topic Re: Best card for furniture? in Credit Cards

Best card for furniture?

phoenix12 — Mon, 21 Mar 2022 23:34:10 GMT

Hey, everyone!

So, I am moving into a new apartment soon, and I wanted to get some new furniture and wanted to try to take advantage of a 0% APR card. I'm looking at around $5000 in spending, and I am not sure which cards I should be looking at in order to get a limit around that.

I currently have around a 700 from EX, EQ, and TU. I have: Discover $4000, Apple Card GS $3750, Amex $2000, Cap 1 (two cards combined) $1200, FNBO $7500, and Wells Fargo $5000. None have introductory rates (or are expiring soon) so I was hoping I could add another 0% to the group. I haven't had any luck with Citi, their pre-qual came back as no. Any other options you guys might recommend applying to or doing a pre-qual for (preferably if I can see the limit like FNBO).

Thanks!

Re: Best card for furniture?

Hoben02 — Tue, 22 Mar 2022 00:13:15 GMT

The bofa customize cash has a home furnishing category base is 3%

Re: Best card for furniture?

moto4man — Tue, 22 Mar 2022 03:36:00 GMT

@phoenix12 wrote:
Hey, everyone!

So, I am moving into a new apartment soon, and I wanted to get some new furniture and wanted to try to take advantage of a 0% APR card. I'm looking at around $5000 in spending, and I am not sure which cards I should be looking at in order to get a limit around that.

I currently have around a 700 from EX, EQ, and TU. I have: Discover $4000, Apple Card GS $3750, Amex $2000, Cap 1 (two cards combined) $1200, FNBO $7500, and Wells Fargo $5000. None have introductory rates (or are expiring soon) so I was hoping I could add another 0% to the group. I haven't had any luck with Citi, their pre-qual came back as no. Any other options you guys might recommend applying to or doing a pre-qual for (preferably if I can see the limit like FNBO).

Thanks!

I hope that's a small apartment! We just went furniture shopping... Or more directly couch/love seat - Sectional shopping. If you're looking for minimal stuff and somewhat generic, you MIGHT be alright. But my thoughts are your budget number is kinda low. Be advised, most of the nicer looking stuff is several months out for SCHEDULED delivery. Good luck!

As an aside, here's a link for Bob's DIscount if you have one near you. It's a soft pull and they'll let you know how much you're approved for. They do have several financing options but their main lender is Wells Fargo.
https://www.mybobs.com/financing-options

Re: Best card for furniture?

phoenix12 — Tue, 22 Mar 2022 01:16:55 GMT

It's a 1 bed 1 bath midrise apartment! I've looked on Rooms 2 Go and made sure everything was available. The total came to around $5500 with tax.

I'll look into the link you sent, thanks!

Re: Best card for furniture?

chiefone4u — Tue, 22 Mar 2022 01:36:10 GMT

@phoenix12 wrote:
It's a 1 bed 1 bath midrise apartment! I've looked on Rooms 2 Go and made sure everything was available. The total came to around $5500 with tax.

I'll look into the link you sent, thanks!

Have you looked into their (Rooms2Go) financing? According to their website they are offering 0% for 66 months when you spend $599.99 or more. The card is issued by Synchrony.

If you are after no interest for an extended period of time, this might be your best option (does require down payment equal to tax and delivery fee's).

Re: Best card for furniture?

increasingmyfico — Tue, 22 Mar 2022 03:42:51 GMT

Max cash preferred 5% back at furniture stores for cash back.... Truist has a 0% card

Re: Best card for furniture?

Anonymous — Tue, 22 Mar 2022 13:48:57 GMT

Looking at title, and thinking (unhelpfully as ever) "Well, you would certainly need metal cards, and quite a lot of them, to make anything of a decent size".

Re: Best card for furniture?

MrDisco99 — Thu, 24 Mar 2022 15:50:33 GMT

@increasingmyfico wrote:
Max cash preferred 5% back at furniture stores for cash back.... Truist has a 0% card

Caveat: Max Cash Preferred is only good for up to $3000 bonus category spend per quarter.

Also Bank of America Customized Cash is only good for up to $2500 bonus category spend per quarter

Re: Best card for furniture?

CYBERSAM — Thu, 24 Mar 2022 16:38:52 GMT

@phoenix12 wrote:
Hey, everyone!

So, I am moving into a new apartment soon, and I wanted to get some new furniture and wanted to try to take advantage of a 0% APR card. I'm looking at around $5000 in spending, and I am not sure which cards I should be looking at in order to get a limit around that.

I currently have around a 700 from EX, EQ, and TU. I have: Discover $4000, Apple Card GS $3750, Amex $2000, Cap 1 (two cards combined) $1200, FNBO $7500, and Wells Fargo $5000. None have introductory rates (or are expiring soon) so I was hoping I could add another 0% to the group. I haven't had any luck with Citi, their pre-qual came back as no. Any other options you guys might recommend applying to or doing a pre-qual for (preferably if I can see the limit like FNBO).

Thanks!

