Christine Krzyszton 
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June 25, 2020 
Overstock.com is a billion dollar, tech-driven online retailer offering bargains galore. Shopping on their site is a lot of fun because you can buy anything, even a room full of furniture, and get free shipping as long as your order is $45 or more.
They also have their own credit cards, allowing avid Overstock shoppers who are also cardholders to reap even more benefits when shopping on the site. Let’s take a look at what you can expect from the Overstock credit cards and at some alternative cards to consider.
If You Have Fair Credit, the Overstock Credit Card Is for You
First, be aware that there are two Overstock cards, the Overstock store credit card and the Overstock Rewards MasterCard. Neither charges an annual fee.
The Overstock store card is issued by Comenity Bank and requires just a fair credit score to be approved. Benefits of the card include:
- 10% off your first purchase
- Special promos for cardholders
- Use of your store card immediately after approval
- Special deferred interest financing with 6-, 12-, 18- and 24-month options (a minimum purchase amount applies of $249, $499, $1,499 and $1,999 respectively)
There is nothing spectacular about the benefits of the Comenity Bank Overstock card. You can secure a 15 percent off discount code just by signing up for promotional emails on their website and receive additional special promotional alerts and deals. You don’t need a card for those perks.
You will only be able to use the Overstock store card on Overstock.com, and the card does not earn rewards.
Special Financing With the Overstock Credit Card
Deferred interest financing, which is common with store cards, can be helpful to spread out the repayment of a large purchase, but this type of financing can have expensive consequences if you make a late payment or fail to pay off the balance before the deadline. These actions trigger late fees and high interest charges that are applied retroactive to your purchase date, negating any benefit of the financing and costing you dearly.
Earn More With the Overstock MasterCard
The Overstock MasterCard is not issued by Comenity, but instead by First Bankcard, a division of First National Bank of Omaha. You will need a good to excellent credit score to qualify for the card.
You’ll receive all of these exclusive benefits of the Overstock MasterCard:
- $20 statement credit after first purchase
- Up to 8% rewards on Overstock purchases
- 2% rewards at grocery stores and gas stations
- 1% rewards on all other purchases
- Free Club O Rewards membership
- Extra Club O Rewards offers for up to 40% back
- Free shipping
- Free FICO score monitoring
- Promotional 0% APR financing offers
- Special discount codes and exclusive cardholder offers and coupons
The Club O Rewards program is the foundation for earning rewards with the Overstock Rewards MasterCard. Membership normally costs $19.95, but cardholders are enrolled for free with the Overstock MasterCard.
The Club O Rewards Loyalty Program – Get Up To 40% Off!
Club members receive 5 percent rewards on every purchase at Overstock.com. In addition to the 5 percent, Overstock MasterCard holders receive an additional 3 percent back, for a total of 8 percent back. Rewards can be used for future purchases.
Gas station and grocery store purchases on the card earn 2 percent rewards, and all other purchases earn 1 percent. Club members also receive 5 percent dining rewards, free shipping and returns, and exclusive shopping event invitations.
Special Club promos can result in rewards of up to 40 percent back in Overstock dollars.
The bottom line is that every purchase made on your Overstock Rewards MasterCard earns rewards that can be used for future Overstock.com purchases.
An Alternative to the Overstock Credit Card
The Citi Double Cash® Card would make a good choice as an alternative to the Overstock Rewards MasterCard as you will earn 2 percent cash back on every purchase you make on the card.
You’ll get 1% cash back when you make a purchase and 1% when you pay your balance. Cashback rewards are much more flexible than having to use rewards for additional purchases, like you would with the rewards earned on the Overstock Rewards MasterCard. The card also does not charge an annual fee.
If you’re looking for
Earn More With Two Cards
If you do feel compelled to apply for the Overstock Rewards MasterCard because you spend a lot on Overstock.com, you could super-charge your earnings by supplementing it with the Citi Double Cash® Card credit card for those purchases that receive less than 2 percent rewards on the Overstock MasterCard.
If You Have Bad or No Credit
If your credit history is poor or you have no credit history, you can easily find a secured card that earns rewards such as the Capital One Secured Mastercard as an alternative to the Overstock Store Credit Card.
Such a card can help you build or rebuild your credit and allow you to earn rewards at the same time.
Questions About the Overstock Credit Cards
What is the difference between the Overstock store card and the Overstock MasterCard?
The cards are issued by two different financial institutions and vary significantly in their offerings. The Overstock store card is issued by Comenity and can only be used on Overstock.com. It does not earn rewards or offer exclusive coupons, but it comes with a one-time 15 percent off discount code.
The Overstock Rewards MasterCard, issued by First Bankcard, can be used anywhere MasterCard is accepted and it comes with rewards earning capability, shopping perks, discount codes, FICO score access and more.
How do I earn rewards on the Overstock credit card?
The Overstock credit card does not earn rewards, but you can join the Club O Rewards Program for $19.95.
The Overstock Rewards MasterCard comes with free membership in the Club O Rewards program. Once you’re a member of the Club, you will start to earn Overstock rewards dollars on every purchase that can be used toward future purchases.
How do I apply for the Overstock credit card?
To apply for the Overstock credit card or the Overstock MasterCard, simply go to Overstock.com. Scroll to the bottom of the page and you will find a separate link for each card. Select either “Apply for the Overstock Store Credit Card” or Apply for the Overstock Rewards MasterCard”.
Complete the application and hit “submit.” If you do not receive an immediate approval, you can view your application status here.
How much is the annual fee on the Overstock card?
Neither the Overstock Store credit card nor the Overstock Rewards MasterCard charges an annual fee.
Can I get both the Overstock store card and the Overstock Rewards MasterCard?
The short answer is yes. If your credit history is strong enough, you could certainly get both cards. However, there is little need to get the store credit card as the Overstock Rewards MasterCard comes with far superior benefits than the store credit card.
Should You Get the Overstock Store Card?
While the benefits of the Overstock credit card are not that compelling, there may still be a reason to apply if you’re planning a large purchase on Overstock.com.
If you make a purchase with the Overstock card for $1,000, you would receive a $100 first-purchase discount. If you pay the $19.95 fee to join the Club O Rewards program (which does not come with this card), you’d get an additional 5 percent back. That would be another $50 off, which more than offsets the cost of the Club membership.
You could also utilize a special financing offer that comes with the card to spread out the repayment.
However, getting any credit card is a serious decision that may be more than just a single purchase decision. You might ask yourself: “How can this credit card help me in the future if I manage it well?” For this reason, you may want to consider alternative credit cards.
What About the Overstock MasterCard?
If your credit history is good to excellent and you shop a lot at Overstock.com, the Overstock Rewards MasterCard delivers enough benefits to consider getting it.
You can’t go wrong getting up to 40 percent back in rewards when special purchase promos are offered. And while the sign-up bonus is weak at $20, you’re earning 8 percent back on Overstock purchases and up to 5 percent rewards on other purchases.
Add in 0% APR financing, free shipping, no annual fee, FICO score monitoring and the flexibility to use the card anywhere MasterCard is accepted, then there is certainly value in the card for frequent Overstock.com shoppers.
Get the Best Card for You
While you can certainly do better than the standard Overstock credit card, the Overstock Rewards MasterCard could be a great card for a frequent Overstock.com shopper. It has solid benefits, great earning potential and allows you to earn rewards for free.
You may still be better off with a solid cashback card, like the Citi Double Cash, because its rewards are a lot more flexible. The final decision needs to be based on your personal spending habits and what you want out of a card.