Extras Mastercard - Promotional offers when making large purchases?

[joe2209]

So I don't 100% completely know how credit cards in general work, so here lies my question:

When you make expensive purchases, such as a new sofa or an entire livingroom set, or a 50" HDTV, do you get any kind of promotional offer for that purchase by default?

I'm just curious as to how people pay off these expensive purchases they make. Example:

Sally charges a $2,500 livingroom furnature set to her credit card. Does she just pay the minimum payment each month and let the interest accrue, does she pay off her entire balance by the due date, or is she offered a promotional offer, by default, that enables her to pay off this furnature set over a 12-month period, interest free?

If she doesn't get a promotional offer with her major credit card, where and how do promotional offers come about? Are they only offered by the furnature company that's financing you (assuming you weren't using your major credit card and just taking advantage of their financing options), or does the bank behind your major credit card offer this?

If I'm not making any sense or I just confused you like I did myself, let me know and I'll try to elaborate more.

Thanks!

 - Joe B.

[PayPal_Adrian]

joe2209 -

Welcome to the Community!

Great questions!  I know I had quite a few similar thoughts myself when I received my first credit card.  When speaking of cards in general, there's not a simple answer, as how promotions are fulfilled and created depend upon each card issuer.  Promotions might be something automatically applied, they may require you to opt in, or they might even be deducted off at the point of sale by the merchant themselves.  There are a number of ways you can receive discounts or promotions, so the best bet would be to check in with your card issuer directly and see how they deliver their promotions and benefits to you.

In regards to the PayPal Extras MasterCard, we generally see two types of promotions: sign up promotions (offered at the time of your application) and a specific promotion (which may be applied to select customers or across the entire cardholder group when certain conditions are met).  If you've recently applied, you may have received a notice of any existing promotions you qualified for at that time, and if you are an existing customer, you may be notified if you qualify to participate in an existing or new promotion.

Thanks!

Adrian

[joe2209]

So if I want to buy a livingroom set, I should contact Paypal and see if I can get some kind of promotion for the purchase, or is it only something they would randomly offer me?

I'm moving out of state in a few months and I'm looking to buy new furnature. I don't want to "charge" it onto my PayPal mastercard without a promotional offer because I won't be able to pay it off in a month, and I'm not looking to pay interest. I would take advantage of any financing options the retailer has to offer, but I'd rather not have another hard inquiry on my credit report, especially if I can take advantage of something I ALREADY have (in this case, a Paypal Extras Mastercard) without having to pay interest.

[PayPal_Adrian · Accepted solution]

joe2209 -

I can understand that exactly!  Those hard bumps on a credit report can make a difference.  Generally, they'll let you know if you've qualified for a promotional offer - but I don't think it would hurt to give them a ring and politely ask if there is anything they can offer you.

As with any business, sometimes there just isn't a promotion going on at the moment, or they simply can't opt additional individuals in, but asking isn't a bad thing to do in rare circumstances.  Then you'll know for certain which route you want to proceed with your purchase.   

Adrian