Review: LensCrafters Credit Card

lenscrafters-logoLensCrafters offers a credit card that lets you defer funds for six or 12 months in your purchases. However watch the advantageous print! Our full overview / evaluation of the Lenscrafters bank card is under:

The very first thing to know in regards to the LensCrafters bank card is that it may solely be used at LensCrafters, nowhere else. This can be a strike in opposition to it; opening up a brand new credit score line for a single retailer you don’t go to typically can damage your credit score rating, particularly in case your previous credit score historical past isn’t so good.

We perceive that the attract of the LensCrafters bank card is the 0% financing supply. And, sure, it sounds good to place off paying to your glasses buy for six or 12 months. Nevertheless, the LensCrafters bank card pulls an outdated bank card trick that it is advisable to be very cautious of. Take a look at this assertion:

“Curiosity might be charged to your account from the acquisition date if the promotional buy just isn’t paid in full inside 6 or 12 months.”

In case you didn’t perceive that, it means you need to repay your full buy inside the promotional interval or you may be charged curiosity going again to the very day you made the acquisition, as if the 0% supply had by no means existed! So, whereas you might have pushed your funds off into the longer term, the curiosity expenses could have accrued (at a mind-boggling 29.99% rate of interest) throughout the entire 6-month or 12-month interval and your debt could have grown considerably.

So, if you wish to repay your LensCrafters buy a little bit at a time as an alternative of unexpectedly, it’s advantageous to get the LensCrafters bank card. However remember to COMPLETELY repay your purchases BEFORE the promotional interval runs out.

The LensCrafters bank card is issued by Synchrony Financial institution. There’s actually no cause to use for the cardboard till you really make a LensCrafters buy, however in the event you can’t wait, there may be an online application here. (If you have already got this bank card, you’ll discover LensCrafters credit card login and payment information here.)