Day's Financing Questions

DAY’S PREFERRED CREDIT FREQUENTLY ASKED QUESTIONS

1. What is the Interest Rate?
The interest rate (Annual Percentage Rate) is 19.80%. If you should fail to make you minimum payment due within sixty (60) days of the applicable Payment Due Date reflected on your statement, the Penalty APR will be 29.99%.

2. Will you look at my credit report?
Before we open an Account we may check the information you have given us with a consumer reporting agency or with others. We may also request additional information from them, including a credit report, before approving your application. We may also ask for a credit report after your Account is opened if we want to update our records, renew your Account, decide whether to give you additional credit, or for any other legitimate business purpose. If you ask, we will tell you if we requested a credit report. If so, we will give you the name and address of the consumer reporting agency that supplied the report.

3. How do I apply for an account?
The credit application can be found in the dark blue “Apply Now” tab. Submit the application after all fields have been filled out and you have digitally signed the document.

4. How long before I get a decision?
Hours of operation for the Credit Department are Monday through Friday 9am to 8pm, and Saturday from 9am to 6pm. Generally, a credit specialist will respond within 30 minutes to application submitted online during business hours. Any applications submitted after hours are replied to the following business day.

5. When is my due date?
The due date will be on the 23rd of the month after the purchase has been made. If you have an automatic payment set up, or would like to set one up, the due date will be on the date that works best for you in the calendar month.

6. How can I pay my bill?
We offer several ways to allow you to make your monthly payment. By mail via check, money order, or similar. Automatic debit drawn from your debit card, credit card, or checking/savings account information. Payments are accepted over the phone to the credit department by means of debit card, credit card, or checking/savings account information. And in store by means of check, money order, debit card, credit card, and U.S Dollars.

7. What payment terms do you offer for repayment?
Our standard account type is a fixed 10 months. We also offer a flexible account type allowing for us to be as short as 2 months up to a maximum of 20 months. We believe that the shorter payment terms will allow a quicker return of the available balance, and also a lower amount of interest to be paid by our guests.

8. How do I check my current balance after I’ve made a payment?
Your online statement will only reflect a copy of your monthly statement and will not update until the following month. The only way to check the current balance or your available balance to use currently is to call the credit department at (207) 680-1679 or 1-800-439-3297

9. How can I avoid paying interest?
Your due date is at least 21 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.

10. Is there an annual fee?
There is no annual fee to have a Day’s credit account.

11. How much is a late fee if I miss a payment?
Being based in the State of Maine, late fees processed are mandated to either $10 or 5% of the Amount Past Due, whichever is less.

12. How much do you charge for a returned payment?
Currently the fee charges to us for a returned payment is $25, and that is what we would charge back to you.

13. How do I change my name in your system?

We require any name changes to be supported by documentation added to your account. We can accept faxed photocopies, or digital copies sent directly to us via fax, email, or mail. Once we have that, we can change the name in our system.

14. Can I use my Day’s Preferred Card at other stores?
The Day’s Preferred Card is an in-house credit account that is for use in any Day’s Jewelers location, and our web store online only. It is not for use anywhere else.

15. How can I increase my limit?
A request for a credit limit increase can be submitted by filling out the short form found in the blue tab entitled “Request Credit Limit Increase”.

16. Do you ever close my account?
There are 2 reasons why a Day’s Credit account will be closed by us. The first would be for an extended period of inactivity. The other reason would be due to extreme payment delinquency.

17. How do I set up automatic payments?
Automatic payments can be set up at the time of purchase at any Day’s Jewelers location. It can be set up online, by you if you create your account. Or you can call the Credit Department directly and request they set one up that is managed by us.

18. How do I find out how much credit is available on my account?
Currently, the only way to know how much credit is available is to contact us in the Credit Department for an up to date limit availability.

19. What do I do if I’m unable to pay due to financial difficulties?
There are numerous reason why someone’s finances can change. We understand and are here to help you through this rough patch. Contacting us in the Credit Department is the first step in getting the help you need. We can work solutions for short term and have answers for help for longer term situations. (207) 680-1679 or 1-800-439-3297

20. How do I close my account?
Account closure is as easy as a request form filled out and submitted in store, or calling the Credit Department, providing some information to prove your identity and requesting it to be closed. (207) 680-1679 or 1-800-439-3297

21. How do I authorize a user on my account?
If you would like to allow a family member or friend the use of your Day’s Preferred Credit account, you will need to accompany them to the store, or telephone the Credit Department to prove your identity and request this person be added as a user on the account. They will remain a user, with no financial liability to make payments until which time you let us know you’d like to end the authorization. (207) 680-1679 or 1-800-439-3297

22. Do I have to pay every month?
Your payment plan is created to pay the account off in the least amount of time agreed upon, within repayment terms allowed by us. Minimum payments are expected monthly to meet this repayment schedule, and missed payments are figured into your next month billing cycle.

23. Will a double payment count for 2 months?
If your account is paid up to date and you make a payment twice the minimum amount due, this will be accounted for as an additional payment paid toward the principle. If you want this to be accounted as a prepayment toward next month’s bill, you will need to notify the Credit Department by phone (207) 680-1679 or 1-800-439-3297, or email us at credit@daysjewelers.com

24. Are there early payoff penalties?
We do not have early payoff penalties.

25. Do you offer paperless statements?
At this time we do not offer paperless statements.

26. Will my payment lower each month, or stay the same? 
Your payment is a fixed payment method, meaning that your monthly minimum will be the same until paid in full or additional purchases have been added to the account.

For a more detailed explanation, please refer to the Terms and Agreements, or contact a Credit Specialist by phone (207) 680-1679 or 1-800-439-3297, or email us at credit@daysjewelers.com