applied to your account upon approval"

So if their approval process causes any delays and the rate goes down, you are stuck with the new lower rate. Bread will not hold the rate while the ACH occurs or while Bread is doing the approval process.

Also, before you submit your application, you do not get shown the complete application for review! You only get shown the service agreement, even though the webpage says:

"Scroll to review your information and agreements".

But actually you are not shown "your information" nor what CD you are agreeing to! The fact that you are applying for a CD of a certain term and rate are not mentioned at all on the review page. Nor is any other information you entered!

Also a vertical scroll bar is not provided if you use Chrome or Edge browsers. You have to figure out that you must use the "Page Down Button". Firefox browser does show a scroll bar. So it seems that the webpages are not set up properly for Chrome or Edge.

Also you have to use the "Browser Back Button" to go back to previous data entry forms. But if your application is not completed and you resume it at a later time, then you are unable to use the "Browser Back Button" to review or change your information!

There is no "Cancel Application" button either.

So overall, the Bread CD application online process is very poorly designed and puts the applicant at risk by not providing information visibility.

I am surprised this is even legal.
How can a bank be allowed to ask someone to submit a CD application that they are not shown before they submit it?



Health Grade Components

FDIC Certificate #57570
Year Established2003
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.74%
Return on Equity - YTD31.48%
Annual Interest Income$509.1MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$10.32B$8.30B
LoansQ1 2022vs Q1 2021$8.10B$6.54B
DepositsQ1 2022vs Q1 2021$7.23B$6.56B
Equity CapitalQ1 2022vs Q1 2021$1.63B$1.09B
Loan Loss AllowanceQ1 2022vs Q1 2021$1.00B$868.3MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$233.6MM$168.1MM
Real Estate OwnedQ1 2022vs Q1 2021$0$0
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Bread Financial Savings Account Rates

2.15%$100-Bread Savings High-Yield Savings Account

Bread Financial CD Rates

3.65%$1.5k-5 Year Bread Savings CD
3.60%$1.5k-4 Year Bread Savings CD
3.55%$1.5k-3 Year Bread Savings CD
3.50%$1.5k-2 Year Bread Savings CD
3.00%$1.5k-1 Year Bread Savings CD

Bread Financial is an Internet only bank and does not have branch locations. Its headquarters is located at 12921 S Vista Station Blvd - Draper, UT 84020

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.