Top perks
There are a few valuable benefits with the Wayfair Credit Card, with the best being your choice of 5% back or no-interest financing.
5% back at Wayfair
The Wayfair Credit Card offers 5% back in rewards at all Wayfair retail sites. It earns Wayfair Credit Card Reward Dollars, which are like cash back that can only be used at Wayfair.
As far as rewards go, 5% is an excellent rate that matches the best store credit cards. If you shop at Wayfair often, a Wayfair card can earn you quite a bit back. Note that when special financing is available, you have the option of rewards or financing the purchase, but not both.
The Wayfair Mastercard® also earns:
- 3% at grocery stores
- 2% online
- 1% elsewhere
Those rates are reasonable for a no annual fee credit card. Now, "online" is a broad spending category, and it's worth mentioning that not all online purchases qualify. For example, payments for online subscription services and utilities bills are excluded. You can see a full list of exclusions in this card's terms and conditions.
If supermarket perks are at the top of your list, check out our picks for the best grocery credit cards.
Easy-to-use rewards
Some credit cards make redeeming rewards overly complicated. Fortunately, the Wayfair Credit Card isn't one of them.
When you use your Wayfair Credit Card on any of its sites, you can cash in any Wayfair rewards you have during the checkout process. By redeeming rewards, you lower the price of qualifying purchases. There's no minimum threshold to redeem rewards, and rewards never expire.
Learn more: Best Rewards Credit Cards
No-interest financing for up to 24 months
The Wayfair Credit Card offers the following no-interest plans (you won't earn rewards on purchases you finance):
- Six-month financing on orders over $99
- 12-month financing on orders over $499
- 18-month financing on orders over $1,499
- 24-month financing on orders over $2,999
These financing plans have deferred interest, which means you need to pay off the entire purchase by the end of the allotted time period. Otherwise, interest is charged going back to the purchase date. Essentially, that means that if you financed a $3,000 purchase over 24 months, but had a $500 balance remaining at the end of 24 months, you'd be charged interest on the entire $3,000 versus the $500 remaining balance.
If you need some time to pay off new furniture or appliances, a financing plan can come in handy. Just make sure to only use financing when necessary and to pay off the purchase in full before the plan ends. You may also want to look at 0% intro APR credit cards. They tend to have better financing offers and waive interest entirely for a set period.
Up to $40 introductory discount
You get an introductory discount on a qualifying first order paid with your Wayfair Credit Card. The discount amount is based on the order total excluding tax and shipping charges.
No annual fee
Neither the Wayfair Credit Card or the Wayfair Mastercard® charges an annual fee.
Lenient approval requirements
Store cards are often good for building credit because they're easier to get than traditional credit cards. That's the case with the Wayfair Credit Card. You could get approved even with a low credit score, and Wayfair offers an online tool you can use to see if you prequalify.
If you've been having a hard time getting approved for a credit card, a Wayfair Credit Card is worth a look. Even though it doesn't have the most benefits, it can help you improve your credit.