Acima credit llc features different financial solutions.
Acima Credit used to give a lease-to-own
financing through point-of-sale
financing process
with instant approval on items such as furniture
and home appliances and all the transactions/sales are made through
online or in-store by the participating merchants, such as furniture and
appliance stores.
On each and every application, Acima credit does a soft credit pull, though approval is based
mainly on borrower’s income and checking account history instead of credit
history. To qualify, borrower will need a monthly income of at least
$1,000 over the past three months, deposited into a checking account. It’s an option for borrowers with bad credit.
Note: Leasing is costly if you’re unable to pay it
off early.
Homepage
Founder
& CEO
Aaron Allred
Establishment
From
2013 to Present
Industry
Sector
Private
Independent company of Consumer Finance
Headquarter
& Contacts
Acima Credit.
9815 S. Monroe
Street 4th Floor,
Sandy, Utah 84070
Call : 801-297-1982
Website
Total Employees
246
Revenue
More/less $12Million
Total Funding from Establishment
More/less $125Million
Competitors
Some potential competitors are given here--
Acima
Credit Eligibility
1)
Must purchase something quickly and you don't have reserve funds or a
Mastercard:
Acima
offers financing on items typically made with a credit card. Given the high
costs, it makes sense only if you pay off the lease within 90 days. Paying it
off over 12 months doubles the cost of your purchase.
2)
Have awful credit: Acima has no minimum credit score requirement and
approval is based mainly on your income. Acima also reports payment activity to
credit bureau Experian, so timely payments may help build your credit.
Repayment Choices
Acima offers one rent model — a
year lease to-claim understanding yet clients can demand one or two early
result choices to lower the costs:
1) Repay inside 90 days: You pay the price of the item, plus a $10 payment
processing fee and a $40 rental agreement fee. About a third of Acima’s
customers use this option, according to the company.
2) Repay following 90 days, however before a year: You
pay an amount that’s less than the remaining payments owed. The amount of the
discount is based on the payoff date and your state’s lease laws, according to
Acima.
You must contact Acima’s customer
service department to exercise either early payoff option. Acima takes
automatic electronic payments from your checking account over the repayment
period.
Example: Suppose you purchase some
home appliances that costs $2,000 and sign a lease agreeing to pay $4,000 over
12 months. If you pay off the lease in the sixth month, the total cost would be
approximately $3,000, according to the company.
Returns: You can return an item, but
only after your first payment. Some retailers may accept returns within 60 days
of purchase; after 60 days, returns go through Acima.
Customer complaints & feedbacks: Acima Credit has more than 200 complaints with the
Better Business Bureau (BBB), the majority on billing and collections.
Several customers have reported issues exercising Acima’s 90-day, early-payoff
option.
Acima
Credit’s Terms & Conditions and credit rates :
