To help your home look comfortable and relaxing, Rooms cover various payment methods to reach your needs. They have taken into consideration the fact that not everyone can afford to pay off their furniture at once if they are not shopping with a retailer and the payment options they offer are:
Rooms to Go financing offers Personal loansLow-interest credit cards Payday alternative loans and Secured loans. Rooms to Go Financing Offers
Overview
Furniture has become one of the necessities for living a comfortable and relaxing life. The service of a financing option is offered by Rooms to Go through Synchrony Bank. Synchrony Bank is a top-tier customer financial services company offering personalized financing schemes covering industries like health, retail, travel, and home.
Synchrony Bank’s customer finance firm is the largest supplier of personal identification cards in the U.S. that incorporates three sales platforms: Retail Cards, CareCredit, and Payment Solution. This service at Rooms to Go allows you to request a credit card and obtain financing offers each time you shop with it at the store. In addition, as of October 2021, Rooms to Go provided zero to no interest on items bought from the store when you accept to exercise uniform monthly payment on your acquired card for 36 months.
But this also requires you to make a down remittance that includes the sales tax and delivery fee if need be. It is essential to know that the Rooms to Go Financing option also includes Affirm, whose services allow you to cover the cost of your items bought over three, six, or 12 months. This means that you stand a chance to qualify for four interest-free payments. Are you concerned about interest in purchases? This option offers you no interest on purchases over a period, and it is comparatively easy to qualify.
What are the Payment options?
1. Personal Loans
Personal loans are generally known to be those that you can use for just about anything and are payable via monthly payment on the terms involved. Still, it is worth noting that this loan goes with no collateral involvement. Rooms to Go gives consumers who do not want to rely on an instance financing the opportunity to apply for a personal loan.
However, this loan’s validation depends on the level of your credit card, which, as stated by Rooms to Go, might have lower rates than you would see on your credit card. This means that borrowers whose credit scores are over 720 experienced an average APR of 10.73%, which is traceable to the September 2021 personal loan statistics of Rooms to Go. But, again, given that borrowers with a credit score below 560 experienced an average APR of 156.11%, this loan can also be expensive for some borrowers.
Rooms to Go encourages customers who find a personal loan appealing to them to review their terms with shop lenders and to consider factors such as:
APR rangeAvailable termsBorrowing limitsEligibility requirements and Fees
2. Low-interest Credit Cards
Rooms to Go is flexible because it gives consumers the advantage of choosing a low-interest credit card that does not restrict the use of the card at Rooms to Go stores only since a Rooms to Go credit card is only used at their stores. In addition, choosing this payment option means that you have the opportunity to claim a signing bonus or the possibility to qualify for a 0% APR deal. This deal entails that you pay zero interest on purchases made during a promotional period.
However, to claim this loan, you will be required to present identifying information, proof of income, and other details in your credit card application. It is vital to note in some situations, and you might not be eligible to purchase your furniture until you get hold of your card and have it activated. Nevertheless, you can consult your card supplier to request the card’s information, if possible, ahead of time.
3. Payday Alternative Loans
A payday loan is a short-term loan provided by federal unions as an alternative to a typical payday loan (which is expensive mainly) at a fair amount to make ends meet in a short period. These loans are generally known to come with a high APR, and most times, there is an APR of 400% with payday loans. A Payday alternative loan, also known as PAL, is a cheaper option for borrowers with no good record.
Payday alternative loan gives you the chance to borrow an amount between $200 and $1,000 for six months, and the rates are remarkably lower than those on a payday loan with an application fee of $20. However, notwithstanding the benefits of an alternative payday loan, it also has many noticeable points, including the necessity to be a member of the credit union offering the alternative payday loan for at least a month before applying for the loan.
4. Secured Loan
A secured loan is a loan that necessitates collateral for you to secure it, and this might range from financial properties that you possess, like a car or home, an example that can be used to pay the lender should you fail to pay back the loan.
Again, you can also get a secured credit card as collateral for your loan. Given the nature of this loan, you can be eligible to get the financing that appeals to you without necessarily having good credits. The advantage of a secured loan is that your interest rate is significantly lower than you will get if you take a payday loan, but the payback period is usually shorter.
Conclusion
After going through the payment options of Rooms to Go, I believe that you will venture into making your home look great by getting the furniture that you need with the help of either of the payment options seen above.
Who do I call if I have a problem?
Hello! You can always contact our customer service whenever you need our support at 1-800-766-6786.
Where can I go for missing parts?
Hi! Please call our customer care line at 1-800-766-6786, and you will be directed to the nearest store.
Can I cancel a Rooms to order?
Yes, you can cancel your order and get a refund within 24 hours after the order cancelation.
Can I get a low-interest credit card?
Yes, provided your identifiable information is valid.
