Exploring Who Finances Rooms to Go Credit Card

Overview of Who Finances Rooms to Go Credit Card

A Rooms to Go Credit Card is a type of store credit card offered by the furniture retailer Rooms to Go. This credit card allows customers to purchase furniture from the store and pay for it over time, rather than having to pay for the full amount upfront. But who finances these credit cards? In this article, we’ll explore the answer to that question, as well as look at the benefits and drawbacks of having a Rooms to Go Credit Card, explain the different types of credit cards available, examine fees and interest rates associated with the credit cards, compare different financing options, and analyze popular reviews of the credit card.

Definition of Rooms to Go Credit Card

The Rooms to Go Credit Card is issued by Synchrony Bank and is available for use exclusively at Rooms to Go stores, as well as online. The card can be used to purchase furniture and other home decor items, as well as finance purchases over time. Customers can choose from several different financing plans, including no interest if the balance is paid in full within six months, deferred interest plans with no payments due for up to three years, and extended payment plans with low monthly payments.

Who Finances Rooms to Go Credit Card

The Rooms to Go Credit Card is financed by Synchrony Bank, which is one of the largest consumer financial services companies in the United States. Synchrony Bank offers a range of products and services, including credit cards, savings accounts, and loans. The bank is FDIC-insured and has more than 80 million active accounts.

Benefits and Drawbacks of Having a Rooms to Go Credit Card

Benefits of Having a Rooms to Go Credit Card

There are several benefits to having a Rooms to Go Credit Card. For starters, customers can take advantage of special offers and discounts on select items. They can also take advantage of promotional financing options, such as no interest if the balance is paid in full within six months, or deferred interest plans with no payments due for up to three years. Additionally, customers can earn rewards points for every dollar spent, which can be redeemed for discounts and other rewards.

Drawbacks of Having a Rooms to Go Credit Card

While there are several advantages to having a Rooms to Go Credit Card, there are also some drawbacks to consider. For example, the card has a relatively high APR (annual percentage rate), which means that customers could end up paying more in interest over time. Additionally, customers may not be able to take advantage of promotional financing options if they don’t meet the required credit score. Finally, customers may have difficulty obtaining a credit limit increase, as the card has a low maximum limit.

Explaining the Different Types of Rooms to Go Credit Cards

Standard Credit Card

The standard Rooms to Go Credit Card is the most common type of credit card offered by the company. This card offers promotional financing options, rewards points for every dollar spent, and access to exclusive discounts and offers. However, customers must have a decent credit score to qualify for the card.

Rewards Credit Card

The Rewards Credit Card is the second type of credit card offered by Rooms to Go. This card offers the same promotional financing and exclusive discounts as the standard card, but it also comes with additional rewards. Customers can earn bonus points for every dollar spent, which can be redeemed for discounts and other rewards.

Secured Credit Card

The Secured Credit Card is the third type of credit card offered by Rooms to Go. This card is designed for customers with lower credit scores who may not qualify for the standard or rewards cards. With this card, customers must make a security deposit, which will be held as collateral against any purchases made with the card. Additionally, customers may be able to improve their credit score by using this card responsibly.

Examining Fees and Interest Rates for Rooms to Go Credit Cards

Fees

The Rooms to Go Credit Card does not charge any annual fee or foreign transaction fee. However, customers are responsible for any late payment fees if they fail to make their payments on time.

Interest Rates

The Rooms to Go Credit Card has a variable APR ranging from 19.99% to 29.99%. This rate applies to both purchases and balance transfers. Additionally, customers may be subject to penalty APRs if they make late payments or go over their credit limit.

Comparing Different Financing Options for Rooms to Go Credit Cards

Traditional Banks

Traditional banks offer a variety of financing options for Rooms to Go Credit Cards. These options include personal loans, home equity loans, and lines of credit. However, customers should note that traditional banks typically require good credit scores and may charge higher interest rates than other lenders.

Online Lenders

Online lenders offer another option for financing Rooms to Go Credit Cards. These lenders typically offer more flexible terms and lower interest rates than traditional banks. Additionally, they often have faster approval times and more lenient credit requirements. However, customers should be sure to shop around and compare different online lenders before applying.

Credit Unions

Credit unions are another option for financing Rooms to Go Credit Cards. These institutions often offer lower interest rates and more flexible terms than traditional banks and online lenders. Additionally, credit unions typically have more lenient credit requirements and may even offer additional perks such as cash back rewards or balance transfers.

Exploring Customer Service and Support for Rooms to Go Credit Cards

Customer Service

Rooms to Go offers 24/7 customer service for its credit card holders. Customers can contact the customer service team via phone, email, or live chat. Additionally, the company provides an online portal where customers can manage their accounts, view statements, and make payments.

Online Support

In addition to the customer service team, Rooms to Go also provides online support. The company’s website has an FAQ section with answers to common questions about the credit card, as well as information about how to apply, manage payments, and dispute charges. Additionally, customers can reach out to the customer service team via social media.

Analyzing Popular Reviews of Rooms to Go Credit Cards

Overview of Popular Reviews

Overall, customers seem to be pleased with their experience using the Rooms to Go Credit Card. According to a survey conducted by J.D. Power, customers rated the card 4 out of 5 stars for overall satisfaction. Furthermore, many customers noted that the card was easy to use and had great customer service.

Pros and Cons

Customers have noted several pros and cons of the Rooms to Go Credit Card. On the plus side, customers appreciated the promotional financing options, rewards program, and customer service. On the downside, customers noted that the card has a high APR and low credit limit.

Summary of Reviews

Overall, customers seem to be satisfied with their experience using the Rooms to Go Credit Card. Customers praised the card’s promotional financing options, rewards program, and customer service. However, customers noted that the card has a high APR and low credit limit.

Conclusion

In conclusion, the Rooms to Go Credit Card is a great option for customers looking to purchase furniture and home decor items. The card is financed by Synchrony Bank and offers several benefits, such as promotional financing options, rewards points, and exclusive discounts. Additionally, customers can choose from several different financing options, including traditional banks, online lenders, and credit unions. Finally, customers have generally been pleased with their experience using the card, citing its promotional financing options, rewards program, and customer service.