For individuals who want to purchase homeware and furniture on credit, a @home account is a must-have. The account can be used to make purchases at any of the @home stores across the country. Depending on the budget specified, credit purchases made with the account may be interest-free.
@home is known in South Africa for offering some of the greatest furniture and household items, and the company has subsequently gained a reputation for selling high-quality products. Bathroom items, furnishings, curtains, bedroom decor, and fragrances are all available at the store. All of these are available on credit to @home account holders.
Any TFG partner store in South Africa accepts the @home account. The @home account can be used at over 900 TFG associate stores. Fashion, telephones, appliances, electronics, and other products are also sold in the partner stores.
Having a @home store account opens up new avenues for shopping, and the possibilities are endless. Knowing what to do with the account is crucial, thus one should familiarize themselves with the account’s capabilities. Below, we go over the @home account in great detail to show you how it works and what you can get with it.
@home account summary
The @home account is a revolving credit card that can be used to make purchases at any @home store. The account requires that the applicant be 18 years old and have a source of income. Account-holders have the ability to purchase products now and pay for them later. The account is billed on a monthly basis with a quote of how much should be repaid.
The budget plan chosen will have a significant impact on account repayments. Budget plans include an interest-free 6-month budget plan and an interest-bearing 12-month budget plan.
The account includes vouchers that can be used at any @home store or one of its partner businesses. The vouchers that are given out when you open an account are worth R1500.00. These vouchers are claimable over time and it takes 6 months to claim all the vouchers.
The @home account includes immediate participation in the MyTFG rewards program. When you join the MyTFG rewards program, you’ll have a lot of chances to win and collect rewards. Discounts on certain items as well as personalized vouchers are among the rewards.
There’s also a way to protect the credit you’ve used. Account-holders can secure their balance by purchasing customer protection insurance. If something happens to the insured, the insurer makes a payment. If the insured becomes permanently or temporarily incapacitated, dies, or loses their employment, they are protected.
How the @home account works
The @home account is a revolving credit account for which you must apply. In order to begin an application, the applicant must have all of the relevant paperwork and information. Online or in any @home store in South Africa, applications are accepted.
The account can then be used to make purchases at any @home store or at @home partner stores after a successful application and credit is granted. The account member has access to over 900 stores that sell both unique and similar products.
A budget plan must be chosen while making purchases. When using the @home account to make purchases, you have two budget options. The first choice is a 6-month budget that bears no interest. The interest-bearing 12-month budget option is the second budget option.
The budget you choose will affect how much you pay each month as well as the overall amount you owe. The 6 months budget choice will require a high monthly installment but a low total amount payable, whereas the 12 months budget option will require lower monthly installments but a larger total amount required.
The repaid amount is subsequently made accessible to the account holder for future credit transactions. However, interest paid and monthly service fees will not be included in the amount available from repayments that can be utilized again.
If a consumer needs to increase his or her credit limit, he or she can do so by filling out an application. @home, on the other hand, has the ability to increase or lower the credit limit at any time. Furthermore, a temporary credit increase can be requested at checkout and approved immediately.
Advantages of the @home account
- Account-holders are automatically enrolled in the My TFG rewards program, which offers discounts and vouchers.
- The account can be used at over 900 locations in South Africa.
- Customer protection insurance is an option available that protects the credit used.
- The account comes with R1500.00 worth of vouchers.
- Payments to the account can be made in a variety of ways.
- There are two budgets which you can pick from.
- The account can be used to make online purchases.
- The account allows account holders to purchase not only appliances and furniture, but also other items such as telephones, clothing, and other items.
Disadvantages of the @home account
- If you miss a payment, you may end up paying a higher interest rate.
- Too many shopping options may encourage account holders to buy more and become overly indebted as a result.
Conclusion
The @home account gives account holders access to a variety of buying options outside of the @home catalog. Because there are so many purchasing options, account holders must be cautious about how they spend because the money they spend will have to be repaid.
