When you want big-ticket items such as TVs, mattresses and the like, plopping down a huge amount of cash can be a real strain on your finances. It’s especially difficult to buy these types of home goods when you don’t have a credit card or you have bad credit. FlexShopper and similar lease-to-own companies make it easy to buy electronics, furnishings, and other items when you don’t have the cash to purchase items outright and/or your credit score has seen better days. Keep reading to find out how FlexShopper works, how sites like FlexShopper works and by the end, you’ll know which you want shop at.

In This Article

  • How FlexShopper Works

    • Applying for a FlexShopper Account
    • Does FlexShopper Do a Credit Check?
    • How Does FlexShopper Leasing Work?
    • What Does Cash Price and 90 Days Same as Cash Mean?
    • What Is the FlexShopper Personal Shopping Assistant?
    • Making Payments and Late Payment Penalties
  • The Sites Similar to FlexShopper

How FlexShopper Works

FlexShopper is a shopping site that gives customers an opportunity to purchase name brand products on a lease-to-own basis. Instead of paying for items upfront or on credit, you can make small payments for an extended period of time. It’s not layaway, though, as you can enjoy your purchases while you pay them off. After completing all payments, you own the item outright.

Applying for a FlexShopper Account

The online application process involves providing basic personal details and financial information. The form is protected by bank-level security software, and your personal information is never shared with third parties, according to FlexShopper.

While you don’t need to have a good credit score to apply, and you don’t need to own a credit card, you do have to show that you are gainfully employed and earning a minimum of $1,000 per month. You may earn this amount at one job or several jobs. Additionally, you need to show that you have a personal bank account (checking or savings), and the account must be at least 90 days old. Once you meet these two mandatory requirements, approval is fairly quick. After approval of your application, a spending limit decision is produced in mere seconds. That means you can start shopping right away. FlexShopper offers spending limits of up to $2,500.

Does FlexShopper Do a Credit Check?

Yes, FlexShopper will check your credit. Expect to have a credit report pulled from FactorTrust, Inc. and/or Clarity Services, Inc. Major nationwide credit reporting agencies (Experian, Equifax, and TransUnion) are not involved in this credit check. FlexShopper doesn’t reveal how much of a role this information plays in approving memberships. While your odds of being approved are good, there are no guarantees, and your application may be declined due to bad credit. In fact, the company states that not everyone with bad credit is approved.

Also, be aware that missed or lapsed payments and failure to return leased goods can negatively impact your FICO score. Treat your FlexShopper lease agreement like any other credit agreement. Making timely payments and following leasing policies can help improve your credit.

How Does FlexShopper Leasing Work?

FlexShopper uses a product leasing model, and when you choose an item to buy, you are entering into a leasing agreement between you and the company. In return for being allowed to use the item at home, you agree to pay FlexShopper a certain amount of money every week during the leasing term. The leasing term includes an initial leasing period of 7 to 29 days (varies by state). During this period, you have the option of returning the item in good condition, effectively ending the lease.

After the initial lease period ends, the lease continues for 52 weeks. At the end of 52 weeks, you own the item (provided all payments were paid on-time).

You can also end the lease early by choosing the Early Purchase Option. To purchase an item early, go to your lease agreement and find the early option table. This table reveals the amount of money you need to pay to complete the purchase ahead of schedule.

What Does Cash Price and 90 Days Same as Cash Mean?

Cash price equals the retail price you must pay in order to own a leased item. This price is usually $50 or more over the price listed by merchants selling the item without a leasing agreement. FlexShopper reduces the cash price amount by $50 for each additional item you order when renting multiple items at once. Multiple item orders do increase rental costs; however, this option is cheaper than purchasing items separately.

Instead of committing to a long lease term, you can take advantage of the 90 days same as cash option. This involves paying off the entire amount you owe for one or more items (including sales taxes) within a 90-day period. You own the item(s) free and clear and there are no further financial obligations.

What Is the FlexShopper Personal Shopper?

Sometimes you have your heart set on a certain item that you don’t see anywhere on the FlexShopper site. When this happens, you can use the FlexShopper Personal Shopper to order items from alternative merchant sites. FlexShopper works with merchants such as Amazon, Best Buy, Dick’s Sporting Goods, and Overstock.com. Simply browse your favorite shopping site, select items you want to rent, and select shipping or store pick up options. You’ll pay for these goods using your FlexShopper leasing plan.

Making Payments and Late Payment Penalties

Payment amounts are included in product listings, and fees and taxes are added to the final payment amount. Once you hit the order button, you’ll be expected to make all payments on time.

Penalties for late payments are not specified on the FlexShopper website. However, if you know you’re going to pay late, or you’re struggling to make an upcoming payment, contact the customer service department and let them know the situation. Being proactive may help you avoid negatively impacting your account.

The Sites Similar to FlexShopper

Here’s an overview of FlexShopper to allow you to easily compare its features to those of its competitors:

FlexShopper

  • Products: Electronics, home decor, health and fitness, baby items houseware products, home and garden, and more
  • Credit check? Yes. Expect to have a credit report pulled from FactorTrust, Inc. and/or Clarity Services, Inc.
  • Approval qualifications: Proof of regular employment totaling at least $1,000 a month; must have an active checking account that’s at least 90 days old
  • Purchase terms: Initial lease term of between 7 – 29 days (varies depending on state), then a lease term of 52 weeks.
  • Spending limit: Up to $2,500
  • Payments: Payments automatically deducted from a checking account
  • Early purchase policy: Yes, available on all purchases; 90 days same-as-cash option also available
  • Perks: FlexShopper Personal Assistant allows you to purchase items from other big-name sites using your FlexShopper credit.
  • Source + More Information
  • Apply online 

