There are no ongoing rewards, although you can finance Rooms to Go credit card when it comes to purchases and pay the same monthly payments with no interest, which in itself is a reward.
The Rooms to Go Credit Card is a card for financing Rooms to Go purchases, purchases at one of several states’ worth of stores throughout the South that sell furniture.
With the card, you can finance back purchases interest-free for a certain period, and Rooms to Go has various repayment terms.
Similar to other store cards designed for financing, Synchrony Bank’s Rooms to Go Credit Card is only redeemable in-store and is not intended for other purchases.
What is the Rooms to Go Credit Card?
This is a card that allows you to finance your purchase in monthly installments over a specified number of months without paying interest.
Aside from any offers of no-interest financing, the Rooms to Go Credit Card charges an APR of nearly 35%. There are three ways to secure interest-free financing with this card in its current form:
- 50 months on purchases of $1,475 or more.
- 24 months.
- 17 months.
Those are pretty long interest-free periods that a lot of general-purpose rewards credit cards can’t touch. But if you don’t have so long to wait to pay off a purchase, you might get more value from a general-purpose rewards credit card.
How Does the Cash Back Work Here?
The Wells Fargo Active Cash Card, for example, pays 2% cash back on all qualified purchases. It also features a new cardmember offer: Get a 0% intro APR on purchases for 12 months and a 0% intro APR on balance transfers for 12 months from account opening.
It should be based on qualifying balance transfers, and then the regular APR of 19.24%, 24.24%, or 29.24% variable APR.
The card’s sign-up bonus can also help you pay for a purchase when you can meet its requirements. Get a $200 cash rewards bonus when you spend $500 in the first 3 months on purchases.
Or consider the Chase Freedom Unlimited®. It comes with a 0% intro APR on purchases and balance transfers for 15 months, followed by the regular APR of 18.99%-28.49% variable APR.
You will receive 1.5% cash back on every purchase, including Room to Go. You also receive 5% cash back on travel purchased through the Chase travel portal and 3% cash back on drugstore purchases and dining at restaurants.
It has a sign-up bonus for new account holders as well: Intro Offer: Get a $200 bonus when you spend $500 on purchases within the first 3 months from opening the account.
Does Having This Card Affect Credit Scores?
A new credit card will decrease your credit scores temporarily, but some, like the Rooms to Go Credit Card, will prequalify you with no such effect.
If afterwards the card issuer verifies that indeed you’re eligible to have the card and you proceed with the application, then you’ll experience a hard credit draw and your credit scores will be affected.
For the financing plans, you must pay a down payment equivalent to sales tax and delivery fees. But you cannot use the Rooms to Go Credit Card as payment for the down payment.
What are The Rooms to Go Credit Card Pros?
The Rooms to Go Credit Card’s no-interest promotions stand out from the usual deferred-interest plans other store cards use.
With those, you get 0% APR for a defined period, and if you fail to pay your total amount due by the end, you will be charged interest on the total amount you borrowed originally.
Rooms to Go financing plans split your payments into the same figure each month by figuring out the total cost and dividing it up among the months in the promotion period.
Payments are rounded to the next dollar, so the more you work on paying out your balance in full, the less you’ll actually end up paying every month since the rounding really had you “paying more” when you owed more.
Last Words
Besides making a purchase with the Rooms to Go Credit Card, you can pay over time with Affirm, a “buy now, pay later” opportunity that allows you to split your purchase into four payments with no interest.
As is the case with other store cards used for financing, the Rooms to Go Credit Card, held through Synchrony Bank, can only be used for in-store purchases and is not meant for other purchases.
The majority of credit cards require a minimum score of 670 to approve. Outstanding scores of 720+ have the highest approval opportunities and terms. Look into the specific card requirements; some will approve scores as low as the 500s but with restrictions.
