Overstock’s credit card is designed to reward customers who shop at the online furniture and home décor retailer. It does a good job on this front. The card earns Overstock.com 5% back and includes a membership to Club O, the loyalty program that offers more ways to earn points. (Image by Citi) However, the main […]

Overstock’s credit card is designed to reward customers who shop at the online furniture and home décor retailer. It does a good job on this front. The card earns Overstock.com 5% back and includes a membership to Club O, the loyalty program that offers more ways to earn points.

(Image by Citi)

However, the main problem with Citi’s Overstock credit card is its limited redemption options. Points earned from Overstock purchases cannot be converted into credits to pay for additional Overstock orders.

The Overstock credit card can be a great fit for loyal Overstock customers. It can help you save money on home goods. A general cash-back card is better if you choose Wayfair for your furniture needs or want to have a variety of redemption options.

Five things you need to know about Overstock’s credit card.


There are technically two Overstock credit cards. The Overstock Mastercard is issued by Citi and the Overstock Store Credit Card is issued by Comenity. This review will focus on the Citi-issued Mastercard version. It earns rewards and can also be used wherever Mastercard is accepted. The Comenity-issued storecard does not earn rewards, and can only be used for Overstock purchases.

1. It has solid rewards

NerdWallet’s top-rated cash-back cards are comparable in terms of rewards rates for the Overstock credit card with a $0-annual-fee. The tiered rewards structure allows you to earn more in certain categories than with a flat-rate card at 2%. However, you will only be earning the following rates in rewards and not cash back.

  • Overstock.com purchases eligible for a 5% rebate This rate is also available with the Club O card. However, unless you have the card you will have to pay to join Club O. You can read more about that below. )

  • Get 3% off your apparel and department store purchase.

  • Gasoline: Get 2% back (Gas bought at superstores, supermarkets, and warehouse clubs earns 1% )

  • Get 1% off all qualifying purchases

Reward points can be used to redeem for Overstock dollars. General cash-back cards like the Wells Fargo Active Money(r), Chase Freedom Unlimited(r), and Chase Freedom Unlimited(r), offer a wider range of redemption options, which typically include statement credits or direct deposits.

2. Overstock’s Rewards Program is free to you

Club O memberships cost $19.95 per year. However, you will get it free of charge if you have the Overstock card. You can earn more rewards points by joining Club O. Club O members enjoy:

  • No-hassle returns on eligible products.

  • Matching prices with selected competitors

  • Get double rewards for reviewing products, up to 4,000 points per review.

  • Access to Overstock’s Extra Rewards Store. Here you can purchase items that earn as much as 40% more in rewards.

3. Redeemable rewards are easy and valuable

While it is true that the Overstock credit cards rewards are for Overstock.com purchases only, that doesn’t mean that you won’t be able to use your points elsewhere. Overstock’s reward policy is flexible and generous.

You don’t have to spend a lot of money to earn rewards. Rewards earned from purchases also don’t expire. Reward points earned by writing reviews and referring others expire after 90-days. After 45 days, membership bonus rewards that are earned for eligible purchases made prior to joining Club O expire.

You can combine rewards with coupons, discounts and credits without restrictions. There is no minimum redemption amount.

4. However, ‘Special financing is’ available.

The Overstock credit card offers two types of financing: long-term and short-term. As long as the balance is paid off in full, short-term financing won’t charge you interest. Long-term financing charges interest but at a lower rate (9.99%) than the ongoing APR for purchases (31.49%). Purchases starting at $199 are eligible for financing. Terms range from six to sixty months.

Be wary of short-term deals, which can last from 6 to 24 months. These are not 0%-interest promotions where interest is waived. Instead, these are deferred interest offers where the interest is only set aside for a specific time. These types of offers are not 0%-interest promotions, where interest is truly waived. Instead, they offer deferred-interest offers, which allow you to pay interest retroactively to the date you purchased it. Yikes.

There are better options for financing large purchases. Cardholders of the Bank of America(r), Customized Cash Rewards credit cards get a long promotional reprieve from interest: 0% intro rate on Purchases for 18 cycles, 0% intro rate on Balance Transfers for the same period for all balance transfers made within the first 60-days, then the ongoing APR of 18.24%-28.54% Variable APR. If you do not pay the balance in full within the timeframe, interest will not be charged retroactively.

You can also earn rewards with the card, including online shopping as one possible bonus category.

5. To enjoy many of the benefits, you don’t need to have the card.

You can get 5% off your Overstock purchase without the Overstock credit card or Club O membership.

Overstock offers a free 1-year Club O membership to active military personnel, veterans, teachers and students, first responders, nurses, and other medical providers.

This workaround to get 5% back does have limitations. It is not available for everyone and it only lasts for one year. However, it may still be worth looking into. If you are looking to purchase furniture for your new home, you may want to get a discount on the upcoming costs. Club O is a free membership that you can take advantage of the 5% rewards rate. The membership will expire at the end of the year.

Other cash-back cards can earn you the same or higher rewards rate than the Overstock credit card if department stores and gas are high spend areas. American Express Blue Cash Everyday(r), a $0-annual-fee card, earns 3% on U.S. online purchases and U.S. gasoline stations up to $6,000 per category. Terms and conditions apply. See rates and fees.

You could also make the Citi Cash(sm), Card your designated gas card. As long as gasoline is your highest spending area during the billing cycle, you’ll receive 5% off gas for up to $500 The annual fee for this service is $0.

This page shows the rates and fees for the Blue Cash Everyday (r) Card from American Express.