Bed Bath & Beyond Welcome Rewards Mastercard 2022 Review – Forbes

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Fact Checked
Fact Checked
Published: Nov 23, 2022, 9:00am
We’re not getting out of bed for the Welcome Rewards™ Mastercard®*, but those who shop often at Bed Bath & Beyond or its affiliate stores may want to. The card earns outsized rewards at Bed Bath & Beyond, buybuyBaby and Harmon Face Values stores, but these rewards can only be used in store. For those who enjoy turning their beds into the sorts of places no one would ever want to get out of, this may be a worthy offering.
The Welcome Rewards™ Mastercard®* earns 60 points per dollar spent at Bed Bath & Beyond, buybuy Baby and Harmon Face Values, 20 points per dollar spent at gas stations and grocery stores and 10 points per dollar spent anywhere else, but its rewards may only be used in store at an affiliate brand: Bed Bath & Beyond, buybuy Baby and Harmon Face Values.
The card’s rewards receive a significant boost from a Welcome Rewards+ Membership—a perk new cardholders receive for free for one year. After the free year, Welcome Rewards+ Membership costs $29 and auto-renews. With a membership, cardholders earn an additional 40 points per dollar spent within the Welcome Rewards family of brands, for a total of 100 points per dollar spent. To earn back this $29 fee in additional rewards after the first year, a cardholder would need to spend $725 per year within the family of brands. The Welcome Rewards+ Membership does offer other perks, including a 20% discount on eligible in-store, app or online purchases, plus shipping benefits, coupon discounts and exclusive deals. These perks are also available to non-cardholders who pay for the program.
The Welcome Rewards™ Mastercard®* also offers six- or 12-month special financing. Six-month financing is available when spending $250 to $499.99 at a store within the family of brands and 12-month financing is available when you spend $500 or more at a store within the family of brands. This financing is subject to minimum payments and involves deferred interest financing. Though you will not be charged interest if you pay off the full amount by the end of the special financing period, interest will be charged retroactively to the date of purchase if you do not completely pay off the amount by the end of the period. Purchases financed do not earn rewards.
The Welcome Rewards™ Mastercard®* earns 60 points per dollar spent at Bed Bath & Beyond, buybuy Baby and Harmon Face Values, 20 points per dollar spent at gas stations and grocery stores and 10 points per dollar spent anywhere else. With the free-in-the-first-year Welcome Rewards+ membership, the card earns an additional 40 points per dollar spent at stores in the family of brands for a total of 10 points per dollar spent.
Points are earned when an order ships or when possession is taken in-store, but remain pending until after return eligibility ends. Points expire 366 days from the date they’re earned unless a purchase is made inside the first 365 days, in which case the expiration is extended another year.
The Welcome Rewards™ Mastercard®* includes a welcome bonus: 1 free year of Welcome Rewards™+ after card application approval.
Rewards earned with the Welcome Rewards™ Mastercard®* may be redeemed for My Rewards after reaching a 5,000 point threshold. My Rewards may be redeemed in various amounts:
My Rewards can be redeemed for purchases at Bed Bath & Beyond, buybuy Baby or Harmon Face Values or online. My Rewards expire 90 days after conversion.
To determine the rewards potential of the Welcome Rewards™ Mastercard®*, we consider what an American household might spend on a credit card each year. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. Our estimated 70th percentile household brings in $107,908 annually and we base spending on that number.
Forbes Advisor estimates that the household has $32,072 in expenses that can be reasonably charged to a credit card. Of this, we estimate $2,850 will be spent on gas purchases and estimate a big fan of the brand might spend $500 at a Bed Bath & Beyond and with other brands in its family.
A cardholder can earn 100 points per dollar in the first year while still a Welcome Rewards+ Member and thus might earn 50,000 points in the first year. In every year thereafter if a cardholder cancels the automatically-recurring payment of $29 for membership, the cardholder will only earn 30,000 points on this $500 spent.
From gas purchases made with the card, a cardholder could earn 57,000 points. If the remaining $28,722 of annual credit card expenses are made using the card, cardholders earn an additional 287,220 points. In the first year or while a Welcome Rewards+ Member, this totals 394,220 points. This would convert to $390 in MyRewards. For those not Welcome Rewards+ Members, the same spend in a year would total 374,220, which converts to $370.
Interest Rates
Fees
The Citi Custom Cash℠ Card earns 5% cash back on purchases in a top eligible spend category each billing cycle, up to the first $500 in spending each month and 1% cash back on all other purchases. Of its select bonus categories, home improvement stores are included but not home furnishings stores. If you don’t shop often at Bed Bath & Beyond or its affiliate brands and the type of products you’re interested in can also be found at your local home improvement store, you may be better off with a card such as the Citi Custom Cash. Though it doesn’t additionally reward gas, its flexibility in rewards options and other perks make it an overall better card for most.
The Citi Custom Cash also offers a 0% introductory APR on eligible balance transfers and purchases for 15 months. After that, the variable APR will be 17.74% – 27.74%, based on creditworthiness. There is also a balance transfer fee of 5% of each balance transfer; $5 minimum and a welcome bonus: $200 in cash back after spending $1,500 on purchases in the first 6 months of account opening. The bonus points come in the form of 20,000 ThankYou® Points that can be redeemed for $200 cash back. This card may also pair well with those who enjoy making a house a home.
A no-annual-fee flat-rate cash-back card worthy of its spot on our list of the best cash back cards, the Wells Fargo Active Cash® Card earns 2% cash rewards on purchases. This high-reward-potential card rewards cardholders with real money and not MyReward dollars, so its flexibility alone makes it a better all-around fit for most.
The Active Cash could also work well as a companion card to a card such as the Bed Bath & Beyond Mastercard—these cards are not mutually exclusive. The Active Cash does provide a cell phone insurance benefit and offers a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 18.74%, 23.74%, or 28.74% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies. There’s a sweet welcome bonus too: $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months.
Home furnishing fiends may also find excellent rewards with the Key Rewards Visa*, a top-contender on our list of the best store cards. This multi-brand card offers rewards on purchases made in-store or online with Pottery Barn, Pottery Barn Teen, Pottery Barn Kids, Williams Sonoma, Williams Sonoma Home, West Elm or Mark & Graham. The card earns 5% back online and in stores across seven Williams Sonoma brands, 4% back at grocery stores and restaurants (excludes fast food) and 1% back on everything else.
A choice between the Welcome Rewards™ Mastercard®* and the Key Rewards Visa probably comes down to which brand you prefer to shop with. Neither card will be particularly useful to someone who doesn’t shop at the card’s affiliated brands, so that’s likely to be the determining factor. Though we’re a bigger fan of the Key Rewards for its wider versatility, it won’t do you much good if the only store near you is Bed Bath & Beyond.
The Bed Bath & Beyond Welcome Rewards™ Mastercard®* certainly won’t be for everyone, but for those who love nesting and shop regularly at one or more of the card’s co-branded stores, it may be rewarding. If you do want this card, we suggest using this card on purchases made with Bed Bath & Beyond and using another card for purchases at other stores.
Chauncey grew up on a farm in rural northern California. At 18 he ran away and saw the world with a backpack and a credit card, discovering that the true value of any point or mile is the experience it facilitates. He remains most at home on a tractor, but has learned that opportunity is where he finds it and discomfort is more interesting than complacency.

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