FAQ?

How does Acima work? 

Upon applying, Acima does a soft credit pull, which doesn't impact your credit score. However, approval is based mainly on your income and checking account history instead of credit history, so borrowers with bad or no credit may be approved. 

Does applying with Snap Finance affect your credit?

Snap always checks credit, but keep in mind that Snap's application results are not based on credit alone, and customers can be approved even if they have poor credit or no credit.

For our lease-to-own and installment loan products, Snap uses data from secondary credit reporting agencies (CRAs) like Clarity and DataX. Applying with Snap will affect your credit score with these CRAs, but is unlikely to affect your FICO score or scores from the three major credit bureaus - Experian, Equifax, and Transunion.

How does American First Finance work?

GOOD NEWS, AMERICAN FIRST FINANCE WILL HELP YOUR CREDIT BY PAYING ON TIME.*

What does “No Credit Needed” mean?

“No Credit Needed” means that you may be approved for financing or leasing without a credit score or credit history. Applicants with poor, or even no credit, may be approved, but credit is checked as part of the application process. Your credit score is not the sole consideration for qualification. You are invited to apply, no matter what your credit history is!

Does American First Finance check credit?

Yes, unless you have already applied through American First Finance within the past 30 days. When you apply for a product, American First Finance may check your credit using a hard credit inquiry (also known as a “hard credit pull”), which may influence your credit score. A hard inquiry occurs when a company with whom you have applied for reviews your credit report, history of applying for credit, payment history, and your credit score as part of their decision-making process.

How long does it take for my credit report to be updated?

American First Finance reports all payment history details to select credit reporting agencies no less than once (1) per month. This may take approximately 45 days to reflect on your credit report.

What Is a Credit Check?

A typical credit check is when American First Finance or another company views your history of credit, other accounts, and credit score with a consumer reporting agency, also known as a credit bureau.

What credit reporting agencies does American First Finance report to?

American First Finance reports to TransUnion,  Data X, Ltd., and Clarity Services, Inc.

What is A Soft Pull Report?

A soft pull, or soft credit check, is a way to pre-qualify applicants without impacting consumers' credit.

Soft pulls, unlike hard pulls, won't impact a customer's credit score because they aren't linked to a specific application for new credit.

Examples of hard credit inquiries and soft credit inquiries

The difference between a hard and soft inquiry generally boils down to whether you gave the lender permission to check your credit. If you did, it may be reported as a hard inquiry. If you didn’t, it should be reported as a soft inquiry.

Let’s look at some examples of when a hard inquiry or a soft inquiry might be placed on your credit reports. Note: The following lists are not exhaustive and should be treated as a general guide.

Common hard inquiries

• Mortgage applications

• Auto loan applications

• Credit card applications

• Student loan applications

• Personal loan applications

• Apartment rental applications

Common soft inquiries

• Checking your credit score on Credit Karma

• “Prequalified” credit card offers

• “Prequalified” insurance quotes

• Employment verification (i.e., background check)

Keep in mind, there are other types of credit checks that could show up as either a hard or soft inquiry. For example, utility, cable, internet and cellphone providers will often check your credit.

If you’re unsure how a particular inquiry will be classified, ask the company, credit card issuer or financial institution involved to distinguish whether it’s a hard or soft credit inquiry.