Rooms To Go Financing

This article is independently produced by LendingTree, LLC and has no affiliation, sponsorship, endorsement, or association with Rooms To Go. The views and opinions expressed are solely those of LendingTree, LLC and do not reflect the official policy or position of Rooms To Go.

Buying furniture from a large retailer like Rooms To Go can be costly. 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.

Rooms To Go credit card

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. A down payment and/or other fees may also apply.

Rooms To Go occasionally promotes special financing on their credit card, such as no interest for three years, but the offers you see may vary by location and/or time of year that you apply.

If you think you would like to go this route, you can apply for the card 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, which can make it easier to determine if you’re a good fit.

Additionally, as a rule of thumb, store cards tend to be easier to qualify for than other forms of credit, so they could be a good option if you’re unable to access more traditional financing. However, be aware that the interest rates on store cards also trend higher than other financial products (including Rooms To Go’s financing options at 29.99% APR), so you may end up paying more for your purchase.

Rooms To Go financing alternatives

If you’re not sure that the Rooms To Go credit card is the right fit for you, consider choosing one of these common financing methods instead.

Personal loans

Personal loans can be a great choice for financing a furniture purchase because the money is given to you in one lump sum and then you repay that amount over a series of fixed monthly payments. Additionally, personal loan interest rates tend to be much lower than the rates for most credit cards.

Since personal loans are unsecured debts, meaning they don’t require an asset as collateral, you generally need a good credit score and a low debt-to-income ratio to access the best rates. In many cases, bad credit loans are available. However, you’ll likely pay more for the privilege of borrowing.

Typically, it’s also possible to prequalify for a personal loan. That said, if you decide to go through with the application process, you’ll probably be subject to a hard credit check before receiving your approval decision.

0% APR credit cards

Like 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.

If you’re confident that you can pay off your purchase within the promotional interest rate period, opening up a 0% APR card can be a smart way to pay for your purchase over time without incurring any interest charges. Still, if you can’t repay the balance in full by the time your promotional interest rate expires, you may be subject to higher rates than you would find with some other loan products.

However, it’s worth noting that, while credit card interest rates are higher than personal loans, they’re generally lower than the rates for store cards.

Buy now, pay later

Buy Now, Pay Later (BNPL) programs allow you to break payments for purchases up into segments, allowing you more time to pay off your balance in full. In particular, Rooms To Go supports two of the largest BNPL players, Affirm and Klarna. However, there are also plenty of other options to choose from, if you feel like securing your own financing.

The payment structures for BNPL plans can vary depending on which provider you choose. But, they generally fall into one of a few different categories:

• Pay in 4: With this method, your total purchase price is split up into four, equal payments that occur over the course of six weeks. You’ll make a payment every two weeks until the balance is paid in full. Usually, this type of BNPL plan doesn’t come with interest, but be sure to read the fine print just in case.
• Pay in 30: As you might be able to guess, this payment structure allows you to buy an item without paying for it upfront and gives you 30 days to find the money before full repayment is due.
• Monthly installments: Some BNPL programs essentially offer installment loans and allow you to make regular monthly payments toward your outstanding balance.

Saving up and paying in full

Whether you want to avoid another monthly bill or simply want to live a debt-free lifestyle, saving up for the item and paying for it in full when you make your purchase is always an option. While it may take you a little bit longer to buy your furniture with this method, it’s a smart way to keep yourself from accumulating debt that you may not need.