RC Willey Payment Plans

Premier Payment Plan †

This promotional payment plan is available on all RC Willey purchases over $299. The plan requires a MINIMUM PAYMENT of 3% of the principal balance (4% with Payment Protection Insurance) each month until paid in full. Interest accrues from the date of purchase and the rate of 1.00% per month (APR 12%) calculated on the monthly average daily balance. The plan is subject to RC Willey credit approval. Some restrictions apply. See your nearest RC Willey store for details.

6 Months, Deferred Interest †

This plan offers no down payment and is available on purchases over $299.00. The plan has a MINIMUM PAYMENT (3% of the principal balance or 4% with Payment Protection Insurance) DUE EACH MONTH for 6 cycles. On the 6th billing cycle the customer will be billed for the final principal payment. If the balance is not paid in full by the due date, the accrued interest will be added to the remaining principal balance and transferred to the customer's Regular Payment Plan. If 2 consecutive payments are missed, accrued interest will be charged from the date of purchase at a rate of 1.75% per month (APR 21%) on the average daily balance, and the entire balance transferred to the Regular Finance plan. This plan requires a $1.00 per month handling fee for paper statements. Web statements are available at no charge.

12 Months, Deferred Interest †

This plan offers no down payment and is available on purchases over $999.00. The plan has a MINIMUM PAYMENT OF 5% DUE EACH MONTH for 12 billing cycles. On the 12th billing cycle the customer will be billed for the final principal payment. If the full balance is not paid in full by the due date, the accrued interest will be added to the remaining principal balance and transferred to the customer's Regular Payment Plan. If 2 consecutive payments are missed, accrued interest will be charged from the date of purchase at a rate of 1.75% per month (APR 21%) on the average daily balance, and the entire balance transferred to the Regular Finance plan. This plan requires a $1.00 per month handling fee for paper statements. Web statements are available at no charge.

18 Months, Deferred Interest †

This plan offers no down payment and is available on purchases over $1,999.00. The plan has a MINIMUM PAYMENT OF 5% DUE EACH MONTH for 18 billing cycles. On the 18th billing cycle the customer will be billed for the final principal payment. If the full balance is not paid in full by the due date, the accrued interest will be added to the remaining principal balance and transferred to the customer's Regular Payment Plan. If 2 consecutive payments are missed, accrued interest will be charged from the date of purchase at a rate of 1.75% per month (APR 21%) on the average daily balance, and the entire balance transferred to the Regular Finance plan. This plan requires a $1.00 per month handling fee for paper statements. Web statements are available at no charge.

Bright Start Payment Plan

This payment plan is available on all RC Willey purchases. The plan requires a MINIMUM PAYMENT of 5% of the principal balance each month until paid in full. Interest accrues from the date of purchase and the rate of 1.75% per month (APR 21%) calculated on the monthly average daily balance. The plan is subject to RC Willey credit approval. Some restrictions apply. See your nearest RC Willey store for details.

Regular Payment Plan

This payment plan is available on all RC Willey purchases. The plan requires a MINIMUM PAYMENT of 3% of the principal balance (4% with Payment Protection Insurance) each month until paid in full. Interest accrues from the date of purchase and the rate of 1.75% per month (APR 21%) calculated on the monthly average daily balance. The plan is subject to RC Willey credit approval. Some restrictions apply. See your nearest RC Willey store for details.

† Plans that are not available at participating merchants. These plans only apply to purchases made at RC Willey store locations.

Definitions

Average Daily Balance

To get the "average daily balance" we take the beginning balance of your account each day, add any new [purchases/advances/loans], and subtract any payments or credits, [and unpaid interest charges]. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the "average daily balance."

Minimum Monthly Payments

Minimum monthly payments range between 3% and 5% of your accounts highest balance until the account is paid in full. The percent used to calculate your monthly payment is based upon several factors including credit history.

Billing Cycle

A billing cycle is the period covered by a statement. The charts below will help you determine what billing cycle your plan will be transferred to your Regular Payment Plan if the balance isn't paid in full.