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.