You may also want to try furniture stores near you that offer store cards! Most of the time they can offer discounts or long term financing much better then normal credit cards! Many of these stores use Sync Bank and they can offer 0% up to five years! Sync bank can approve around 650 score most of the time!

Re: Best card for furniture?

SoCalGardener — Thu, 24 Mar 2022 17:26:40 GMT

@MrDisco99 wrote:
Also Bank of America Customized Cash is only good for up to $2500 bonus category spend per quarter

Yes indeed. I found that out the hard way. I've used my BofA CCR card almost exclusively for BTs in the past, but recently used it for purchasing home improvement products. I was jumping up and down for joy at the 3% + my 'relationship' bonus CB on each purchase....until it changed to 1%. WHAT? WHY? Then I read the fine print...

Re: Best card for furniture?

Jordan23ww — Sun, 27 Mar 2022 05:44:44 GMT

The US Bank Cash plus has Furniture Stores listed as one of their 5% categories. FYI they only do 5% on $1500 per quarter. The rest would be at 1%. The card comes with 0% APR for 15 months. I recently was approved Dec 2021 with a starting limit of $8500. Best wishes to you if you decide to apply!

Re: Best card for furniture?

FormerCollegeDJ — Thu, 24 Mar 2022 18:32:16 GMT

Normally I'm not a fan of chasing sign-up bonuses unless you have a long term use for a card, but in this case I would look and see if there are any cards, including cards with relatively small annual fees (i.e. <$100), that offer large sign-up bonuses (i.e. considerably over $200, which is often the maximum SUB a no annual fee, introductory 0% APR, possible rewards on furniture credit card will offer) and an extended 0% APR period that you could fit into your regular spending.

I would also do some relatively detailed calculations on the rewards potential extended period, 0% APR cards would offer. As an example, someone else mentioned you can select furniture stores as a 5% rewards category on the U.S. Bank Cash+ Visa. That card has a $2000 quarterly limit on 5% rewards for the selected categories, so you'd receive 1% rewards for any spending in a quarter over that amount. Using your $5500 furniture spending estimate, here are some quick calculations:

$200 sign up bonus + 5% rewards on $2000 spend ($100) + 1% rewards on spend over $2000 ($3500 at 1% = $35) = $335 ($200 + $100 + $35)

Keeping that number in mind, compare that to other cards that 1) offer flat rate rewards plus an extended, introductory 0% APR and a SUB and 2) require an annual fee but have large sign-up bonus and provide an extended, introductory 0% APR. With the former, the Wells Fargo Active Cash Visa would be an option. Now do the same calculations on that card:

$200 sign up bonus + 2% rewards on $5500 spend ($110) = $310

Even with the 5% rewards spending limit restriction, the U.S. Bank Cash+ Visa would beat the Wells Fargo Active Cash Visa in this particular example.

You would do the same thing with other candidate cards that meet your key criteria, which in this case is primarily (I'm guessing) the extended period 0% APR on spending.

All of the above assumes you'd be approved for a card that has a sufficient spending limit to cover $5500 in furniture spending.

Re: Best card for furniture?

MrDisco99 — Thu, 24 Mar 2022 19:46:21 GMT

@FormerCollegeDJ wrote:
Normally I'm not a fan of chasing sign-up bonuses unless you have a long term use for a card, but in this case I would look and see if there are any cards, including cards with relatively small annual fees (i.e. <$100), that offer large sign-up bonuses (i.e. considerably over $200, which is often the maximum SUB a no annual fee, introductory 0% APR, possible rewards on furniture credit card will offer) and an extended 0% APR period that you could fit into your regular spending.

I would also do some relatively detailed calculations on the rewards potential extended period, 0% APR cards would offer. As an example, someone else mentioned you can select furniture stores as a 5% rewards category on the U.S. Bank Cash+ Visa. That card has a $2000 quarterly limit on 5% rewards for the selected categories, so you'd receive 1% rewards for any spending in a quarter over that amount. Using your $5500 furniture spending estimate, here are some quick calculations:

$200 sign up bonus + 5% rewards on $2000 spend ($100) + 1% rewards on spend over $2000 ($3500 at 1% = $35) = $335 ($200 + $100 + $35)

Keeping that number in mind, compare that to other cards that 1) offer flat rate rewards plus an extended, introductory 0% APR and a SUB and 2) require an annual fee but have large sign-up bonus and provide an extended, introductory 0% APR. With the former, the Wells Fargo Active Cash Visa would be an option. Now do the same calculations on that card:

$200 sign up bonus + 2% rewards on $5500 spend ($110) = $310

Even with the 5% rewards spending limit restriction, the U.S. Bank Cash+ Visa would beat the Wells Fargo Active Cash Visa in this particular example.

You would do the same thing with other candidate cards that meet your key criteria, which in this case is primarily (I'm guessing) the extended period 0% APR on spending.

All of the above assumes you'd be approved for a card that has a sufficient spending limit to cover $5500 in furniture spending.

This.

