Review: Musician’s Friend Credit Card

Instrument retailer Musician’s Friend offers a credit card via Synchrony Bank designed to help customers stretch out payments — often at a 0% interest rate. But there are dangers, too. Our overview / review of the card is below:

Musician’s Friend knows that musical instruments aren’t cheap, and that you might not have the money to pay all at once. So they offer special financing that allows you to pay off your instrument over time. Namely, you can buy your instruments at a 0% interest rate and you get 6 months to 12 months to pay off the purchase without paying any interest.

Now, before you get too excited, there is one catch, and we think it’s a big one:

“Interest will be charged to your account from the purchase date if the promotional purchase is not paid in full within 12 months.”

In other words, if you don’t pay off every last cent of your purchase by the end of the 12 months, you will be charged ALL of the interest that would’ve been charged from Day One, as if the 0% offer had never existed! And the interest rate you’ll pay? 29.99%!!!  So you could end up paying a lot of extra cash on that guitar or other instrument if you don’t get it paid off in time.

Now that you know the score, you can apply for Musician’s Friend credit card financing via this online application.