About Bed Bath & Beyond Mastercard
The Bed Bath & Beyond MasterCard is a popular credit card with the store’s customers because it offers a trio of rewards rates that provide you cash back for future purchases at all the stores under the Bed Bath & Beyond umbrella.
In addition to those rewards rates, you also get various chances to earn cash bonuses and gift certificates based on how much you spend in the first six months owning your card.
It’s important to note that this is a MasterCard and not a straight store credit card; that means you can use it wherever you want and the APRs are a lower than a store credit card that you can only use at that store.
It can be super easy to look at all the rewards this card offers and sign up without thinking, but we suggest taking a few minutes to think about the whole picture:
- What kind of rewards does the card offer?
- What are the benefits you get aside from rewards?
- What are its rates and fees?
- What are people saying about using the card?
Each one of these four questions, we believe, is crucial to making a smart choice about the Bed Bath & Beyond card.
As we walk through the answers to each one, we’ll add some advice we’ve learned through reviewing more than 100 credit cards and some of the top store cards.
At the end of our review, we’ll wrap up with three quick sections: pros, cons and who we think this card is good for.
The Bed Bath & Beyond MasterCard’s Rewards
We mentioned in the first part of our review that this card has three different levels of rewards, each of which racks up a cash rewards balance you can redeem for purchases at any of the stores in the Bed Bath & Beyond family. Those stores include:
- Buybuy BABY
- Christmas Tree Shops andThat!
- Cost Plus World Market
- Harmon Face Values
5% Back at Bed Bath & Beyond Stores
Whenever you use your card to make purchases at any of the stores we just listed, you’ll earn 5% back in cash rewards that you can redeem on purchases you make at those stores.
So, if you spend $500 at buybuy BABY, you’ll earn $25 in cash rewards for future purchases.
2% Back at Gas Stations and Grocery Stores
Based on our research, we believe this category of rewards will bring you the biggest yearly returns, mainly because the Bureau of Labor Statistics says that the average American household spends around $6,000 on gas and groceries each year.
Rewards-wise, that’s $120. Even though the cash-back rate in this category is 40% less than the rewards rate on BB&B purchases, the fact that you’ll spend far more on groceries and gas than you will at BB&B is what makes this category so valuable.
The only drawback to this category is that you most likely won’t earn rewards on gas and grocery purchases you make at superstores like Walmart and Target as well as warehouse clubs like Costco, B.J.’s and Sam’s Club.
These stores are often exclusions with rewards cards because they don’t classify themselves as grocery stores and their gas stations aren’t classified as traditional gas stations like a Chevron, BP or Shell.
1% on Everything Else
Purchases that don’t fall into any of the categories we list above will earn 1% cash back. Those Labor Statistics numbers we mentioned earlier say that the average household can spend at least $20,000 a year in the “everything else” category.
How much can all these rewards earn you? We think you can easily earn $320 a year, plus 5% of whatever you spend at Bed Bath & Beyond ($25 in rewards per $500). Our conclusion – there’s a rewards potential of at least $350 a year.
$25 or $75 Gift Certificates
In addition to earning cash back, you have the chance to earn either a $25 or $75 gift certificate you can use at any of the BB&B brands.
If you can spend $1,000 in the first six months you’ll get the $25. If you spend $6,000, you’ll earn the $75 gift card.
According to the fine print, it will take 90 days to get your gift certificate after you meet your spending requirement.
Zero-Interest on Purchases
The final main rewards you get with the Bed Bath & Beyond is a pair of offers for zero-interest:
- 6 months of 0% on purchases between $250 and $499.99
- 12 months of 0% APR on purchases above $500
Unlike regular credit cards that only charge you interest on balances left at the end of the promo period, store credit cards like this one will charge you interest for the original purchase amount if you don’t pay your balance in full by the end of the intro period.
When you first get your card, you’ll get a coupon for $25 off a purchase of $100 or more.
The Bed Bath & Beyond MasterCard’s Benefits
The benefits you get with this card are minimal. You get the basic 24/7 access to your online account and zero liability for fraudulent purchases, but that’s about it.
This is one of the distinct advantages of going with a non-store credit card. Not only are the rewards universal – you don’t have to use them at a particular store – but you can also get various insurance-style protection on purchases and travel.
The Bed Bath & Beyond MasterCard’s Rates and Fees
In the very beginning of our review, we mentioned that you get better interest rates with this card than you would with a credit card you can only use at a certain store.
But, remember, in order to get a better interest rate you’ll have to have better credit scores. Through our research, we’ve discovered that the best interest rates are usually reserved for people with credit scores above 700.
With this in mind, here’s a list of the card’s interest rates and fees:
- APR: 14.99%, 18.99% or 24.99%
- Balance transfer and cash advance APR: 26.99%
- Annual fee: None
- Balance transfer/cash advance fee: 5%
- Foreign transaction fee: 3%
- Late/returned payment fee: $38
What’s surprising about this card is that its low-end APR is actually pretty reasonable. It’s not nearly as low as some low-APR and cash-back cards like what you’d get from Discover, but the 14.99% is better than the travel cards you get from Chase.
A word of warning, though. The 26.99% balance transfer APR is abnormal. You normally see these APRs mimic what you get on purchases. However, this card puts the balance transfer rate at where cash advances are. Our advice: Don’t use this card for balance transfers.
We also noticed that the fee for balance transfers and cash advances is higher than the typical 3% or 4% we see with other credit cards.
Public Opinion About the Bed Bath & Beyond MasterCard
In general, the card gets average to above average reviews, mainly because it’s a MasterCard-branded store credit card. As we talked about earlier, this means that you get better rewards structures and interest rates.
As far as customers go, we found varying reviews. Several posts we read on FICO’s consumer-focused MyFICO site said they were disappointed that the card is issued by Comenity Bank. What that means is that Bed Bath & Beyond works with Comentiy Bank to provide the financial backing for the cards.
Comenity is a popular bank for store credit cards – B.J.’s, Crate $ Barrel, David’s Bridal, Orbitz, Pier 1 Imports and Victoria’s Secret are examples.
The Pros of the Bed Bath & Beyond MasterCard
The strengths of this card are the rewards rates it offers on BB&B, gas and grocery purchases. In our opinion, these rates are some of the best among store credit cards, as the Walmart card has a 3/2/1 structure and the Target REDcard gives 5/1 discounts.
Another strong point is the low-end APR of 14.99% which is far better than getting a non-MasterCard or non-Visa store credit card.
Cons of the Bed Bath & Beyond MasterCard
Based on our research of the Bed Bath & Beyond Mastercard, we believe that the card’s drawbacks are its rewards structure. This may seem counterintuitive, but you have to remember that, since it’s a MasterCard, then it should be compared to other rewards cards that aren’t linked to a particular store.
And, when you make those comparisons, there are cards out there with better rewards on the purchases you most often make. A good example of this is the American Express Blue Cash Preferred. That card gives you 6% back on groceries and 3% on gas.
Who Is This Card is Good For?
We believe that the best person for this card is someone who makes consistent monthly purchases at Bed Bath & Beyond, has credit scores above 700 and who won’t use this card for balance transfers or cash advances.
If that sounds like you, then we think this card’s 5% rewards and low-end APR are a good fit. However, if you think there might be a better card out there for you, then read our Blue Cash Preferred review and then take a look at the Bank of America Cash Rewards card. Both of these offer better rewards rates than the Bed Bath & Beyond MasterCard.