The easiest furniture stores to get credit from typically offer low credit score requirements, no credit check options, and fast approval processes. Stores like Ashley Furniture, Rooms To Go, and Wayfair are known for their flexible financing plans, including 0% interest for up to 12 months and simple application processes. These stores also provide online applications, making it easier to get approved quickly, even with a less-than-perfect credit score.
When it comes to furnishing your home, the upfront costs can be a significant challenge. However, many furniture stores offer credit options to help ease the financial burden. Furniture credit can help you buy the furniture you need now and pay for it later, making it a viable solution in various situations, such as:
- Furnishing a new home
- Unexpected expenses for home renovations
- Emergency purchases when you need new furniture quickly
In this article, we’ll guide you through the process of getting easy credit approval at furniture stores and help you find the stores that offer the best financing options for your needs.
Understanding Furniture Store Credit
Before diving into the best stores to get credit from, it’s important to understand what furniture store credit actually is. Many furniture stores offer in-house financing or credit cards as an option to make purchases easier.
Types of Furniture Store Credit
Credit Cards for Furniture Purchases: Many stores offer their own credit cards, which allow you to make purchases and either pay off the balance over time or benefit from exclusive deals like rewards points or discounts.
Store Financing Plans: Some stores provide financing options, such as 0% interest for a set period or installment payments, making it easier to manage larger purchases.
Benefits and Drawbacks
- Benefits: Easier approval than traditional bank loans, flexible payment plans.
- Drawbacks: Interest rates can skyrocket after introductory periods.
Factors that Make It Easy to Get Credit in Furniture Stores
When considering where to apply for furniture credit, keep these factors in mind to improve your chances of approval:
Credit Score Requirements
Each store has its own credit score requirements. Generally, the better your score, the higher the chances of approval. However, many stores accept a wide range of credit scores.
No Credit Check Options
Some stores offer “no credit check” options, which means they won’t pull your credit report. This can be a great choice if you have bad credit or are just starting to build your credit history.
Flexible Payment Plans
Look for stores that offer flexible financing options, like 0% APR for a set number of months or the ability to pay in manageable installments.
Approval Process Speed
Some stores offer fast same-day approval, which can be perfect if you need furniture in a hurry.
Best Furniture Stores with Easy Credit Approval
Here are some top furniture stores that are known for their easy credit approval:
| Store | Credit Approval Speed | Key Features |
|---|---|---|
| Ashley Furniture | Fast (Same-Day) | Low credit score requirements, 0% financing options via Synchrony or Affirm |
| Wayfair | Moderate | Flexible repayment options with Affirm, instant decisions in most cases |
| Bob’s Discount Furniture | Fast | No-interest for 6 months, online application through Wells Fargo |
| Furniture Fair | Moderate | Low-interest financing, no credit check option with Acima or Progressive Leasing |
These stores offer a mix of low credit requirements, fast approvals, and flexible repayment plans to help you get the furniture you need without breaking the bank.
Comparison of Credit Terms Across Furniture Stores
Understanding the credit terms is essential when choosing a furniture store. Here’s a comparison of how different stores offer financing:
| Store | Interest Rates | Repayment Terms | Credit Card Perks |
|---|---|---|---|
| Ashley Furniture | 0% for 12 months | Monthly payments | Discounts on future purchases |
| Wayfair (via Affirm) | 12% APR after 6 months | 24-month installments | None |
| Bob’s Discount Furniture | 0% for 6 months | Lump-sum or installments | Rewards points |
| Furniture Fair | 14% APR | Flexible terms | None |
Tips for Getting Approved for Furniture Credit
Want to boost your chances of getting approved for furniture credit? Here are a few practical tips:
Check Your Credit Score
Before applying, check your credit score to see where you stand. You may qualify for better terms if your score is in good shape.
Lower Existing Debt
Try to lower existing debt or reduce your credit utilization before applying to increase your chances of approval.
Consider a Co-Signer
If you’re worried about approval, you might want to apply with a co-signer who has a stronger credit history.
Pros and Cons of Furniture Store Credit
Pros
- Easier approval than traditional bank loans.
- Flexible payment plans that suit your budget.
- Exclusive deals and discounts for credit users.
Cons
- High-interest rates after promotional periods end.
- Can impact your credit score if payments aren’t made on time.
- Risk of overspending due to easy credit access.
Alternative Financing Options for Furniture Purchases
If furniture store credit doesn’t seem right for you, consider other options like:
- Third-party financing services: Affirm, Klarna, and others offer pay-over-time options that can be used at multiple stores.
- Personal loans: Compare interest rates with store credit cards to see which is more cost-effective.
- Credit cards: General-purpose credit cards with low interest or rewards programs may be a good alternative.
What to Avoid When Applying for Furniture Credit
Red Flags to Watch For
Be cautious of stores that charge excessive fees, offer high-interest rates, or have poor customer reviews regarding credit practices.
Avoid Debt Traps
Be sure to only borrow what you can afford to pay back. Overspending with easy credit can lead to long-term financial strain.
Conclusion
Choosing the right furniture store with easy credit approval requires careful consideration of your financial situation. Look for stores that offer flexible payment plans and low credit requirements to ensure you can pay off your purchases comfortably.
Take time to compare financing options, and use the tips provided to boost your chances of approval. Whether you’re furnishing a new home or just replacing an old couch, the right credit plan can help you make your dream home a reality.
FAQs
1. Can I get credit for furniture with bad credit?
Yes! Many furniture stores offer no credit check options or accept a wider range of credit scores. Stores like Store 4 often cater to those with lower credit scores.
2. How long does it take to get approved for store credit?
Approval can be instant at some stores, while others may take a few days to review your application. Generally, the faster stores are those offering same-day approval.
3. Are there any furniture stores that offer no-interest financing?
Yes, stores like Store 3 offer 0% interest financing for a limited period, often 6-12 months.
4. Is furniture store credit better than using a personal loan?
It depends. Furniture store credit can be convenient for specific purchases, but personal loans offer more flexibility if you need to borrow for multiple purchases or want better terms.
