Personal Loans

Rooms to Go Financing: Compare Your Options Before You Buy

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Furnishing a home can be expensive. The best way to buy furniture is to save up for the cost and pay with cash so you don’t run the risk of getting stuck in debt. But if you’ve settled on furniture from Rooms to Go and don’t have money on-hand, you can finance the purchase in-house or through other means.

Keep reading to learn about your Rooms to Go financing options.

How to finance your Rooms to Go purchase

Rooms to Go special financing

Rooms to Go offers a financing option through Synchrony Bank. With this option, you apply for a credit card and receive special financing offers when you make purchases with it at the store. For example, as of September 2019, Rooms to Go is offering zero interest on purchases you make of $499.99 or more when you agree to make equal monthly payments on your card for 50 months.

Promotional deals might only be available for a limited time, and they might differ depending on where you live. You can learn more here.


  • No interest on purchases for a set period of time
  • Relatively easy to qualify for financing


  • Regular purchase APR is high
  • Can only be used at Rooms to Go

Personal loan

If you have time to shop around for a loan, rather than rely on instant financing, you might consider applying for a personal loan. A traditional personal loan is unsecured, meaning you don’t have to use collateral to secure the loan.

Depending on your credit, this type of loan may have lower rates than you’d find on a credit card. Borrowers with credit scores over 720 saw an average APR of 7.27%, according to our study on personal loans. The flipside of this, however, is that subprime borrowers saw an average APR of 85.92%. That means this financing option may be expensive for some borrowers.

If a personal loan may be a good option for you, you’ll want to shop lenders by reviewing their terms. Compare such factors as:

  • APR range
  • Available terms
  • Borrowing limits
  • Eligibility requirements
  • Fees

There are a number of personal loan offers online, ranging from $1,000 to $50,000 or more. In some cases, you might be approved for a higher credit line if you get a personal loan than if you apply for a credit card.


  • Pick your loan terms by shopping lenders
  • Better terms with good credit


  • Poor credit borrowers may not qualify or may only qualify for high rates
  • May not have access to a no-interest deal

Low-interest credit card

Rather than getting a Rooms to Go credit card that can only be used in one place, it can make sense to apply for a low-interest credit card. You can potentially take advantage of a signing bonus (if you get a rewards card) or you might qualify for a 0% APR deal, where you pay no interest on purchases during a promotional period. (Granted, some zero-interest cards charge back interest if you don’t pay off the card before the period ends.)

You’ll need to provide identifying information, as well as provide your income and other details in your credit card application. In some cases, though, you might not be able to make your furniture purchase until the card arrives in the mail and you activate it. Check with your card issuer to see if you can get around this by getting the credit card information ahead of time.

In order to qualify for the best credit card offers, you do need stellar credit. However, if you can get a low-interest credit card, it might be worth it for the versatility.


  • Potential for a signing bonus with rewards cards
  • Can be used at multiple stores, not just Rooms to Go


  • May not qualify for the best credit card deals
  • Potential to pay interest on the purchase from the beginning

Payday alternative loan

You may be familiar with payday loans. They are short-term loans with high APRs. In fact, it’s not uncommon to see an APR of 400% with payday loans. A payday alternative loan (PAL), however, is a cheaper option for bad credit borrowers.

Offered by federal credit unions, PALs allow you to borrow between $200 and $1,000 for up to six months. Rates are also lower than those you’d find on a payday loan, and application fees top out at $20.

However, there is one major sticking point to PALs: You must be a member of the credit union offering PALs for one month before applying. That means you’ll need to plan ahead of time before taking out a PAL.


  • A safer alternative to payday loans
  • Low or no application fee


  • Must be a member of a credit union offering PALs
  • Small loan amounts and short repayment terms

Secured loan

If you want Rooms to Go financing and you have bad credit, you might also consider a secured loan.

With a secured loan, you provide some type of collateral that the lender can repossess if you miss payments. You might be able to get a car title loan based on the value of your car, giving the lender the right to take your car if you miss payments. It’s also possible to use items of high value as collateral, like collectibles or precious metals.

You can also get a secured credit card or use money in a bank account as collateral for your loan. With a secured loan, you might be able to get the financing you want without having good credit. Plus, you often pay a lower interest rate than you would with a payday loan. However, many secured loans have shorter repayment periods than what you would see with unsecured loans.


  • Qualify even with bad credit
  • Receive money fairly quickly


  • You could lose your collateral
  • Less time to repay the loan

The bottom line

For the most part, you’re better off saving up money for a Rooms to Go purchase. When you have the money saved up, you don’t have to worry about your credit score — or paying interest and fees.

However, if you decide you need to borrow to cover the cost of your purchase, it’s important to carefully consider your options. Look for Rooms to Go financing options that are likely to cost you less in the long run. Compare your options and choose the loan that works best for your situation and your budget.


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