What you need to know about in-store finance

Thinking about in-store finance? Know what you're getting yourself into first.

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In-store finance options are designed to give you the flexibility to buy what you want, when you want or need it. This type of finance is usually offered directly through the store or company you’re making a purchase with. But there are also some credit cards that may provide you with specific in-store finance options, such as the Gem Visa.

Unlike credit cards that feature 0% interest for a promotional period or interest-free days when you meet payment requirements, these in-store finance agreements are offered at specific stores and can be available for longer periods of time.

Which credit cards offer in-store finance?

There are a select number of credit cards that regularly provide in-store finance options and benefits. These vary depending on the card and the issuer.

For example, Gem Visa offers credit card customers in-store finance offers ranging from 12 to 48 months.

How to compare credit cards based on in-store finance options

As well as looking at the ongoing credit card features, such as interest rates, annual fees and interest-free days, there are specific features you’ll need to consider when you want to take advantage of in-store finance options with your credit card. We’ve outlined some of the key details to compare below.

Participating retailers

If you’re considering a credit card that includes in-store finance options, it’s important to also look at the range of participating retailers. This will allow you to choose a card that offers the most convenience and flexibility for you.

Providers websites may have a search option where you can browse based on category, state or by specific offers.

Interest-free terms

The interest-free options available on these cards also vary depending on what you buy and where you buy it. For example, some may offer “buy now, pay later” deals, others may offer a specific number of months interest-free when you make purchases over a certain amount.

The Gem Visa is unique in offering 6 months interest-free for purchases over $250 everywhere Visa is accepted. You are eligible for this offer as long as you’re making a purchase and not a cash advance on the card. For terms longer than six months, the Gem Visa also offers a “Buy Now, Pay Later” extended interest-free period at participating locations, although to be eligible you will need to get approval first.

In-store finance requirements

It’s also worth noting that most credit cards offering in-store finance will require some additional details from you at the time of the transaction. For starters, you will have to pay with the card that gives you access to these offers. Beyond that you may have to provide identification information, such as a copy of your driver’s license.

Credit cards that offer in-store finance can be a great way to buy what you want and still enjoy some cash flow flexibility. These cards often give you ongoing access to long interest-free periods, but may have strict conditions or limited offers. So make sure you weigh up the features of in-store finance offers and consider a range of other cards to help you decide on the right option for you.

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