Can I use a personal loan to pay off my Ashley Furniture credit card?

Absolutely. Paying off an Ashley Furniture credit card (often managed by Synchrony Bank or another financing company) is one of the most common reasons people seek a furniture refinancing loan. You can request a loan amount that covers your full balance, and once funded, you use that money to pay the card off completely, closing that high-interest account or simply bringing its balance to zero.

Will refinancing my Rooms To Go card hurt my credit score?

There can be a small, temporary dip in your credit score when you apply for and open a new loan due to a hard credit inquiry. However, the long-term effects are often positive. By converting revolving credit card debt into a fixed installment loan, you can lower your credit utilization ratio, which is a major factor in your credit score. Making consistent, on-time payments on the new loan will also help build a positive credit history.

How quickly can I get funds to pay off my Synchrony furniture card?

The process is typically very fast. After you submit your online application and are approved, funds can often be deposited directly into your bank account in as little as one business day. This allows you to quickly pay off your Synchrony-backed store card (like those from Raymour & Flanigan, Ashley Furniture, etc.) and stop accruing high interest.

Is it worth refinancing a small amount of furniture debt, like $2,000?

Yes, it can be. While the total dollar savings won't be as dramatic as with a larger balance, the principles are the same. A 29% APR on a $2,000 balance is still very expensive. Refinancing to a lower rate saves you money and provides a structured payoff plan, which can be a valuable financial discipline. Most lenders have minimum loan amounts around $1,000 to $2,000, making this a viable option.

What happens to my store credit card after I pay it off with a loan?

Once you use the loan funds to pay the card balance to zero, the account remains open. It's generally a good idea to keep the account open with a zero balance, as closing it can reduce your total available credit and potentially lower your credit score. You can simply cut up the card or put it away to avoid the temptation of using it again.

Are there prepayment penalties on a furniture refinancing loan?

The vast majority of personal loans offered through our lender network do not have prepayment penalties. This means you are free to pay off your loan ahead of schedule to save even more on interest without incurring any extra fees. It's always a good practice to confirm this detail in your loan agreement.

Loan to Pay Off High-Interest Furniture Credit Cards

Refinance expensive store credit from places like Ashley Furniture, Rooms To Go, or Raymour & Flanigan with a single, lower-rate personal loan.

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That new living room set or bedroom furniture looked great in the showroom, and the store’s financing offer made it seem affordable. But now, months later, you might be realizing the true cost. High-interest store credit cards, especially after a promotional period ends, can trap you in a cycle of expensive debt that barely shrinks with each minimum payment.

Does This Sound Familiar?

Your 0% promotional APR expired, and the new rate is over 25%.
A personal loan offers a fixed rate for the life of the loan, so you'll never be surprised by a rate hike.
The minimum payment barely covers the interest, so the balance never seems to go down.
Our loans are fully amortizing, meaning every payment reduces your principal balance on a clear schedule.
You're juggling payments for cards from Ashley Furniture, Rooms To Go, and others.
Consolidate multiple high-interest furniture debts into one simple, predictable monthly payment.
You got hit with 'deferred interest' and now owe all the interest from day one.
A personal loan is a straightforward installment loan with no deferred interest traps or hidden fees.

Escape the Store Card Trap with a Furniture Refinancing Loan

A furniture refinancing loan is a smart financial tool designed for this exact situation. It’s an unsecured personal loan that you use for one specific purpose: to pay off the entire balance of one or more high-interest furniture store credit cards. Instead of paying a high, often variable, interest rate to a retail financing company like Synchrony Bank or TD Bank (which back many store cards), you get a new loan with a fixed interest rate and a clear end date. This process is also known as debt consolidation.

The primary benefit is significant interest savings. The average store credit card APR can be upwards of 28-30%, while personal loan rates for qualified borrowers can be much lower. This difference can save you hundreds or even thousands of dollars over the life of the loan and help you become debt-free faster. You also gain the simplicity of a single monthly payment and the stability of a fixed interest rate that won't change.

Example scenario

My promotional period ended on my Rooms To Go card and the interest rate was insane. I felt like I was just throwing money away. Refinancing with a personal loan consolidated everything and my monthly payment is actually paying down the balance now. It's a huge weight off my shoulders.

Marcus T.·Homeowner, Florida

See the Potential Savings: A Real-World Example

Numbers often speak louder than words. Let's look at a common scenario to understand the financial impact of refinancing your furniture debt. Imagine you have a $5,000 balance on a furniture store card after purchasing a new set for your home.

Cost Comparison: Store Card vs. Personal Loan

Store Card Balance @ 29.99% APR (36 mo term)

$5,000 principal

$2,915 in interest

Personal Loan Refinance @ 15% APR (36 mo term)

$5,000 principal

$1,248 in interest

Total Potential Savings

$2,915 - $1,248

$1,667

Estimated monthly

~$46/mo less

Based on a 3-year term. Your actual savings will depend on your credit profile and the terms you qualify for.

In this example, by using a personal loan to pay off the furniture credit card, you could save over $1,600 in interest charges. Your monthly payment would also be lower, freeing up cash for other financial goals. This is the power of moving high-interest debt to a more structured and affordable financial product.

See How Much You Could Save

Check your personalized rate in minutes without affecting your credit score.

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How to Refinance Your Furniture Debt in 4 Steps

The process is designed to be quick and straightforward, getting you from application to funding so you can pay off that expensive card as soon as possible.

