The Rooms to Go Credit score Card is supposed for financing purchases at Rooms to Go, a furnishings retailer with areas in 10 states within the South. With the cardboard, you possibly can pay down purchases interest-free for a set time frame, and Rooms to Go gives a number of compensation time frames.
As with different retailer playing cards designed for financing, the Rooms to Go Credit score Card, issued by Synchrony Financial institution, can be utilized in-store solely and isn’t meant for different purchases.
Listed below are 5 issues to know concerning the Rooms to Go Credit score Card.
1. The cardboard’s sole objective is financing
The Rooms to Go Credit score Card doesn’t earn rewards, however it does can help you repay your buy in month-to-month installments over a predetermined variety of months with out curiosity prices. Exterior of any no-interest promotions, the Rooms to Go Credit score Card prices an APR of practically 30% as of this writing.
Presently, you’ve three choices for interest-free financing with this card:
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55 months for purchases of $975 or extra.
2. Prequalify with out affecting your credit score scores
Making use of for a brand new bank card can quickly decrease your credit score scores, however some playing cards, together with the Rooms to Go Credit score Card, will prequalify you with out this consequence. If after that time the cardboard issuer determines that you just’re certainly eligible for the cardboard and also you proceed with the appliance, then you definately’ll be topic to a tough credit score pull and your credit score scores could also be affected.
3. It will possibly’t be used for a down cost
For the 55- and 36-month financing choices, you need to make a down cost equal to gross sales tax and supply charges. Nevertheless, chances are you’ll not use the Rooms to Go Credit score Card to cowl the down cost.
(The 24-month financing choice doesn’t require a down cost.)
4. You’re required to make equal month-to-month funds
The no-interest promotions on the Rooms to Go Credit score Card are completely different from the same old deferred-interest plans different retailer playing cards supply. With these, you’re charged 0% APR for a set time-frame, and for those who don’t repay your whole stability by the tip, you’ll owe curiosity on the whole quantity you initially borrowed.
Rooms to Go’s financing plans break up your funds into equal month-to-month funds by dividing the whole value by the variety of months within the promotional interval. Funds are rounded as much as the closest entire greenback, in order you get nearer to paying your stability down completely, what you owe every month may very well get decrease because the rounding basically made you “overpay” earlier on.
5. Different pay-over-time choices can be found
Along with financing a purchase order with the Rooms to Go Credit score Card, you possibly can pay over time with Klarna and Affirm, two “purchase now, pay later” providers that can help you break up your buy into 4 interest-free funds.