Havertys credit card: how to lower your APR & payment amount

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Havertys credit card: how to lower your APR & payment amount

Postby tilao » Mon May 20, 2013 4:17 pm

About a year and a half ago I opened up a credit card from Havertys Furniture to financing a purchase of roughly $4200. When I did so I was expecting to be able to pay it off sooner but our income has been less than expected. The rate on the card is 29.99%. The plan was a fixed payments for 36 months with 0% interest.

  • Does that mean the same as deferred interest or is it true 0%?
  • Do you know if you can negotiate a lower interest rate? Would I talk to Havertys or GE Capital to do that?

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Postby BoyRod1 » Tue May 21, 2013 4:57 pm

Not sure about Havertys card but we had bought a bedroom and living room set a few years ago from a different store and they advertised it as no interest. Then come to find out the interest charges showed up after the fact. They said it was because we didn't pay it off soon enough and that was why we got charged the interest retroactive. Not sure if this furniture store does it the same way.

As far as negotiating with GE Capital you won't get anywhere. I have tried with those guys and they are adamant on the APR they set.

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Postby DavidNY » Tue May 21, 2013 5:50 pm

A month or two prior to the end of the promo term you can get a no-BT fee Chase Slate and/or Citi Simplicity card and move your balance there.

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Postby CCG » Wed May 22, 2013 1:44 pm

I am unfamiliar with exactly how the Havertys credit card works, but almost every furniture store will charge upwards of 25-30% interest. With major cards you often have some leeway in negotiating a lower rate, but I would be very surprised to see a store like this budge.

If you are currently paying them interest or are unsure if you will be able to pay it off in full before the no interest period ends, then transfer the balance to a 0% offer from a major bank. Here is a sponsored offer I recommend:

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Postby mdl28 » Wed May 22, 2013 1:56 pm

From what I know. All these furniture stores that advertise "interest free" for so many months/years mean is that they will charge you interest up to the end of the said time period. That being said the last payment on that time period of "interest free" will be minus all interest charged in prior months. Howver keep in mind if you fail to make one payment or are late just 1 day you are now on the line for the full interest charged regardless of how quick you end up paying off balance.

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Postby Smart_Shopper » Wed May 22, 2013 5:03 pm

Haverty's fine print is deferred interest - miss or make a late payment or not pay in full during the "interest free" period and all deferred interest is added to your back.

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