No matter if you want to decorate your living house or fill your new place with fashionable furniture, you need to spend money. But, if you don’t have saved cash, you can consider furniture financing. Today, I’ll talk about Ashley Furniture no credit check financing.
How To Get Ashley Furniture No Credit Check Financing
Does Ashley furniture have no credit check financing? To be straight, Ashley doesn’t offer any ‘no credit check financing option. However, if your credit is less-than-perfect, you can still hope to get a furniture loan from Ashely. Apply for the Ashley Advantage Credit Card or Genesis Credit Ashley Advantage Gold Account.
Although both methods will do a ‘hard pull’ on your credit, you will be able to pass if your credit history is ‘fair’ or better.
The Ashley Advantage Credit Card is for them with a good credit score. On the contrary, the Genesis Credit Account is more for the people with ‘Fair’ credit scores. If you have an average credit score or declined an Aadvantage Credit Card, this option is for you.
Now let’s know about the options in detail:
Ashley Advantage Card
- Minimum Credit Credit Score: 650
- Must be 18 years old.
- Need a valid Social Security number.
- Need a valid U.S. address.
- Need proof of income.
Benefits Of Ashley Advantage Card
Interest-Free Financing: If you spend above a minimum purchase amount, you can enjoy interest-free Ashley furniture payment with the Ashley Advantage Card. Here’s the minimum purchase for interest-free financing –
- No interest for six months on any purchase.
- No interest for twelve months on any purchase.
- No interest for twenty-four months on purchasing over $1,499.
- No interest for thirty-six months on purchasing over $1,999.
- No interest for forty-eight months on purchasing over $2,499.
Exclusive Discounts: With this Ashley furniture credit card, you will be able to get exclusive discounts that aren’t available to other customers. They will offer coupons for in-store and online purchases. And this is also one selling option of the Ashley Advantage Card.
No Down Payment: Unlike most stores, where you require paying shipping costs and taxes up-front on installments, these cardholders won’t require any down payment. So, you will be able to get your furniture before you need to make your first payment.
Card Security: If cardholders sign up for the ‘Card Security program, they can have peace of mind if an event occurs where they cannot make their monthly payments.
But, the event has an eligible one, which includes leave of absence, unemployment, hospitalization, nursing home stays, death, and disability. You will be charged a small fee if you sign up for the program.
Online Management: The cardholders can directly manage their Ashley Advantage credit card account from their mobile phone.
Drawbacks Of Ashley Advantage Card
High APR: You will need to pay an excessive APR of 29.99% after the interest-free financing period expires. But, you can avoid paying this exorbitant interest rate if you manage to pay full payment within the 23 days grace period.
Deferred Interest Charges: It’s not hard to lose the interest-free benefits of the Ashley Advantage Card. If you just miss or are late on one payment on the financing period for standard APR, this 29.99 APR will be applied to the whole amount, not just for the left balance.
Huge Late Payment Penalty: If you miss a payment and don’t sign up for Card Security, you will need to worry about the penalty fee, which can be from $27 to $37. Compared to the other credit cards, this card has excessive penalty fees.
How To Apply For Ashley Advantage Card?
You can apply for both online and physical Ashley Home Store retail locations. The online application process is pretty simple. You can fill out the application within a few minutes. After you submit your application, Ashley’s system will analyze all your information and give you a response.
I would recommend waiting before applying until you buy some products from the Ashley Furniture HomeStore or online; otherwise, you won’t be able to use them anywhere. Also, make sure you meet all the requirements.
Genesis Credit Ashley Advantage Gold Account
- Minimum credit score requirement – 550.
- Applicants need to be 18 years old.
- Need a valid Social Security number.
- Need your current address.
- Provide your proof of income.
Genesis Credit Card is a new addition to Ashley’s financing. So, there isn’t much information about them online.
The terms of this card are set on a case-by-case basis. Your limit will be based on your current income and leftover debts. Depending on your history, you can even get six or twelve months of interest-free loans.
