Wayfair Credit Card Review: 6 Considerations To Make

Store credit cards are one of those things that you have no idea you’re missing out on until you try them.

They are a great way to save a whole lot of money and get rewards on items that you were planning on buying regardless!

For expensive items such as furniture, a store credit card can end up saving you hundreds or even thousands of dollars if used correctly.

Today, I’ll be taking you through my experience with a Wayfair credit card and helping you decide whether this card is a good fit for you.

Let’s go ahead and jump right into it!

1. Sign Up Benefits

When you sign up for a Wayfair credit card, you can expect some incredible benefits.

This is one of the factors that drew me in initially – safe to say I was not disappointed! You can get $40 off your first qualifying online order of at least $250.

This is a great deal, and frankly, a no-brainer if you are planning to buy several hundred dollars worth of goods from Wayfair in the first place.

A sign-up discount is always a green flag in my books, and this Wayfair deal is no exception.

2. No Membership Fee

A lot of the time, people can be hesitant to sign up for membership cards because they aren’t sure it’s going to be worth the annual fee.

The best part about the Wayfair credit card? There is no annual fee!

This means that whether you use a credit card every day or only a few times per year, there really is no downside. In a world that is full of hidden fees and annual costs, this is a refreshing (and welcome!) change.

3. Rewards Benefits

So, what rewards can you actually expect to see when using a Wayfair credit card?

There are a range of perks that come along with this card. For one, you earn 5% back in Rewards Dollars whenever you use your card at Wayfair Sites.

However, your rewards are not limited only to Wayfair Sites! You can earn 3% at grocery stores, 2% for qualifying online purchases not made at Wayfair Sites, and 1% on all other purchases.

Each month, you can redeem up to $2500 in Rewards Dollars on any retail site by applying them at checkout when you use your Wayfair credit card.

This is one of the many reasons why I love the way this credit card functions: no-nonsense rewards and benefits that are easy to redeem!

4. Credit Score Requirements

Before you apply for any card, one thing to keep in mind is any credit score requirements that they might have. In order to get a Wayfair credit card, you will need a minimum credit score of 700.

For those with good credit, applying for this card is an easy decision. However, if your credit score is below 640, it’s best to not waste your time applying for this card.

5. High Foreign Transaction Fees

If you do plan on getting a Wayfair credit card, one thing to keep in mind is that it is best not to use it outside the US.

This is because the card does have a 3% foreign transaction fee~ If you are somebody who travels a lot or will need to make frequent purchases in other countries, this may not be the ideal credit card for you.

There are other credit cards out there that are better suited for foreign transactions, such as travel credit cards. These cards will often have much lower foreign transaction fees (or none at all).

6. High APR

When it comes to APR, the Wayfair credit card is a little higher than most!

With an APR of 32%, this is certainly not the credit card for those looking for a low APR. Most of the popular credit cards offered by other companies have APRs in the mid-twenties.

The Wells Fargo Active Cash Card has an APR of 20.24% - 29.99%, while the Chase Freedom Unlimited card has an APR of 20.49% - 29.24%. There is also a range of credit cards with super low APRs – some with periods of 0% APR.

Who Does The Wayfair Credit Card Make Sense For?

At the end of the day, the Wayfair credit card is perfect for those who are looking to furnish a room or entire living space and are looking for the best discounts and deals.

One important thing to keep in mind is that in order to get this credit card, you will need an above-average credit score!

The benefits that this card can provide, particularly when it comes to large purchases, are phenomenal. The 5% reward that you get on any Wayfair purchase can cut down on the cost of your future purchases by a great deal.

For example: if you need to invest in a new entertainment suite that costs you $3000, by using your Wayfair card you now have $150 dollars back to use on your next purchase – just like that. That’s not even considering the signup bonus!

That being said, if you are not someone who makes many Wayfair purchases, then you may not get a lot of use out of the benefits of this credit card. Their 5% rewards are not cashback, meaning they can only be used when purchasing through Wayfair.

For those who do spend a fair amount of money at Wayfair, however, this credit card is a great, risk-free investment that can end up saving you a whole lot of money.

In addition to a Wayfair credit card, another great and simple way to save a great deal of money at Wayfair is by using coupons from CouponFollow.

This is one of those life hacks that you never knew you needed and can end up cutting down your purchase costs immensely.

about the author

Clay Cary
Senior Trends Analyst
As an e-commerce analyst at CouponFollow, Clay enjoys spending his time collaborating with brands to make helpful content for consumers and finding great deals to share on CouponFollow. As a recent college graduate, his primary focus is creating resources for consumers, especially students, to save money through online shopping and everyday life.