Comenity Direct Review: Savings and CDs

Chanelle BessetteDecember 17, 2020
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Overall bank rating

Comenity Direct


    NerdWallet rating 

    The bottom line:

    Comenity offers a high-yield savings account and certificates of deposit but no checking accounts. The high-yield savings account offers a solid 0.55% APY and no monthly fees, although the account requires a $100 minimum deposit to open. Comenity’s CDs also offer solid APYs with a minimum opening balance of $1,500. There are no monthly fees for CDs but an early withdrawal penalty will apply if a customer withdraws funds before the term length of the CD is up.


    Comenity is an online-only bank, so it doesn’t have any branches, but its customer service phone line is available seven days a week. Since Comenity’s high-yield savings account isn’t designed with frequent withdrawals in mind, the only way customers can withdraw cash is by transferring to a linked account.


    Best if: You want an online-only account with a solid APY.


    » Want to see other high-yield accounts? Check out NerdWallet's favorite high-yield online savings accounts.


    • Solid 0.55% APY on high-yield savings account.

    • No monthly fees on savings or CDs.

    • Online-friendly services.


    • No checking accounts available.

    • Relatively high minimum opening balance for CDs.

    • No ATMs or branches.


    NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.