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Restoration Hardware Credit Card Review

Restoration Hardware Credit Card Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Nov 30, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Restoration Hardware is a luxury brand in the home furnishings market, offering everything from general indoor and outdoor furnishings and décor, to luxury baby and teen items. The company specializes in historical design collections, including authentic reproductions and updated classics, and also operates galleries and outlets throughout the country. Most of the items you’ll find at Restoration Hardware come at a high price, but they do offer numerous special financing offers through the RH Members Program and its store card, the RH Credit Card.

The RH Credit Card is similar to a regular credit card by providing cardholders a revolving line of credit for new purchases with no minimum purchase amount. However, since it’s a store card, the RH Credit Card can only be used at Restoration Hardware stores, on their website and at Restoration Hardware Outlets. If you’re looking for a Restoration Hardware specific card, that shouldn’t be much of an issue. Keep in mind that like a general-purpose credit card, you will incur an APR, currently 26.99% variable, on unpaid balances that aren’t part of a special financing offer.

Looking at the special financing offers, you’re able to take advantage of those provided by the RH Members Program or the RH Credit Card. Beware that the RH Members Program has a $100 annual fee, and you may not want to pay that amount just to use a financing offer. Though, the program does offer some noteworthy perks, like 25% savings on all full-priced items, 20% savings on all sale items, early access to clearance events and more that can add up to big discounts. That’s where the RH Credit Card may come in handy. However, don’t get too excited about the financing deals — you can do better with other credit cards.

In this review, we’ll go over the financing offers available to RH program members and RH Credit Card cardholders and provide alternative options for your home furnishing purchases.

Special financing offers*

As mentioned earlier, you can take advantage of special financing offers through the RH Members Program — no RH Credit Card needed.

Here are the RH Members offers:

  • No interest if paid in full within 9 months (U.S. Outlet in-store purchases only)
  • No interest if paid in full within 12 months
  • 99% APR if paid in full in 24 months
  • 99% APR if paid in full in 36 months
  • 99% APR if paid in full in 48 months
  • 99% APR if paid in full in 60 months

These offers are better than those provided by the RH Credit Card since they have lower APRs, but you may not want to deal with the $100 annual fee. In that case, check out the financing offers available to RH Credit Card holders:

  • No interest if paid in full within 9 months (U.S. Outlet in-store purchases only)
  • 99% APR if paid in full in 12 months
  • 99% APR if paid in full in 24 months
  • 99% APR if paid in full in 36 months
  • 99% APR if paid in full in 48 months
  • 99% APR if paid in full in 60 months

For all special financing offers, there’s a minimum $1,000 purchase required. The nice thing about RH financing deals is that there are no deferred interest terms. So, if you are unable to pay off your balance within the special financing period, you won’t be assessed retroactive interest charges. Most store cards typically charge deferred interest if the balance is not paid after the promotional period expires, which can be an unpleasant surprise, but thankfully, the RH Credit Card does not. However, know that any balances that linger will incur the current APR of 26.99% variable — which is quite high. As a result, we strongly encourage you to pay off any balance in full before the special financing period ends.

Alternatives

Home furnishings aren’t cheap, and if you’re looking for a cost-effective way to finance your purchases, choosing the right credit card can help you spread out payments to fit within your budget. Below, we recommend various types of credit cards to consider before you hit the furniture stores.

Cashback card

A cashback card allows you to earn rewards that are redeemable for statement credit — a great way to lower the cost of your bill. Our top pick for a cashback card is the Citi® Double Cash Card – 18 month BT offer which allows you to earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. This is one of the highest rewards rates of any flat-rate card, and you can apply the cash back you earn against your balance.

Credit cards offering an intro 0% APR on purchases

For large purchases that you need to finance over time, you could consider an intro 0% APR credit card. These cards offer interest-free periods anywhere from six to 21 months long. Compared with the RH Credit Card, these cards outmatch the 2.99% to 6.99% promotional APRs with an intro 0% APR and no minimum purchase requirements. That means you won’t have to spend at least $1,000 to qualify for a no- or low-interest APR.

However, unlike the RH Credit Card, intro offers provided by the credit cards listed below begin when you open your card — they’re not available after the stated time period. For example, if you open a card that offers an intro 0% for 15 months, that 15-month period begins when your application is approved. The no-interest period does not restart after you make a purchase. However, there’s a chance you may receive promotional offers at later times.

Here are some of our top picks for cards with intro 0% APR periods for new purchases:

  • Intro APR of 0% for 14 months on purchases and Balance Transfers, then 11.99% - 22.99% Variable.

  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically. *

  • Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically*

Highlights
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
  • Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • Redeem cash back in any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • No annual fee.
  • See Rates & Fees

See additional details for Discover it® Cash Back

More Info

Credit cards offering an intro 0% APR on balance transfers

If you racked up debt on the RH Credit Card and are looking to save money on high-interest payments, a balance transfer can be a good way to avoid further debt. Another situation where a balance transfer may come in handy is if you take advantage of a credit card’s intro 0% APR on new purchases and realize that you’re unable to pay it off in full before the intro period ends. That means any unpaid balances will be hit with the regular purchase APR, but there is a way to avoid interest charges by completing a balance transfer before the intro period ends.

A balance transfer is when you transfer debt from one card to another card, from a different issuer, that offers an intro 0% APR period on balance transfers. This saves you money on interest charges and gives you more time to pay off your debt. Just be aware that most balance transfer cards charge a balance transfer fee of around 3%, but the cost often outweighs the amount you save on interest.

Here are our top picks for balance transfer cards:

Bottom line

The RH Credit Card may seem appealing at first glance with its special financing offers, but a closer looks shows that you may be better off considering other types of cards. You won’t earn any rewards by using the RH Credit Card, and the no interest for 9 months only applies to U.S. Outlet in-store purchases. Plus, there’s the high 26.99% variable APR to consider if you’re not sure you can pay off the balance within the promotional period. One of the alternative cashback or intro 0% APR cards mentioned above would help save you more money and reap more benefits. Plus, a general-purpose card provides the flexibility of being used anywhere — you won’t be limited to making purchases at Restoration Hardware.

The information related to the Chase Freedom® and the Citi Simplicity® Card - No Late Fees Ever have been independently collected by CompareCards and have not been reviewed or provided by the issuer of this card prior to publication.


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