Overstock has teamed up with Citi Retail Services to offer customers digital-first benefits and rewards through a co-branded Mastercard.
Cardholders get complimentary membership to the Overstock rewards program, Club O, a $19.95 a year value, the company noted. They earn 5% back in Club O rewards on Overstock.com, 3% back in Club O rewards on apparel and department store purchases, 2% back in Club O rewards on gas purchases and 1% back in Club O rewards on all other qualifying purchases. Club O membership includes access to extra rewards, free returns, a price match guarantee and double rewards for reviews. The card has no annual fee and comes with special financing for up to 60 months on qualifying purchases. The card initiative comes after Overstock shifted its business focus to become a home merchandise seller exclusively.
“As a customer-focused online retailer, we’re always exploring new ways to better provide smart value,” said Jonathan Johnson, CEO of Overstock, in announcing the credit card launch, “This partnership with Citi Retail Services advances our vision of ‘Making Dream Homes Come True’ by delivering extra savings through special finance offerings, Club O rewards on all purchases, and an easy and enjoyable shopping experience. This credit card rewards Club O members – our most loyal customers – with exciting new benefits that we expect will encourage even greater loyalty to Overstock.”
