Review: Arhaus Credit Card

arhaus-credit-card225Arhaus Furniture, in partnership with Comenity Bank, offers a credit card that can lead to Arhaus rewards or special 0% financing. But the promise may be better than the payoff.  Our complete overview / review of the card is below:

The first thing to understand about the Arhaus credit card is that it is only accepted at Arhaus — nowhere else. Is it really worth it to open a new credit line to use at this one furniture chain?

Probably not, unless you are financing a very large purchase — then it could make sense. Here’s why:

Every time you purchase with the Arhaus credit card, you can earn points (1 point per dollar) and/or you can choose special 0% financing on your order.

Let’s break that down a little further, because it can be confusing:

  • When you make purchases under $399 with the Arhaus credit card, you qualify for points but not special financing.
  • When make purchases of at least $399 but less than $2500, you get 0% financing for 6 months AND you get reward points.
  • If you make a purchase of $2500 or more, you can choose to get 0% financing for 12 months but no rewards. OR, you can choose the 0% financing for 6 months and still get the rewards.

About Those Rewards

Now, if you’re making a big purchase and pondering those rewards, you should know that there are significant limitations. While you do earn rewards on your purchases as described above, you can’t actually redeem those reward points for anything until you’ve accrued 1500 points (meaning you’ve spent $1500 at Arhaus in most cases). At that point, you get a $100 rewards certificate that you can use toward a future Arhaus purchases.

BUT… that rewards certificate is only good for three months after it’s issued. AND… any points you’ve accrued expire 12 months after they are issued. So, unless you are spending a lot of money at Arhaus in a short period of time and you intend to spend more at Arhaus in the very near future, the whole points program could end being a big zero, because your points could expire before you ever have enough to get a rewards certificate, or you don’t really want to buy anything at Arhaus once you’ve received one because you’ve only got a 90-day window to make a purchase.

About That 0% Financing

Arhaus offers what is often called “deferred financing.” What that means: When you are offered a 0% interest rate to finance your purchases for 6 or 12 months, it comes with the following stipulation:

“Interest will be charged to your account at the standard variable purchase APR of 29.99% from the purchase date if the purchase balance is not paid in full within 6 or 12 months or if you make a late payment.”

So… if you don’t pay off every penny of your purchase by the end of the 6-month or 12-month 0% financing period, you’ll suddenly be charged ALL of the interest that would have accrued from the date you made the purchase — as if the 0% offer had never existed! And, again, it’s at that terrible 29.99% interest rate. Be careful with this type of 0% offer! If you’re not sure you can pay it off in full and on time, you’re better off not accepting the offer.

Overall, we can’t recommend the Arhaus credit card unless you are making a very large purchase and want to get a quick rewards certificate or you want to use the 0% financing option (and will pay it off in time.) Either way, your best bet is to make that decision at the time of purchase — although there is an online card application if you just can’t wait.