Our Simple Refinancing Process

1
Enter Your Loan Amount
Tell us how much you need to pay off your furniture store card(s). Our simple form takes just a few minutes.
2
Compare Your Offers
If you qualify, you'll see loan options from our network of lenders. Compare APRs, terms, and monthly payments.
3
Select a Loan & E-Sign
Choose the offer that works best for your budget. Complete the final paperwork securely online.
4
Receive Funds & Pay Off Debt
Once approved, funds are typically deposited directly into your bank account. Use them to pay off your high-interest cards for good.

Loan amount: $1,000 – $15,000
APR: 7.99% – 35.99%
Term: 24 mo – 60 mo

Loan amounts, terms, and APRs may vary. Your actual rate depends on your credit score, income, loan amount, term, and other factors. Not all applicants will qualify for the lowest rates.

Personal Loan vs. Other Options for Furniture Debt

When you're trying to manage high-interest furniture debt, a personal loan is a strong contender, but it's wise to understand how it stacks up against other common strategies.

Comparing Debt Payoff Strategies

	Personal Loan	Keep Paying Store Card	0% APR Balance Transfer Card
Interest Rate	Fixed, typically 8-35.99%	Very high, often 25-30%+	0% for 12-21 months, then high
Payment Structure	Fixed monthly payment	Variable (minimum only)	Fixed for promo, then variable
Payoff Timeline	Clear end date (2-5 years)	Indefinite if paying minimum	Must pay off during promo
Best For	Simplicity and a clear path out of debt.	Not recommended for long-term debt.	Disciplined borrowers who can pay off the full balance before the promo ends.

Qualifying for a Furniture Refinancing Loan

Lenders look at several factors to determine your eligibility and the rates they can offer. Understanding these criteria can help you prepare your application and set realistic expectations.

What Lenders Typically Look For

Credit Score: A score of 600 or higher is generally needed. Applicants with scores of 660+ often receive more favorable rates.
Verifiable Income: You'll need to show a steady source of income to demonstrate your ability to repay the loan.
Debt-to-Income (DTI) Ratio: Lenders prefer a DTI ratio below 40-45%, which shows that your existing debt payments aren't consuming too much of your income.
Credit History: A history of on-time payments for other credit accounts can significantly strengthen your application.

If your credit score is borderline, ensuring all other aspects of your financial profile are strong (like a low DTI and stable income) can improve your chances of approval.

Find Out What You Qualify For

It takes just a couple of minutes and won't impact your credit score.

See My Options

Frequently Asked Questions About Refinancing Furniture

Can I use a personal loan to pay off my Ashley Furniture credit card?
Absolutely. Paying off an Ashley Furniture credit card (often managed by Synchrony Bank or another financing company) is one of the most common reasons people seek a furniture refinancing loan. You can request a loan amount that covers your full balance, and once funded, you use that money to pay the card off completely, closing that high-interest account or simply bringing its balance to zero.
Will refinancing my Rooms To Go card hurt my credit score?
There can be a small, temporary dip in your credit score when you apply for and open a new loan due to a hard credit inquiry. However, the long-term effects are often positive. By converting revolving credit card debt into a fixed installment loan, you can lower your credit utilization ratio, which is a major factor in your credit score. Making consistent, on-time payments on the new loan will also help build a positive credit history.
How quickly can I get funds to pay off my Synchrony furniture card?
The process is typically very fast. After you submit your online application and are approved, funds can often be deposited directly into your bank account in as little as one business day. This allows you to quickly pay off your Synchrony-backed store card (like those from Raymour & Flanigan, Ashley Furniture, etc.) and stop accruing high interest.
Is it worth refinancing a small amount of furniture debt, like $2,000?
Yes, it can be. While the total dollar savings won't be as dramatic as with a larger balance, the principles are the same. A 29% APR on a $2,000 balance is still very expensive. Refinancing to a lower rate saves you money and provides a structured payoff plan, which can be a valuable financial discipline. Most lenders have minimum loan amounts around $1,000 to $2,000, making this a viable option.
What happens to my store credit card after I pay it off with a loan?
Once you use the loan funds to pay the card balance to zero, the account remains open. It's generally a good idea to keep the account open with a zero balance, as closing it can reduce your total available credit and potentially lower your credit score. You can simply cut up the card or put it away to avoid the temptation of using it again.
Are there prepayment penalties on a furniture refinancing loan?
The vast majority of personal loans offered through our lender network do not have prepayment penalties. This means you are free to pay off your loan ahead of schedule to save even more on interest without incurring any extra fees. It's always a good practice to confirm this detail in your loan agreement.

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Personal loan disclosure

Money Savvy is not a lender. We are a marketing service that connects consumers with participating lenders. Rates, amounts, and terms vary by lender, your credit history, and other factors.

Loan amounts: $1,000 – $100,000
Repayment terms: 3 – 84 months
Min APR: 5.99%
Max APR: 35.99%
Origination fees: 0% – 10% of the loan amount
Late fees: May apply; vary by lender

Representative example: A $10,000 loan with a 36-month term at an 18.99% APR would have an approximate monthly payment of $366.39 and a total cost of $13,190.04, including interest and a $500 origination fee.

Your actual APR depends on your credit score, income, and other factors. Only borrow what you can afford to repay.

California residents: California Financing Law disclosures available upon request.