No, applying will not affect your credit score. During pre-qualifying, PayFina performs a “soft pull” of your credit report to make a credit decision and provide approved applicants with the rates and terms of their approval.
If you accept financing, PayFina performs a “hard pull” of your credit report when you sign the closing documentation. A hard pull may impact your credit score.
How long does it take for my payment history to be updated with the major credit reporting agencies?
Customer account history is reported to credit bureaus monthly. It may take up to 45 days to reflect on your credit report.
You must be at least 18 years of age and have:
Completing the application typically takes less than five minutes. The credit decision will be returned within seconds of submitting your application.
No, a Social Security number is required to apply.
Yes, you may apply if you have an income from a reliable source such as Social Security, retirement, pension, or self-employment.
Customers may be approved if they have poor credit or a past bankruptcy. Any bankruptcy must be discharged or dismissed.
No, applicants must qualify individually.
There is no fee to apply and see your offer. If you are approved for a lease, your first lease payment will be due at the time you sign your lease agreement.
Approvals expire after 30 days.
PayFina accepts payments by ACH, debit card, and check.
MoneySKILL® is an online education program that PayFina provides to active account holders free of charge. Developed by the AFSA Education Foundation, MoneySKILL® is a series of interactive, mobile-friendly modules that help improve financial knowledge in areas such as budgeting, savings, investing, credit, renting vs. owning, financing and more.
Installment agreements do not have any pre-payment penalties, so we encourage you to pay off early and save!
Installment contracts with a 100-Day Interest Rebate Promotion enable qualified customers to pay only a nominal fee if they:
Qualified account holders that pay in full during the promotional period will pay the total principal balance of their purchase plus any origination fee or processing fee.
Note: Interest will accrue until your account is paid in full. If you qualify for the 100-Day Early Payoff Promotion and pay your account in full during the promotional period, the interest is rebated and reduces your principal balance.
PayFina’s lease-to-own customers have two types of early payment options:
Early Buyout Option
If you have a lease-to-own agreement, you can save money on leasing fees when you pay off your full balance within the early buyout period. By paying the cash price plus any applicable early buyout fee within the early buyout period, PayFina will consider your account paid off in full.
Your early buyout expiration date is disclosed on your agreement, but you may also contact PayFina for that information. Any customer will pay less to exercise an early buyout option than he or she would to exercise an early purchase option. However, you must exercise an early buyout option within the early buyout period, while you may exercise an early purchase option at any time.
Early Purchase Option
If you have a lease-to-own agreement but were not able to pay off your account within the early buyout period, you can still save money on leasing fees when you pay off your full balance before the end of your agreement term. After the early buyout period has expired, you can exercise your early purchase option by paying a percentage of the lease remaining on the agreement. Contact PayFina to get information on the balance owed.