Introduction
Big Lots is a discount retailer that sells furniture, home decor, clothing, toys, and groceries. The company has over 1,400 stores across the United States, making it one of the largest retailers in the country. Many shoppers are drawn to Big Lots for its low prices and wide selection of products. But does Big Lots offer financing for purchases? In this article, we’ll explore this question and discuss the various financing options available at Big Lots.
Exploring Financing Options at Big Lots
Big Lots offers several different financing options to customers. These include store credit cards, third-party financing, and layaway plans. Let’s take a closer look at each of these financing options.
What Kind of Financing Does Big Lots Offer?
Big Lots offers two types of store credit cards: the Big Lots Credit Card and the Big Lots Rewards Mastercard. The Big Lots Credit Card is a store-only card that can be used to make purchases at Big Lots stores and online. It offers exclusive discounts and promotional offers. The Big Lots Rewards Mastercard can be used anywhere Mastercard is accepted, and it also offers exclusive discounts and promotional offers. Both cards come with no annual fee and have competitive APR rates.
In addition to store credit cards, Big Lots also offers third-party financing through Synchrony Bank. Synchrony Bank offers flexible financing options, such as no interest if paid in full within six months on purchases of $299 or more. There are also special financing options available on select items.
Finally, Big Lots offers a layaway plan for select items. With the layaway plan, customers can pay off their purchase over time with no interest. Customers must make a down payment of at least 10% of the purchase price and pay off the full balance within 60 days.
Understanding the Benefits of Financing at Big Lots
Financing at Big Lots can be a great way to save money on purchases. With the Big Lots credit cards, customers can take advantage of exclusive savings and promotional offers. And with the Synchrony Bank financing option, customers can avoid paying interest on large purchases. The layaway plan is also a great option for those who need to spread out payments over time.
Pros and Cons of Financing with Big Lots
While financing can be a great way to save money at Big Lots, there are also some drawbacks to consider. Let’s take a look at the pros and cons of financing with Big Lots.
Comparing Financing Options at Big Lots
The biggest benefit of financing with Big Lots is the potential to save money. With the Big Lots credit cards, customers can take advantage of exclusive savings and promotional offers. And with the Synchrony Bank financing option, customers can avoid paying interest on large purchases. The layaway plan is also a great option for those who need to spread out payments over time.
However, there are also some drawbacks to consider. For example, the Big Lots credit cards can only be used at Big Lots stores and online. And depending on the item, the Synchrony Bank financing option may require customers to pay an origination fee. Finally, the layaway plan requires customers to make a down payment of at least 10%, and the full balance must be paid off within 60 days.
Maximizing Savings with Financing at Big Lots
To maximize savings when financing with Big Lots, shoppers should take advantage of the exclusive offers and promotions available with the Big Lots credit cards. Additionally, shoppers should compare the terms and conditions of the Synchrony Bank financing option carefully to ensure they are getting the best deal. Finally, shoppers should be aware of the requirements of the layaway plan to ensure they can make all of the required payments.
Conclusion
Big Lots offers several different financing options to customers. These include store credit cards, third-party financing, and layaway plans. Financing at Big Lots can be a great way to save money on purchases, but there are also some drawbacks to consider. To maximize savings when financing with Big Lots, shoppers should take advantage of the exclusive offers and promotions available with the Big Lots credit cards, compare the terms and conditions of the Synchrony Bank financing option carefully, and be aware of the requirements of the layaway plan.
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