Who is Acima

Who is Acima Credit?

Acima Credit provides a flexible and creative alternative to traditional consumer lending. Our No-Credit-Needed lease program provides a lease option where eligibility is not based solely on credit, so you can take home what you need today.


What is Acima’s Lease-Purchase Option?

Acima’s lease-purchase program (sometimes called rental-purchase) offers an option for you to pick out the merchandise you need and take it home today. And you don’t have to make a big upfront payment or a long-term commitment.

Upon lease approval, you pick out the merchandise you want, and Acima purchases the merchandise from the participating merchant location. The property is owned by Acima and rented to you until you elect to complete all of the lease renewal payments, or use an early purchase option. After that, you own the merchandise! Alternatively, you may also terminate the lease at any time, without penalty.


What types of items can be leased through Acima?

All kinds! We lease merchandise for personal, family, or household use to consumers. Our merchandise categories include furniture & mattresses, appliances, auto wheels & tires, as well as home & mobile electronics, car audio, eyewear, power tools, jewelry, and more!


What do I need to apply?

Be 18 years old or older.

Have an active checking account with at least $1,000 of income per month.

Have at least three months of income history with your current source of income.

Have a government-issued photo ID and a social security number or ITIN.

If you’ve got all those things, great! Fill out the application and we’ll let you know within seconds if you’re approved!


How do I apply with Acima?

First, you’ll need to find a participating merchant location. You can go to www.acimacredit.com and click on “Find A Store.” Then select a category and enter your zip code to see merchant locations near you! You can click the “Apply” button to apply online, or go to the store and they’ll help you out!


How much can I get approved for by Acima?

You can be approved for leasable items valued at $500 to $5,000.


Can I use my approval at any store?

No, each approval is specific to the participating merchant location through which you apply. If you’d like to use a different location, you’ll need to re-apply. You can only have one active approval at a time, and re-applying will automatically cancel your first approval.


How long does my approval last?

Once you’re approved for a lease, the approval lasts for 90 days! If you don’t use it in that timeframe, the approval simply expires.


Do you charge an application fee?

Nope! It’s free to apply.


Who do I contact if I have a question about my lease?

Our Customer Service Department can be reached at (801) 297-1920. We also have an online chat option, which can be reached by clicking the round Chat icon in the bottom right corner of our website. Our Customer Service Department is open for calls Monday-Friday from 6:30 AM to 7:00 PM MST, and on Saturdays from 7:30 AM to 3:30 PM MST. Chat is open Monday-Friday from 7:00 AM to 9:00 PM MST and on Saturday from 7:00 AM to 7:00 PM MST.


Who owns the merchandise I am leasing?

After you pick out the merchandise and sign the lease agreement, Acima purchases the merchandise from the merchant. Acima owns the merchandise, and you’ll make rental payments for it until you obtain ownership, or terminate the lease.


How do I make payments?

Most lease renewal payments are made automatically by ACH, which automatically processes from your bank account. You can also use a credit or debit card to make payments and have those payments set up to process automatically as well.

Alternatively, you can make payments over the phone by calling Customer Service at (801) 297-1920, or by logging into your online account on www.customer.acimacredit.com.


Where can I access a copy of my Rental/Lease Purchase Agreement?

We will email you a copy of your rental/lease purchase agreement after you sign the agreement. You can also access a copy of your agreement by logging into your online account at www.customer.acimacredit.com.


Before you sign the agreement, we will text you a link so you can read through the full agreement on your smartphone. If you don’t have a smartphone, you can request that the store print you off a physical copy to read and sign.


How is leasing different from a credit transaction?

In a credit transaction, a financial institution extends funds to you or to another on your behalf, which you can then use for a purchase. If you make a purchase on credit, you borrow the money and then make payments back to the creditor, which include finance charges such as interest. On the other hand, when you enter into a lease agreement, you agree to lease merchandise from Acima. Acima then purchases the merchandise you select from a participating merchant. We don’t extend funds to you or on your behalf. You make lease renewal payments to Acima while using the merchandise, and you can use a purchase option to own the property, or terminate the lease at any time, without penalty. There is no interest, but you make lease payments based on the value of the merchandise and the cost of lease services.


Can I list multiple sources of income on my application?

We don’t require specific income information on the application, such as your employer name or address. We will just ask what your primary source of income is (i.e. full-time job), how you’re paid, and what your total monthly income is. You’re welcome to include all sources of income in the monthly total!


