Earlier this year it was announced that Comenity would no longer be issuing the Wayfair credit card. Today it was announced that Citi have won the co-branded partnership with Wayfair beating Alliance Data Systems. Citil is issuing two Wayfair cards, one a store card that only works for Wayfair purchases and the other a Mastercard that works at Wayfair and wherever Mastercard is accepted. The earning rates are as follows:
- 5% back in rewards on all Wayfair purchases (both store & Mastercard)
- 3% back in rewards at grocery stores (Mastercard only)
- 2% back in rewards on online purchases (Mastercard only)
- 1% back in rewards on all other purchases (Mastercard only)
There is also a sign up bonus of $40 off your first Wayfair purchase of $250 or more.
Will be a huge mistake for Wayfair. I’ve had my wayfair card for a few years with a huge credit limit an now my credit will take the double hit of an account being closed as well as the credit being reduced on your overall debt to available credit. Citi will deny most of the applications as they have stringent credit requirements so wayfair loses existing customers an most will not take a hit to their credit by applying again. From what I’ve read on a lot of post on Facebook Citi’s prequalify for the Wayfair card is already denying most checking. Oh well guess its off to the other stores. Wayfair should have negotiated citi taking over preexisting accounts like Best Buy did years ago when Household Bank stop servicing their card.
Can’t wait to earn points on my next $10,000 “pillow” from Wayfair!
Will the old card account be taken over by Citi, or will you have to reapply? If reapply that stinks because that’s one of the first credit cards I have and used the credit card trick.
Probably the first thing I learned and started following this site.
Hi, you will have to reapply with Citibank. It does stink, I have been with Wayfair Comenity 5 years and they were great. I tried applying with Citi for Wayfair credit card and they didn’t give a immediate answer like Comenity, they said they will let me know in 7-10 days and I have a 700 credit score with good credit. I hate the change.
WayFair Corporate Security is ready for us!
Are the rewards really as cash back, 3% grocery would be 3 cents per dollar spent?
Or is the rewards as some kind of “cash” valued at less than 1 cent each?
It’s rewards credit, let me fix.
Thanks for clarifying
Is it actually “cashback” or is it actually “WayFair Credit” which can only be redeemed for Wayfair purchases? I have reason to believe it’s the latter, not the former.
It’s rewards credit, let me fix.
This looks so close to what Sears is offering… now to wait and see if it offers perks like the Sears MasterCard.
What a terrible sign up bonus.
Beats the Costco offer
Costco’s by far a better card though.