Mohawk
Credit Card
As one of the largest manufacturers and distributors of all types of floor covering, Mohawk Industries serves as
the primary go-to place for builders, designers, and homeowners alike.
With 125 years of service on its resume, this company carries the most popular brand names in the rug, carpet, and
hard surface flooring industry. Now, loyal customers of Mohawk can get a chance to improve their purchasing power
with the Mohawk credit card, which is issued by GE Money Bank.
The Mohawk credit card is the most convenient way for consumers to purchase all products sold by Mohawk. It serves
as a financial management tool that can act as a regular credit card for other purchases and an emergency ATM with
its cash advance feature. The Mohawk credit card also offers an extended financing and payment feature. It allows a
deferred interest of up to 36 months and has no penalties for prepayment.
For cardholders who prefer a fixed payment scheme, the Mohawk credit card also offers competitive APRs and
transaction fees. The annual percentage rate (APR) for purchases is 28.99%, and for cash advances, the APR is
29.99%. However, a delinquency APR of 29.99% may be applied when a Mohawk credit card holder fails to make minimum
payments on time, goes over the credit limit, or has his/her mailed payment returned. The method used to compute
for the daily balance for purchases is the Average Daily Balance Method. A grace period of 23 days will also be
given if full and on-time payments are made on previous balances. The Mohawk credit card charges a $2 minimum
finance charge. Transaction fees for balance transfers and cash advances are $5 or 4% of the amount, whichever is
greater. Penalty fees include a returned check fee of $39.99 and a late payment fee of $29.99 for balances less
than or equal to $249.99 or $39.99 for balances that start from $250.00. To avoid the delinquency APR and penalty
fees, a Mohawk credit card holder s expected to pay the minimum payment of 3.5% of the “new balance” or $15.00,
whichever is greater.
The Mohawk credit card also features a stop payment fee of $39.99 for payments on convenience checks that are
stopped. Debt cancellation can also be applied to balances starting from $0.99 or $100 to $1.50 or $100 of the
average daily balance.
All queries and complaints about the Mohawk credit card should be addressed to the GE Money Bank toll-free
number that can be seen at the back of the billing statement.
Source: Credit Cards For People With Bad Credit Rating
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