What is Snap Finance?
Snap Finance offers lease-to-own financing, enabling customers to acquire merchandise immediately and make payments over time. This option is particularly beneficial for individuals with less-than-perfect credit.
How does the payment structure work with Snap Finance?
Snap Finance operates on a lease-to-own model, where customers make scheduled payments over a 12-18 month term. Early buyout options, such as the 100-Day Option, are available for those who wish to own the merchandise sooner.
Are there credit requirements for Snap Finance?
Snap Finance caters to customers with all credit types, including those with poor or no credit history. Approval is based on various factors beyond credit scores.
How does Snap Finance impact my credit score?
Snap Finance uses data from secondary credit reporting agencies for lease-to-own products, so applying may affect your credit score with these agencies but is unlikely to impact your FICO® score or scores from the three major credit bureaus.
Can I pay off my balance early with Snap Finance?
Yes, Snap Finance offers early buyout options, including the 100-Day Option, allowing you to acquire ownership sooner and reduce the overall cost.
How do I manage my payments with Snap Finance?
You can manage your account, view transactions, and make payments through the Snap Finance Mobile App or the Customer Portal on their website.