Will the application process impact my credit?

Your FICO score should not be impacted by applying for a lease through Acima. Our application process, however, does include a review of your consumer report, and depending on the consumer reporting agency, the inquiry may appear on your consumer report. Acima uses a soft pull when it accesses your consumer report from any of the national credit reporting agencies (Transunion, Experian, and Equifax).


What do we mean by “No Credit Needed”?

This means that you don’t need to have any consumer report history or a good credit score in order to be approved for a lease. We mean it when we say “no credit needed”! While we may receive your consumer report and credit score, we look at multiple data points in order to make a final decision, and we regularly approve customers who have little or no consumer report history or credit score.


Does Acima receive my credit score?

We may receive your credit score as part of our review of your consumer report. However, we don’t base our approval decision on just your credit score in isolation. We use proprietary technology to look at the bigger picture, and we approve many customers who have no or low credit scores.


Does Acima report to any consumer reporting agencies?

Yes. Acima reports your lease activity to Experian.


What is the difference between a “soft” and “hard” pull on my consumer report?

A “soft” pull of your consumer report is an option available from the national consumer reporting agencies (Transunion, Experian, and Equifax). On a “soft” pull the inquiry from Acima is only visible to you personally, and only if you request a copy of the consumer report from one of the national consumer reporting agencies. This is important because other users of your consumer report may consider inquiries as a negative factor in creating a credit score or in making a decision based on your consumer report. Secondary consumer reporting agencies do not provide this same “soft” pull option, and our review of your consumer report from these agencies may be shown as an inquiry. However, these inquiries should not negatively impact your consumer report or credit score at the national consumer reporting agencies.


When will my payments be/how much will my payments be?

Your renewal payments are based on the value of the merchandise you select and the cost of lease services. Once you pick out the merchandise, we will create a lease agreement based on the value of the leasable items. You can review your renewal payment amounts and frequency prior to signing the lease agreement.

The due dates of your renewal payments are based on the pay dates you enter on your application. After you make your first renewal payment, you’re able to change your payment frequency if needed.


How long is the Rental/Lease Purchase Agreement?

The minimum agreement term is the time between when you receive the leased merchandise and your first regular lease renewal payment. If you elect to make all renewal payments you will own the merchandise in 12, 18, or 24 months, based on the lease agreement you are offered.


What is the Initial Payment?

The initial payment is your first payment towards your lease! It is deducted from your total lease amount and is required to be made before you receive the merchandise. This amount varies by participating merchant location and by industry but is generally between $0 to $70.


What are my purchase options for my lease?

You can purchase the merchandise at any time after you receive it. Acima offers a 90-day early purchase option (3-month purchase option in California), which begins on the date that you receive your merchandise and expires 90 days (3 months in California) later. This option lets you purchase the merchandise for the Acima Cash Price price plus the initial payment and a small buyout fee, which varies state-to-state, but  is generally $10.

After the 90 days (3 months), you can purchase the merchandise by paying a lump sum percentage amount of whatever your remaining total lease amount is at that time. The percentage varies by state but is generally 65% of your remaining total lease amount. This lets you purchase the property before the end of the 12-24 months of lease renewal payments at a discount.

You can also elect to make all the lease renewal payments for your merchandise, and you’ll own the merchandise at the end of 12-24 months! Please keep in mind that failed or late payments may accrue fees, so see your lease agreement for a full breakdown of fees. If you elect not to purchase the merchandise through one of these options, you may terminate the lease at any time without penalty.


What if I need to change the date that my payments process?

Contact us at least 3 business days before your payment is set to process, and we’ll help you out! This goes for any payments, whether it’s an automatic payment, a one-time payment, or even a final payoff payment – we always need at least 3 business days’ notice. Once your payment starts processing, we will be unable to make any changes to it.


How is my total lease amount calculated?

Your total lease amount is calculated based on the Acima Cash Price of the merchandise and the cost of the lease services. Please keep in mind that most states require sales tax to be paid on rental payments, meaning sales tax will be applied to all payments.


Will I receive billing statements?

Acima does not automatically send billing statements either by email or physical mail. You can check your remaining balance at any time by logging into your account on www.acimacredit.com. You can also contact our Customer Service Department at (801) 297-1920 and request to have a physical copy of your statement mailed to you.