Furniture retailer Raymour & Flanigan, in partnership with TD Bank, offers a credit card that lets you finance your large furniture purchases at a 0% interest rate. But check the fine print! Our full overview / review of the Raymour & Flanigan credit card is below:
The first thing to understand about the Raymour & Flanigan credit card is that it is only accepted at Raymour & Flanigan, nowhere else. Here at Credit Card Catalog we generally frown upon cards tied to a single retailer because opening up new credit lines can hurt your credit rating, especially if you have a shaky credit history — and opening up a new credit line that you can’t use widely only increases that problem.
That said, if you are making a big furniture purchase, it is easy to see why you would be tempted. Here are some of the offers you can get with the Raymour & Flanigan card:
- 0% interest for 6 months on purchases of $600 or more.
- 0% interest for 12 months on purchases of $1200 or more.
- 0% interest for 24 months on purchases of $2400 or more.
- 0% interest for 36 months on purchases of $3600 or more.
- 0% interest for 60 months on purchases of $6000 or more.
- 0% interest for 72 months on purchases of $7200 or more.
For those purchases of $2400 or more, you pay off the purchase in equal installments for each month of the agreement. However, for purchases under $2400, you need to be aware that the terms are a bit different: you must pay off every penny of the purchase within the 6-month or 12-month promotional period or you will be charged interest backdated to the date of purchase — as if the 0% offer had never existed!
And the interest rate you’d pay if that happened? 28.99!! So you need to be very careful with these offers!
That said, if you want to apply for the Raymour & Flanigan credit card, you can do so via this online application.