In lieu of rewards, the Wayfair cards offer cardholders a no-interest financing option. Cardholders can choose to pay off a purchase in a fixed amount of time while it accrues no interest. However, if cardholders are unable to pay off the balance in the given timeframe, they will be charged retroactive interest back to when the purchase was made. The Wayfair cards currently have an APR of 27.24%.
Here are the available financing options:
- 6 months no interest financing for orders over $199
- 12 months no interest financing for orders over $499
- 18 months no interest financing for orders over $1499
- 24 months no interest financing for orders over $2999
In order to avoid a potentially huge payment by not paying the balance off in time, be sure you're making more than just the minimum payment. It's a good idea to calculate just how much you'd have to pay each month in order to get it paid off with a month or two left to spare.
And until 9/30/22, cardholders can choose from these additional financing options as well:
- 9.99% APR for 36 months on orders over $2,999
- 9.99% APR for 48 months on orders over $3,999
- 9.99% APR for 60 months on orders over $4,999