But, you have to pay the full price before the promotion period, or a pretty huge interest will be piled up.
First, Electronic Bank issues this card, and they will check the validity of your information. So, if you miss or are late on any payment, the bank will inform the major credit bureaus. So, you should only go for the financing option if you are sure you can afford this, or it will further damage your credit.
How to qualify for Ashley furniture financing?
Just as I said before, if your credit score meets the minimum credit requirement, you will be most qualified. But, the minimum requirements for both the Ashley Advantage Card and Genesis Card are estimated. Ashley officially doesn’t say anything about the minimum requirements.
But, from different customers’ experiences, it seems Ashley doesn’t provide Ashley Advantage Cards if your credit score is under 650. Even a guy with 643 didn’t get approval for this card.
On the other hand, the Genesis credit cards with no annual fee are officially mentioned as Ashley furniture financing bad credit. However, there isn’t any certain number, and I estimated it to be 550. Besides, you will require other standard criteria – has to be 18 or over, USA resident, and valid identity proof.
Can I Finance Furniture With Bad Credit?
Yes, you can receive furniture finance even if you have bad credit. Several stores allow financing for bad credit. Rent-A-Center, Aaron’s, Fingerhut, and FlexShopper are pretty famous among them.
Here are brief details of these stores –
Rent-A-Center: The Rent-A-Center most popular store for people with bad credit to go for financing. The company has an old history and currently offers more than 2,500 stores across different countries.
Their different financing options don’t care for your credit score. Rent-A-Center provides everything you need for your house to decorate. You will get options for living rooms, dining rooms, and bedrooms in the furniture category. You can also get appliances and other electronics from them.
Aaron’s: Aaron’s is another store that offers furniture financing to people with bad credit. This company categorizes into lease-to-own stores. Similar to the Rent-A-Center, it is also an old company and offers similar products.
But, loan terms are simpler with this company. They have different options for people with decent and above credit history and people with bad credit history.
Fingerhut: Fingerhut is more of a bad credit lender than a wrong credit furniture financing company. William Fingerhut is the founder of the firm, which was founded in 1948.
Fingerhut is a renowned source of poor credit furniture financing, but it also offers a wide range of other products to customers. The firm employs over 6,000 people and earns more than $500 million each year.
When you browse the website, you will notice that there are several goods available for purchase. Furniture, clothing, shoes, electronics, housewares, fitness equipment, office supplies, cellphones, and more are available. This organization can not only outfit your home, but it can also help you tighten up your clothing.
The other companies are also pretty much the same and operate in a similar manner.
What credit score do you need to get approved for Ashley?
Ashley has two different financing options – Ashley Advantage Credit Card and Genesis Credit Card. The Ashley Advantage Credit Card requires a minimum 650 credit score, and the Genesis Credit Ashley Advantage Gold Account requires a minimum 550 credit score.
But, I have to remind you again, these minimum scores are just estimations provided by different situations. They may check other things when providing approval to you.
Alternative – Personal Loan
You need at least a fair credit score to get furniture financing from Ashley. But, still, there isn’t any guarantee you will get furniture finance. Then, you can look at other stores for their finance option.
In the worst-case scenario, you won’t get any financing from other stores. In that case, you can think of getting a personal loan. Personal loans are fixed-rate loans, which you can repay in equal installments over a set period.
There are several places you can get a personal loan from. You can get a personal loan from different lender networks, like Money Mutual, CashUSA, CreditLoan, etc. If your credit score is good, you can also go to a bank or credit union.
You can also ask your friend or family to lend you some money. This way, you can avoid significant interest rates.
So, to sum this up, Ashley no credit check financing; you can get furniture finance from Ashley if your credit score is over 550. If you are under this minimum score, you can’t get approval for Ashley’s credit financing.
But, there are other furniture stores that will provide you a financing option, even if your credit score is pretty low. That’s all for Ashley Furniture No Credit Check Financing.