You will love that Rent-A-Center isn’t like other furniture and appliance stores. You can get the products you want from the big brands everyone knows, like Ashley Furniture and Maytag, but without applying for a credit card or small loan and without using credit at all. That means you don’t have to wait to enjoy a new washer and dryer when your old set breaks. And when the school year starts, you can get your student a new laptop, no matter your credit score.
It almost sounds too good to be true. But it’s not. And it’s okay to have questions about how it all works.
1. Do I need a good credit score?
No. No credit history is required and we do not require a minimum FICO credit score. We don’t extend credit or interest rates that are dependent on your credit history. If you find yourself in a situation where you need a break from payments, you can stop or freeze them at any time, as long as your contract is in good standing.
2. Does Rent-A-Center build credit?
Rent-A-Center lease-purchase agreements do not report to credit bureaus and can neither help nor hurt your credit history. However, we do have some helpful suggestions if you’re looking to build your credit.
Remember that your credit score is a number that tells a lender or bank how “creditworthy” you are when it comes to paying back a loan. Late payments on bills and high balances on credit cards can negatively impact your score.
One of the best ways to build credit is to pay your bills on time. Car payment, utility bill, or rent — whatever the bill, do your best to pay it on time. Work to pay down credit card balances, too. You’ll be able to avoid extra fees and other charges that some companies tack on for late payments.
“If you are trying to establish a strong payment history, you can do so by making small purchases on your credit card each month, paying the balance in full, and making sure all payments are made on time,” advises Experian, one of the largest credit reporting companies.
3. Does Rent-A-Center report to credit bureaus?
Rent-A-Center does not report your payment history to the credit bureaus. We know life happens so, we allow you to return your products at any time without further obligation. After all, you’re not shopping with credit when you come to Rent-A-Center. A rent-to-own agreement is a renewable lease with the option – but not the obligation – to own the merchandise when you’re ready. It is not a loan.
4. Is Rent-A-Center worth it?
Many shoppers would say that Rent-A-Center is worth it! While Rent-A-Center might not be the right choice for everyone or every circumstance, it can be an excellent choice for shoppers who want options, convenience, and quality — all without credit restrictions, the burden of debt, or high interest rates.
Unlike other retail stores, Rent-A-Center doesn’t push you to open up a credit card with a high interest rate just to get the furniture, appliances or electronics your family needs. Getting started with Rent-A-Center doesn’t require a good credit score. No credit is extended, and no debt is incurred.
Instead, we offer a flexible lease with several ways to pay. Pay the cash price of the item or choose weekly, semi-monthly, or monthly payments without a long-term commitment or growing interest. These plans give you the option to purchase the item whenever you want and save. You are always in control.
Ready to see all of your choices and enjoy a no-credit, worry-free shopping experience? Learn more about the benefits of shopping with Rent-A-Center and visit your nearest Rent-A-Center location today. Talk to your local store manager for complete details about user agreements and prices in your area!