I just signed up for the Chase Ink Cash because I'm about to have to buy new couches. I'll easily meet the $7500 spend requirement and get 75K UR points in return ($750 cash back or 75K transferrable points once I get the Sapphire). I think that's a pretty good use of two inquiries. Plus it's 0% for 12 months and it doesn't report to my personal credit so I can take my time paying it down.

Re: Best card for furniture?

Gollum — Fri, 25 Mar 2022 08:49:55 GMT

@phoenix12 wrote:
Hey, everyone!

So, I am moving into a new apartment soon, and I wanted to get some new furniture and wanted to try to take advantage of a 0% APR card. I'm looking at around $5000 in spending, and I am not sure which cards I should be looking at in order to get a limit around that.

I currently have around a 700 from EX, EQ, and TU. I have: Discover $4000, Apple Card GS $3750, Amex $2000, Cap 1 (two cards combined) $1200, FNBO $7500, and Wells Fargo $5000. None have introductory rates (or are expiring soon) so I was hoping I could add another 0% to the group. I haven't had any luck with Citi, their pre-qual came back as no. Any other options you guys might recommend applying to or doing a pre-qual for (preferably if I can see the limit like FNBO).

Thanks!

Inflation is at a 40 year high, and interest rates are going up, so I recommend not running up a balance on a variable interest rate credit card for new furniture.

Re: Best card for furniture?

Citylights18 — Fri, 25 Mar 2022 08:54:11 GMT

What about the Amazon card and its 5% discounts?

They may not have the very best prices though and those come first.

Re: Best card for furniture?

FireMedic1 — Fri, 25 Mar 2022 08:58:50 GMT

If you cant get a card. You dont want a consumer finance loan on your file. Furniture loans are known for this. It will hurt as long as its on your report even after its closed.

Re: Best card for furniture?

AceTen — Fri, 25 Mar 2022 10:04:27 GMT

@MrDisco99 wrote:
@FormerCollegeDJ wrote:
Normally I'm not a fan of chasing sign-up bonuses unless you have a long term use for a card, but in this case I would look and see if there are any cards, including cards with relatively small annual fees (i.e. <$100), that offer large sign-up bonuses (i.e. considerably over $200, which is often the maximum SUB a no annual fee, introductory 0% APR, possible rewards on furniture credit card will offer) and an extended 0% APR period that you could fit into your regular spending.

I would also do some relatively detailed calculations on the rewards potential extended period, 0% APR cards would offer. As an example, someone else mentioned you can select furniture stores as a 5% rewards category on the U.S. Bank Cash+ Visa. That card has a $2000 quarterly limit on 5% rewards for the selected categories, so you'd receive 1% rewards for any spending in a quarter over that amount. Using your $5500 furniture spending estimate, here are some quick calculations:

$200 sign up bonus + 5% rewards on $2000 spend ($100) + 1% rewards on spend over $2000 ($3500 at 1% = $35) = $335 ($200 + $100 + $35)

Keeping that number in mind, compare that to other cards that 1) offer flat rate rewards plus an extended, introductory 0% APR and a SUB and 2) require an annual fee but have large sign-up bonus and provide an extended, introductory 0% APR. With the former, the Wells Fargo Active Cash Visa would be an option. Now do the same calculations on that card:

$200 sign up bonus + 2% rewards on $5500 spend ($110) = $310

Even with the 5% rewards spending limit restriction, the U.S. Bank Cash+ Visa would beat the Wells Fargo Active Cash Visa in this particular example.

You would do the same thing with other candidate cards that meet your key criteria, which in this case is primarily (I'm guessing) the extended period 0% APR on spending.

All of the above assumes you'd be approved for a card that has a sufficient spending limit to cover $5500 in furniture spending.
This.

I just signed up for the Chase Ink Cash because I'm about to have to buy new couches. I'll easily meet the $7500 spend requirement and get 75K UR points in return ($750 cash back or 75K transferrable points once I get the Sapphire). I think that's a pretty good use of two inquiries. Plus it's 0% for 12 months and it doesn't report to my personal credit so I can take my time paying it down.

Thanks for the "high math" @FormerCollegeDJ !

I was going to suggest USBANK Cash plus but someone beat me to it. Anyway, I like to use subs and 0% for big purchases because I feel like all that spend is wasted when I am not meeting sub requirements.

Apologies to OP for the derail...

@MrDisco99 We have similar plans! I just got a new INk for some big purchases as well. But I thought points could not be transferred/combined from the business INK to personal. If they can transfer/combine to CSP and CSR then I am liking my INK SUB a whole lot more now!

Re: Best card for furniture?

moto4man — Fri, 25 Mar 2022 10:47:44 GMT

@FireMedic1 wrote:
If you cant get a card. You dont want a consumer finance loan on your file. Furniture loans are known for this. It will hurt as long as its on your report even after its closed.

That's HUGE! Thanks for the heads up there... Wow, I would have never imagined.

Re: Best card for furniture?

pcmedic2k — Sat, 26 Mar 2022 15:47:13 GMT

Just went through the same in our move to an apartment. We went through Value City Furniture 60months @ 0%