Amica Credit Review

How to use Acima Credit

Are you still saving money for that couch you selected last year? Give yourself a break and buy the couch today!

With Buy Now Pay Later (BNPL) services, you can take home your couch today and pay for it later. If your next step is to find a BNPL service next, then we’ve got one for you – Acima Credit.

Read on to find out what Acima Credit is, how it works, and if it works for you.

What Is Acima Credit?

Acima Credit is a lease-to-own service provider that offers users to shop now and pay later with minimum/poor credit scores.

With Acima Credit Customers can shop now and pay later for a wide range of services.

Acima Credit provides approved users a spending limit between $300 to $4000. The application process is a complex one as every purchase requires a check. Once approved, users are issued the Acima LeasePay card to make a one-time payment.

You can access products both online at the Acima Marketplace and offline at the retail stores you have applied for.

Acima provides you access to electronics, furnishings, appliances, jewelry, and more products. Some of the brands Acima has partnered with include:

  • Ashley Homestore
  • Electronic Express
  • Dyson
  • Big O Tyres
  • American signature furniture
  • Best buy

How Does Acima Credit Work?

What Is the Acima Credit Application Process?

The process of applying for Acima Credit is as simple as it gets. You can get started by visiting their official website or by downloading the mobile app and sending in an application.

The company reviews your application and approves a spending limit based on what and where you want to shop. You are then free to purchase single or multiple items within this spending limit.

If you’re shopping online then you’re required to select ‘Acima Checkout’ as your payment option. If you’re shopping offline then you’ll be required to submit your lease information to a sales representative.

But before that, you will be required to get approved for the item you are purchasing. This starts with you selecting the item you want to buy. Once you choose an item, you are required to send its description and retailer’s selling price to Acima.

This information is processed by Acima. The company, after processing the information and your eligibility, gives you the terms and conditions  of your agreement that include:

  • Estimate of lease renewal payment
  • Total Number of renewal payments
  • Acima Credit Cash price
  • The total cost of ownership for prepayment

Customers can then review all this information and are free to either accept it or reject it.

If you choose to accept the terms and conditions then you can go ahead and make an initial payment to start the process. This confirms your purchase and allows you to take the item home. This initial payment can be anywhere between $0 to $70.

Note that at this stage Acima assigns you a temporary LeasePay card to make the purchase.

Want to back out of the purchase after paying the initial payment? With Acima Credit, that is possible!

The assigning of the LeasePay card or making initial payment does not yet confirm the purchase. Upon assigning, you are still required to complete acquisitions within 60 minutes of the card issue.

This is where you can back out of the transaction, get your refund for the initial payment, and walk away from the deal.

Will I Be Disqualified Because of My Credit Score?

Concerned that your credit history may have you disqualified? Don’t worry.

Acima does a soft credit check on your income, checking account history, consumer reporting agencies, etc. This soft credit check by acima does not affect your credit score. Since Acima Credit isn’t doing a hard credit check, you can apply and qualify even if you have a bad or poor credit score.

However, Acima does consider credit scores when determining your spending limit or approving a purchase request.

How Do I Qualify?

To qualify for Acima Credit you need to have a minimum income of $1,000. This amount should have been deposited into a checking account over the past three months.

You are also required to submit a government-issued photo ID and SSN or taxpayer identification number.

That’s all you need to get started.

What Are the Repayment Options?

The last step is to choose your repayment plan. Acima provides you the option to sign a lease agreement of the following terms:

  • 12 months leasing
  • 18 months leasing
  • 24 months leasing

Wish to pay in full and purchase the item leased?

You have two options.

  • Within 90 days (3 months in California)
  • After 90 days (3 months in California)

You can buy the item before 90 days by paying the Acima cash price with a markup and purchase fee. If you wish to purchase the item after 90 days, then you need to pay a percentage of the remaining lump sum. The percentage of this varies according to the state you reside in.

Whether it’s a bonus or a windfall gain, Acima won’t ask you for an explanation either way.

Don’t like what you brought? With Acima Credit, you can return the items leased anytime without a penalty!

That’s not all! You can also choose to not renew your lease agreement if you no longer wish to purchase or own the item.

Is My Payment Activity Reported to Credit Bureaus by Acima?

Acima Credit will only report your payment activity to Experian, which is one of the three major credit bureaus.

Pros and Cons of Acima Credit

pros or cons to using the service vs other payment options such as credit cards or pay later apps


  • Great for emergency purchases
  • Available with bad credit as well
  • Accepts returns without penalty
  • Multiple repayment options


  • Complex approval and buying process
  • Cash price is more than what retailer price
  • Customer complaints on billing
  • Costlier for longer repayment duration

In Conclusion: Should You Use Acima?

 Acima Credit is a great way to shop for bigger purchases in life that you’re not sure about. They offer you an upfront terms and conditions document and multiple points to back out of the purchase.

The company is also very clear about most of its early repayment plans, return options, and renewal conditions.

If you’re looking to go for a transparent Buy Now, Pay Later service then Acima Credit is the right option for you!

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