Furniture and home decor retailer Ethan Allen, in partnership with Synchrony Bank, offers a credit card that allows you to finance your purchases at a 0% interest rate, at least for a while. See below for our complete overview / review of the Ethan Allen credit card:
The first thing to understand about the Ethan Allen credit card is that it is only accepted at Ethan Allen, nowhere else. This limited acceptance is not a good thing — opening a new credit line can lower your credit score, so you normally want to have your cards accepted at more than a single retail chain.
However, you might want to make an exception here for one important reason: 0% financing. The Ethan Allen Platinum Card will allow you to finance your purchases at 0% interest for varying lengths of times (depending on the current available offers). But be careful! Some of these offers are deferred-interest offers, meaning that you must pay off every penny of the purchase during the specified period, or you will pay ALL of the interest that would’ve accrued since the date of purchase — as if the 0% offer had never existed. And the interest rate you’ll pay? 29.99%!!!!! You need to be sure you understand exactly what an Ethan Allen salesperson is offering before you accept!
While there is an online application for the Ethan Allen credit card, there is no good reason to apply for the card until you are ready to actually make a big purchase. You are sure to be offered the card at the time of purchase, and if you aren’t you can go ahead and ask about it.