How does 3 months interest free financing work?
It's simple. Pay off your principal balance within the 3 months promotional period and you pay no interest.
Keep in mind, you must make your regular monthly payments on time because if you miss a payment, have a payment returned, or ore late, you no longer qualify for the promotion.
You also will no longer qualify if you fail to fulfill any other obligations under your agreement.
Do all financing approvals have a 3 months interest free offer?
Not all financing approvals have a 3 months interest free offer. The 3 months interest free option is only available on certain RISCs and installment loans.
If you are approved for a 3 months interest free offer, your approval page and agreement will clearly indicate the offer.
What if I don't pay off my balance in 3 months?
If you're unable to pay off your contract within the 3 months promotional period, you'll be responsible for the full terms and conditions of your contract.
This means, you will have to pay any and all accrued interest.
Can I still pay off my contract early, even if it's past the 3 months promotional period?
Yes. You can always payoff your RISC or installment loan at any time.
If you'd like to pay off your contract early, but it’s past the 3 months promotional period, then you'll pay interest up until the point you pay off the remainder of your principal.
You will not continue to accrue interest after you payoff your contract.
What type of financing is offered?
Credova is partnered with noka,a registered name of Cornerstone Bank, and a network of merchants to provide you financing through (1) Merchant originated unsecured retail installment sales contracts (RISCs) or closed-end consumer lease agreements or (2) noko-originated unsecured installment loons.
Your financing product will be determined by your state of residency, credit approval and your selection.
What is the difference between o RISC, on Installment Loon, and a Closed-End Consumer Lease Agreement?
With a RISC and on installment loan, you are purchasing the item and agreeing to make installment payments over a specific term plus any associated interest rote.
RISCs are made by the merchant and on installment loans made by a bank or other lender. A closed-end consumer lease agreement doesn't have an interest rate, but rather charges monthly leasing fees.
With a closed-end consumer lease, you are leasing the item(s) from a lessor and have the option to purchase the item during the course of the lease.
What are the leasing fees?
If you choose to accept a closed-end consumer lease offer, you will make a monthly lease payment.
These fees represent the amount charged by the lessor for allowing you to lease an item and will vary depending on customer approval information.
Please review your offer(s) carefully prior to completing your agreement.
What is the interest rote?
The interest rate is the amount charged, as a percentage of principal, by a merchant or lender to a customer for the ability to pay for on item over time. This is often expressed over an annual basis commonly referred to as the annual percentage rate (APR).
The system considers more than just your credit score, and your interest rate will vary based on the information you provide.
Please review your offer(s) carefully prior to completing your agreement.
Am I locked into financing for the full term?
Not at all. Whether you hovea RISC or on installment loon, you can payoff your balance at any time and there are never any prepayment penalties.
If you have a closed-end consumer lease agreement, you can exercise your early buyout option at any time.
How easy is it to apply?
Very easy! Prequalification only require basic information and you can receive a decision in seconds.
How much will I be approved for?
Depending on your application details, you can be approved for offers up to $5,000.
If I have bad credit, will I be declined?
Credova considers a broad range of credit scores in the approval process. Keep in mind, there is no hard credit inquiry, so applying won't affect your credit score.
How often are payments made?
Payments are required at minimum once o month on your scheduled due date.
Your final payment scheduled will be included in your agreement.
When will my purchase be shipped to me?
For shipping timing, tracking, and terms, please review the retailer's policies.
How much do I have to pay today?
Depending on the type of financing selected, you may be required to complete your first payment at the time of signature whereas other financing products will not require o payment for at least 30 days.
You will be told of any such payment before you agree to financing. If required, you will be able to complete your first payment at checkout.
What if I need to return my purchase?
If you need to make a return, reach out to the merchant you purchased from to determine their return policy.
Please see your agreement for more information about returns and your financing.
How do I apply?
To prequalify, select the Credova banner, or select a Prequalify Now or Learn More button on the merchant website.
If I am approved, how long is my approval good for?
Approvals are valid for 30 days.
Who can assist me if I am having trouble with my application?
If you have any questions about your financing or need assistance with your application, please reach out to Credova support at 833-273-3382.
You can also email support to [email protected].
Can I still payoff my contract early, even if I didn't receive a 3 months interest free offer?*
Yes. If you hove o RISC or on installment loon, you can pay off your balance at any time.
If you have a closed-end consumer lease agreement, you can exercise your early buyout option at any time. Either way there are no prepayment penalties.