1. Emporium

  • Products: Electronics, home decor, baby items, dishes, cookware, pet products, and more; over 100,000 brand name products.
  • Credit check? Yes. A soft credit inquiry is done, but this doesn’t affect credit scores.
  • Approval qualifications: Regular employment or another source of reliable income required; must have an active checking account and be at least 18 years old.
  • Purchase terms: Initial lease term of 2 months (5 months for West Virginia and Vermont)
  • Spending limit: Ranges from $300 to $5,000.
  • Payments: Payments are automatically deducted from a checking account.
  • Early purchase policy: Discount during promotional periods.
  • Perks: Items shipped immediately; low fixed payments; no long-term commitment.
  • Source + More Information
  • Apply online

2. Fingerhut

  • Products: Electronics, clothing, health and beauty, appliances, home furnishings, home decor, pet supplies, and more.
  • Credit check? Yes. Credit report pulled from WeBank.
  • Approval qualifications: Approval based on acceptance of application.
  • Purchase terms: Monthly payment plan; billing cycle can be changed one time during a 12-month period.
  • Spending Limit: Credit limit may be increased after a periodic review of the account.
  • Payments: Minimum payments are made by a specified due date. Available credit updates immediately after payments are posted to the account.
  • Early purchase policy: Items can be paid off early any time, without penalty.
  • Perks: Discount on first order; daily supply of new products; low monthly payments; deferred payment offers available to eligible customers.
  • Source + More Information
  • Apply online

3. Gettington

  • Products: Electronics, home decor, home furnishings, exercise equipment, clothing and accessories, cookware, and more.
  • Credit check? Yes. Credit report pulled from WeBank.
  • Approval qualifications: Approval based on acceptance of application.
  • Purchase terms: Regular payments are made according to a pre-determined billing schedule.
  • Spending Limit: Credit limit may be increased after a periodic review of the account.
  • Payments: Minimum balance due by a specified payment date.
  • Early purchase policy: Not specified.
  • Perks: New customer deals; discount outlet shop; optional payment protection plan available.
  • Source + More Information
  • Apply online

4. LeaseVille

  • Products: Computers, digital devices, gaming systems, jewelry, exercise equipment, and more.
  • Credit check? No.
  • Approval qualifications: Must earn a minimum of $1,000 per month (Acceptable income sources include: self-employment, Social Security benefits, retirement benefits, and long-term disability benefits.); must show regular employment with the same non-temp agency employer for a period of six months. A three-month or longer active checking account (with no NSF or overdraft dings) is required, and the account must show a minimum of five deposits totaling $500 per month. Note: Lease application appears during order checkout.
  • Purchase terms: Lease approval is valid for 90 days; another application must be submitted for orders extending over the 90-day period. Lease period is up to 12 months.
  • Spending limit: Not specified.
  • Payments: $40 or less initial payment is due after an order is received. Payments can be made anytime by logging into an online account.
  • Early purchase policy: Owe the invoice amount if paying within the 90-day buyout period. After 90 days, the early buyout offer is 65 percent of the remaining balance.
  • Perks: Receive goods without making a down payment.
  • Source + More Information
  • Apply online

5. RentDelite

  • Products: Electronics, computers, home appliances, home furnishings, handbags, gaming systems, and more.
  • Credit check? Yes. Credit history information is obtained from various reporting agencies but is not the sole factor in the granting of an account. Bank, residency, and non-financial factors all play a role.
  • Approval qualifications: The age requirement is 18+. Applicants must be gainfully employed or have a regular source of income, have a valid email, and own a credit or debit card.
  • Purchase terms: 12-month lease term. Products can be returned after the initial one-month lease period.
  • Spending limit: Up to $2,500. One rental product purchase per customer per household allowed (multiple products cannot be ordered at the same time).
  • Payments: Payments are automatically deducted from a credit card or debit card according to the lease payment schedule.
  • Early purchase policy: Early payoff amounts vary by state. Contact customer service for a no-obligation quote.
  • Perks: No long-term commitment; no interest charges.
  • Source + More Information
  • Apply online

6. QVC Easy Pay

  • Products: Electronics, home decor, kitchen gadgets, food, jewelry, clothing, health and beauty items, and more.
  • Credit check? Not specified.
  • Approval qualifications: Customers must be approved for a QCard or own a major credit card to pass an installment payment review.
  • Purchase terms: Installment payments are based on the item price and shipping costs. Taxes may apply.
  • Spending limit: Not specified.
  • Payments: Monthly fixed payments until the item is paid off. The billing date is determined by the shipping date.
  • Early purchase policy: Not specified.
  • Perks: Take advantage of special deals; no extra charges when using a QCard or credit card.
  • Source + More Information
  • Apply online

7. Zebit

  • Products: Electronics, home furnishings, baby items, kitchen appliances, jewelry, game systems, and more.
  • Credit check? No.
  • Approval qualifications: Customers must be 18+, be actively employed, or receive regular retirement or disabled person benefits.
  • Purchase terms: Customers receive a no obligation ZebitLine of credit for a specific amount upon registration. Payment schedules are typically six months long, and payment due dates correspond with income source pay periods. Items can be paid in full at checkout without using the ZebitLine.
  • Spending limit: Varies.
  • Payments: An initial payment of up to 20 percent of the total price is made during the order checkout process. Remaining payments are split into equal payments.
  • Early purchase policy: Not specified.
  • Perks: No interest charges or hidden fees. White glove delivery for large items.
  • Source + More Information
  • Apply online

In Summary

And those are the websites like FlexShopper. If FlexShopper isn’t right for you, there’s plenty of lease-to-own companies with attractive terms and loads of great products to choose from. Be prepared to provide proof of income and a checking/savings account, and make sure to make all payments on time to protect your credit.