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The Truth About No Credit Needed¹

No Credit Needed¹ is being advertised virtually everywhere. This messaging is being targeted at customers who have poor or no credit, which can be a great thing. However, as a retailer, you have a decision to make. You have to decide which No Credit Needed¹ provider is best for you and maybe even more importantly, which option is best for your customers. These are decisions that shouldn’t be taken lightly.

Many tertiary finance companies advertise “zero down” along with zero fees to the merchant. Sounds pretty good, doesn’t it? When you combine that with 90 or 100 days same as cash, you’re probably envisioning lines of customers waiting to get into your store and take advantage.

Well, think again.

Are you really doing your customers a service with these options? You know if you don’t offer your customers the options they want, they will go somewhere that will. That could mean that they go to one of those “Rent To Own” stores where they’ll probably end up paying more in the long run. In order to get their business and make sure they’re taking care of, you MUST offer your customers a No Credit Needed¹ payment option that isn’t misleading and actually provides them with benefits that will impact their life for the better.

It isn’t a secret that companies offering No Credit Needed¹ financing don’t make a dime unless your customers goes “over” the advertised 90- or 100-day payment option. Many companies go out of their way to make it hard for customers to pay on time. As merchants, you can do your part to remind your customers to pay off their balances within the advertised window, but if something does happen and the customer goes over the agreed term, you look bad.

What if you worked with a No Credit Needed¹ company that did things differently?

At Acima Credit, we will proactively remind your customer that their 90-day payment option is approaching. Why would we do that? The answer is simple. Acima is on a mission to create a BETTER No Credit Needed¹ payment option for consumers. We actually reward customers for paying off their balances early. Not only that, we help the customer build their credit at the same time! Acima reports your customer’s credit to Experian to help your customer eventually leave the poor or no credit box they have been put into.

On top of being customer-focused, Acima also has great tools to help merchants succeed. We help you with marketing so your potential customers know you’re offering one of the best No Credit Needed option that’s out there. If you’re not taking advantage of this yet, it’s time to get started. In fact, you can offer it at your store today! Simply call our merchant specialists at 801.297.1984 to learn more!

¹While no credit history is required, Acima obtains information from consumer reporting agencies in connection with a lease application.