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The Rooms to Go Credit Card is intended to be used to finance purchases made at the furniture store, which has locations throughout ten Southern states. For a predetermined amount of time, you can pay down purchases with the card interest-free, and Rooms to Go provides multiple payback periods.
The Synchrony Bank Rooms to Go Credit Card is only intended for in-store use and cannot be used for other types of purchases, similar to other store cards intended for financing.
What bank does Rooms To Go use?
Rooms To Go partners with Synchrony Bank to offer furniture financing to its customers through a store credit card. This card provides deferred interest financing on qualifying purchases, making it a convenient option for those who want to spread out the cost of their new furniture.
But is the Rooms To Go credit card the right choice for everyone?
Not necessarily. While it offers some benefits there are also potential drawbacks to consider. To help you decide if it’s the best fit for your needs, let’s dive into the details of Rooms To Go financing and explore some alternative options.
Understanding the Rooms To Go Credit Card
The Rooms To Go credit card comes with a standard purchase annual percentage rate (APR) of 29.99%. It can only be used at Rooms To Go (both in-store and online) and offers special financing options that vary by location and date.
Rooms To Go frequently advertises exclusive financing offers, like three years with no interest. Nevertheless, your location and the season in which you apply will determine the precise offers you see.
Applying for the Rooms To Go Credit Card
If you’re interested in applying for the Rooms To Go credit card, you can do so online. While Rooms To Go doesn’t publish its exact eligibility requirements, the furniture store chain does allow you to prequalify for the card without harming your credit score. This can be a helpful way to determine if you’re a good fit before you commit to the application process.
Pros and Cons of the Rooms To Go Credit Card
Pros:
- Deferred interest financing: This allows you to spread out the cost of your purchase over time without incurring interest charges during the promotional period.
- Prequalification available: You can check your eligibility without impacting your credit score.
- Potentially easier to qualify for than other forms of credit: Store cards generally have less stringent eligibility requirements compared to traditional credit cards.
Cons:
- High APR: The standard APR of 29.99% is significantly higher than the rates offered by many other forms of credit.
- Limited usage: The card can only be used at Rooms To Go.
- Potential for fees: Be aware of any potential fees associated with the card, such as annual fees or late payment fees.
Alternative Financing Options for Rooms To Go Purchases
If you’re unsure if the Rooms To Go credit card is the best option for you, take a look at these other financing options:
1. Personal Loans
Personal loans can be a great option for financing a furniture purchase because they provide you with a lump sum of money that you can repay over a series of fixed monthly payments. Additionally, personal loan interest rates tend to be much lower than the rates for most credit cards.
2. 0% APR Credit Cards
Similar to the Rooms To Go store card, 0% intro APR credit cards allow you to access deferred interest financing for a set period of time. However, the main difference is that these cards allow you to shop anywhere rather than just at one specific store.
3. Buy Now, Pay Later (BNPL) Services
BNPL services like Klarna and Affirm allow you to split your purchase into smaller, interest-free payments. This can be a good option if you want to avoid accruing interest charges but still want to spread out the cost of your purchase.
Choosing the Right Financing Option for You
The best financing option for you will depend on your individual circumstances and financial goals. Consider factors such as your credit score, budget, and the amount of time you need to repay the loan.
Here are some additional tips for choosing the right financing option:
- Compare interest rates and fees: Make sure to compare the interest rates and fees associated with different financing options before making a decision.
- Consider your credit score: If you have good credit, you may be able to qualify for a lower interest rate.
- Create a budget: Determine how much you can afford to pay each month and choose a financing option that fits your budget.
- Read the fine print: Make sure you understand the terms and conditions of any financing agreement before you sign on the dotted line.
By carefully considering your options and choosing the right financing method, you can make your Rooms To Go purchase a smart and affordable investment in your home.
Prequalify without affecting your credit scores
Your credit scores may temporarily drop if you apply for a new credit card, but some cards—like the Rooms to Go Credit Card—will prequalify you without having this effect. Your credit scores may be impacted if the card issuer decides later that you are in fact qualified for the card and you move through with the application. You will be subject to a hard credit pull.
It can’t be used for a down payment
You have to pay the sales tax and delivery fees as a down payment for the 36- and 55-month financing options. However, you may not use the Rooms to Go Credit Card to cover the down payment.
(The 24-month financing option doesn’t require a down payment.)
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FAQ
Is Rooms to Go affiliated with Synchrony Bank?
What credit score do you need for Synchrony Bank?
Can I use my Rooms To Go card anywhere else?
Where can I use my rooms to go credit card?
You cannot use your Rooms To Go Credit Card everywhere, but it can be used at thousands of retailers across the US. You can locate the retailers that accept the card here. Can I use my Rooms To Go Credit Card instantly after approval? Yes, you can use your Rooms To Go Credit Card instantly after approval.
Does rooms to go offer furniture financing?
Rooms To Go partners with Synchrony Bank to offer furniture financing to its consumers through a store credit card. The Rooms To Go credit card provides deferred interest financing on qualifying purchases. *Unless otherwise noted, equal, on-time payments spread over the length of the financing term are required.
Does rooms to go offer credit card financing?
Fortunately, with Rooms To Go financing, you can pay for your large purchase over time. Still, the credit card that this retailer offers may not be the right choice for everyone. In light of that, we’ve also suggested some alternative financing options that can also help you access the funds you need.
Does the rooms to go credit card offer deferred interest financing?
The Rooms To Go credit card provides deferred interest financing on qualifying purchases. *Unless otherwise noted, equal, on-time payments spread over the length of the financing term are required. A down payment and/or other fees may also apply.