bank rates Card Rewards: 8% Rebate

This MasterCard carries no annual fee.The MasterCard has one of the most generous rewards programs around. If you’re a frequent customer, this card is a must for holiday shopping.

You could earn a whopping 8% rebate on purchases at the online discounter.

Here’s a look at the credit card details:

APR 15.99% variable; 0% on purchases for first six months (prime rate of 3.25% plus 12.74%)
National Average APR 14.99% (source:
Annual Fee None
Rewards 8% rebate on purchases at, 1% on all other purchases, redeemable for future purchases at Overstock. Free shipping on purchases made to the card. Free membership in Club O frequent shopper program (a $19.95 value). $30 statement credit after first transaction.
Verdict This is one of the most generous credit card rewards programs around but may only appeal to frequent Overstock shoppers. You also may need good credit to qualify.

Overstock’s frequent shopper program, Club O, costs $19.95 a year. For that, you get 5% back on all of your purchases at the online retailer and free shipping on most of your purchases (except for books, CDs and DVDs under $25).

The Overstock MasterCard is a much better deal. Not only does the credit card have no annual fee, but you get Club O membership for free, too.

And you’ll earn an extra 3% rebate over the Club O benefit, for a total of 8%. You also earn 1% on all of your non-Overstock purchases.

Rebates are redeemable for rewards dollars at Overstock (not as cash), and there’s no limit on how many you can earn.

The 8% rebate is good online in the “shopping” tab only. For example, it’s not available to buy cars, insurance or travel.

You also get a $30 statement credit after your first transaction, whether it’s a purchase or a balance transfer.

That statement credit was recently increased from $20, and the website says it’s only for a limited time, so act quickly to take advantage of it.

You also get all of the other advantages of being a Club O member, such as exclusive deals and invitations to shopping events.

In addition to the great rewards, the APR is a moderate 15.99%. However, that probably means you’ll need to have pretty good credit to qualify.

There’s also 0% interest on purchases for the first six months. And there’s no preset spending limit.

But don’t use this card for balance transfers: The 0% APR doesn’t apply on those, and there’s a high 5% fee on transfers.

Compare this deal with the top credit card offers in our extensive database.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (1)
1 Star2 Stars3 Stars4 Stars5 Stars (6 votes, average: 4.17 out of 5)
One Existing Comment
  1. claire said:
    on December 6th at 10:33 am

    This is a good deal — but is it really worth it to add to your credit? And chasing after this or that deal gets to be exhausting after a while.