Furniture shopping isn’t quite affordable anymore given the hikes in prices. Expensive purchases coupled with poor credit score almost always means you won’t be able to buy what you need at the moment. However, Ashley Furniture no credit check financing may be the answer that you are looking for!
How Does Ashley Furniture No Credit Check Financing Works?
As per recent information on Ashley Official Website, the company does not offer no-credit-check financing.
You can apply for store-specific credit cards after hard inquiry and open an account with fair credit score.
I have covered the details of the credit card options below. You should keenly observe the credit score you need in order to qualify as well as the repayment terms. If there is any ambiguity, get in touch with customer support service offered by the Synchrony Bank and the First Electronic Bank for further details.
1. Ashley Advantage Credit Card
The first credit card option you have with Ashley Furniture store is that of the Advantage card issued by the Synchrony Bank. You can apply for this credit card if your age is above 18 years and you have a valid SSN and US address.
Applicants must show a credit score of 650 or mote along with a stable source of income to increase the chances of getting approved.
This credit card offer 6-12 months of financing. You can use it for online or in-store purchases. If you happen to be shopping in store, the repayment terms may be increase to 12, 48, 60 or even 72 months!
2. Genesis Credit Ashley Advantage Gold Account
Those with less than average credit score can consider Genesis Advantage Gold account instead. This also requires you to be of above 18 years age but the minimum credit score requirement is just 550.
You can apply for it online but you must provide SSN, address, proof of income, etc. Please note that this credit card is not available in West Virginia.
What’s interesting about Genesis Credit account is that it has flexible terms. The bank i.e. First Electronic Bank may set the terms as per your case. Typically, income and debt situation is considered before deciding the credit limit and account terms and conditions.
Those with outstanding credit history may be able to qualify for 6-12 months of interest-free financing. However, this requires that you pay the balance in full before the allotted period ends. Otherwise, you will have to pay the interest from the purchase date.
What Credit Score Do You Need To Get Approved For Ashley Furniture No Credit Check Financing?
Since the offer clearly mentions “no credit check” I like to believe that people with poor credit score can get approved for this financing.
However, according to some reports, those who have credit score of 650 or more, found it easier to qualify for Ashley Furniture Financing.
It must be noted here that, good credit standing is only one of the requisites. Your application may be turned down for number of other reasons. Issuers also look into debt situation, monthly income, financial stabilities, etc. when opening your account.
Although you have high chances of getting approved here with average credit score, the story does not end there. Since the store, and other financing retailers, report to credit bureaus, your score will dip if you don’t make timely payments. Therefore, make sure you pay off on time or pay the entire purchase at once to avoid any unfavorable situation.
Before You Go!
As it turns out, no credit check financing is not available at Ashleys. What you can do is make use of Genesis Credit Advantage credit card or Ashley Advantage credit card instead. These are store-specific cards that allow you to open account with less-than-average credit score and then use the credit line to make the purchases more affordable.
You require a minimum credit score of 550 to 650 to open an account here. However, Synchrony bank is known for its easy approval odds so if you are applying with a fair credit standing, stable source of income, and least debt on your report, I am hopeful you will have no trouble qualifying!
Miriam Caldwell is a dedicated & expert freelance writer to educate people about personal finance management and budgeting. She shared her knowledge and published the articles at TheBalance.com, GOBankingRates, and BlissfullyDomestic.com. Many financial institutes pick Caldwell as the brilliant source for educational personal finance content.