Who Is This Credit Card Best For?
Diligently searches for the best products and delights in a good bargain See more cards
Looks for good quality at a fair price while buying for the household See more cards
Spends time making their house or condo a comfortable, safe place to call home See more cards
Frequently shops with a particular merchant and wants to be rewarded for their loyalty See more cards
Wayfair shoppers who plan to spend a lot on home furnishings and decor in the immediate future could benefit from the Wayfair Credit Card, either to earn rewards or get special financing to help spread out payments.
Typically, store cards are easier to qualify for than regular credit cards, which means this card can be a good starter card if you have a limited credit history and want to build your credit while saving a few bucks on your Wayfair purchases.
When you apply, there are two credit cards that you will be considered for: the Wayfair Credit Card and the Wayfair Mastercard. If you’re approved for both, you will be able to choose the card you want.
Decent rewards on Wayfair purchases
No physical card
Special financing offer can be risky
Poor intro offer
Rewards can only be redeemed with Wayfair sites
- Decent rewards on Wayfair site purchases: Shoppers get 5% back on all qualifying purchases at Wayfair sites. That’s a solid offer that’s in line with other store cards.
- No physical card: Wayfair Credit Card customers get a digital card, so you don’t have to worry about losing it and the subsequent time it takes to receive a mailed replacement. Wayfair Mastercard customers, however, get a physical card.
- Special financing can be risky: Wayfair offers 0% interest on purchases for up to 24 months but if you don’t pay off your balance by the end of the promo period, Wayfair will charge you interest on the entire purchase amount. This type of financing is known as “deferred interest.”
- Poor welcome offer: You’ll get $40 off your first purchase, but you must spend $150 or more in order to get it. That equates to 27% off a $150 purchase, and that percentage declines for bigger purchases (10% for a $400 purchase, for example). Other retail cards may offer as much as 20%-30% off your first purchase, and often without a spending minimum.
- Rewards can only be redeemed on Wayfair sites: While not unusual for store cards, you should be aware that you can’t redeem your rewards for cash back
Wayfair Credit Card Bonus for New Cardholders
Wayfair offers new cardholders $40 off their first purchase with the card, but you must spend at least $150 to qualify. It can’t be combined with other discounts, so don’t bother looking for a coupon code for your first purchase.
Earning Points & Rewards
Purchases made on Wayfair websites will earn 5% back in the form of Wayfair Credit Card Reward Dollars. Wayfair’s websites include:
If you qualify for the Wayfair Mastercard, it has the same rewards rate on Wayfair purchases, plus you’ll earn 3% at grocery stores, 2% on most online purchases, and 1% on everything else. While you can shop anywhere that Mastercard is accepted, you still can only redeem your rewards on Wayfair purchases.
You can choose to earn 5% rewards on your purchase or special financing. Special financing terms can range from 0% for six months for purchases over $199 to 0% 24 months for purchases over $2,999. There are also “Major Purchase Plans” that offer up to 60 months at 9.99% APR for orders of $3,000 and up.
If you earn Wayfair Reward Dollars, you can select and apply them during your next online checkout at a Wayfair site. You can also ask to use your reward if you’re shopping by phone. You cannot redeem your Reward Dollars for cash back or statement credits because the rewards have no cash value.
You’re allowed to redeem up to $2,500 in Wayfair Credit Card Reward Dollars per month, and there’s no minimum amount that you have to use. Rewards never expire.
If you close your credit card or do not keep your account in good standing, you will lose your Wayfair Credit Card Reward Dollars. “Good standing” includes the following criteria plus a few other situations listed in your card’s terms:
- Your card is open
- You aren’t over your credit limit
- Your bill isn’t 60 days or more past due
How to Get the Most Out of This Card
If you’re looking to pay off your purchase over time, the special financing offer could be helpful if you have steady income and a monthly budget that allows for the added payments.
Whether you choose to get rewards or put purchases on a payment plan, it’s important to pay off your balance as soon as possible. The card’s high interest rate will generate interest payments that could cost more than the discount you receive and can be particularly costly if you don’t pay off your balance by the end of your promotional financing.
Your best bet is to choose the rewards over the special financing in most cases, unless you are highly disciplined and have a plan to pay off your entire purchase on time.
If you have any questions or issues with your account, you can call customer service or request help online 24/7. You can manage your account and make payments online as well as set up automatic payments, which can be especially useful if you’re using the special financing feature.
The Wayfair Credit Card offers standard security features. Since there is no physical card and your digital account can only be used at Wayfair stores online, as long as you keep tabs on your account, you shouldn’t have to worry much about account tampering. Should you spot an error or suspect a fraudulent charge, contact customer service right away.
Wayfair Credit Card’s Fees
The Wayfair Credit Card has no annual fee, and late and other fees are in line with most cards.