Review: La-Z-Boy Credit Card

La-Z-Boy Furniture Galleries, in partnership with Synchrony Bank, offers a credit card that allows you to finance your La-Z-Boy purchases, but be careful! Our overview / review of the La-Z-Boy credit card is below:

The La-Z-Boy credit card exists only to finance La-Z-Boy purchases at a La-Z-Boy Furniture Gallery or on La-Z-Boy purchases at other retailers. (It can not be used at the online La-Z-Boy site.) Because of this limited acceptance, it is smart to think long and hard before opening up a credit line just for La-Z-Boy furniture.

You might be thinking: Why would I even want to do such a thing when I could use a different credit card already in my wallet?

Well, it’s very likely that if you are offered a La-Z-Boy credit card in store, there is probably some sort of 0% interest offer attached to it, meaning you might get 6 months, 12 months or even longer to pay off your purchase with no interest. While these offers are enticing, be sure to read the fine print — these offers can be structured in different ways, including what is known as “deferred interest” financing, which requires you to pay the full balance within the promotional period or get socked with all of the interest from the date of purchase, as if the 0% offer had never existed!

In our experience, La-Z-Boy sometimes uses deferred interest financing offers and sometimes uses regular installment loan type offers that require you to make equal monthly payments until the balance is paid off. Make sure you read the fine print to see which you are getting…

Because if you ever have to pay interest on your La-Z-Boy purchase, guess how high your interest rate will be. Nope, you’re guessing too low. The correct answer is 29.99%!!! You do not want to end up paying almost 30% more than your purchase price, so leave this card alone if there’s any chance you can’t get it paid off.

You could apply for the La-Z-Boy credit card via this online application, but don’t! There is no reason to even consider getting this card unless you have a purchase in mind and a store salesperson brings up financing offers. Then you can see if it’s worth the risks.