Review: Value City Furniture Credit Card

value-city-furniture-credit-cardValue City Furniture, in partnership with Synchrony Bank (formerly GE Capital Retail Bank), offers a credit card you can use to get 0% financing on large purchases — but be careful! Our overview / review of the Value City credit card is below:

The first thing to know about the Value City Furniture credit card is that it can only be used at Value City Furniture or its sister store, American Signature Furniture — nowhere else. This limited acceptance is a strike against the card — opening a new credit line that can only rarely be used can hurt your credit score, especially if your credit history is not great.

However, Value City Furniture does make it enticing. The card offers special financing on large purchases, including, last we looked, 36 months to pay with no interest if your purchase is $999 or more. (You have to make 36 equal monthly payments until the purchase is paid off.)

However, please note: if you don’t completely pay off your balance by the end of those 36 months, you’ll then be charged ALL of the interest that would’ve accrued from the date of purchase — as if the 0% rate had never existed! And the interest rate if that happens? 29.99%!!!! Make sure you are comfortable paying off the debt in time before you leap on this.

It doesn’t make any sense to apply for the Value City Furniture credit card until you’re actually ready to make a purchase and take advantage of the 0% financing. But, if for some reason you just can’t wait, there is an online application for credit here.