Credova FAQ
YOUR QUESTIONS ANSWERED
How does 90 day interest free financing work?
It’s simple, pay off your principal within the 90-day 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 or are late, you no longer qualify for the promotion.
Are all financing approvals 90 day interest free?
Not all financing approvals are 90 days interest free. If you are approved for a 90 day interest free offer, your approval page will clearly indicate as such. If you have any questions whether or not you are approved for a 90 day interest free offer, please feel free to reach out to credova support to discuss.
What if I don’t pay off my balance in 90 days?
If you’re unable to pay off your contract within the 90 day period, you’ll be responsible for the full terms and conditions of your contract. This means, you will have to pay any and all incurred interest.
Can I still payoff my contract early, even if it’s past 90 days?
You can buyout of your contract at any time. If you’d like to payoff your contract early, but it’s past the 90 days of promotional financing, then you’ll pay interest up until the point at which you payoff the remainder of your principal. You will not be responsible for future months interest charges after your buyout.
How easy is it to apply?
Very easy! Online applications only require basic information and you can receive an approval in seconds.
How much will I be approved for?
Depending on your application details, we can approve you between $300 and $5,000
If I have bad credit, will I be declined?
Even if you have bad credit, that’s ok. Credova considers all credit types in the approval process and some financing providers accept bad credit, it entirely depends on the financing provider. Keep in mind, there is no hard credit inquiry, so applying won’t affect your credit.
What type of financing is offered?
Credova is partnered with a network of financing options that offer retail installment sales contracts (riscs) and/or closed-end consumer lease agreements.
What is the difference between a RISC and a closed-end consumer lease agreement?
What are the leasing fees?
If you choose to finance with a company offering a closed-end consumer lease, with each monthly payment, you will pay leasing fees. These fees represent the premium 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 rate?
The interest rate is the amount charged, as a percentage of principal, by a retailer to a customer for the ability to pay for an item over time. This is often expressed over an annual basis commonly referred to as the annual percentage rate (APR). With a risc, the system considers more than just your credit and your interest rate will vary based on the information provided. 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 are using a risc or closed-end consumer lease, you can payoff your balance at anytime and there are never any prepayment penalties!
What information do I need to apply?
- Open/active checking or savings account
- Government issue photo id
- Email address
- Social security number
- Income/employment information
- Phone number and address
How often are payments made?
Payments are made on a monthly basis.
When will my purchase be shipped to me?
For shipping timing and tracking, 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 a payment for at least 30 days. 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, please reach out to the retailer you purchased from to determine their return policy.
How do I apply?
To apply, select the credova banner or select a prequalify or learn more button on the retailers website. You can also visit www.credova.com and select the prequalify button in the top right corner. Select your preferred retailer during the application process.
If I am approved, how long is my approval good for?
Pre-qualification approvals are good for 30 days while full approvals are good for 60 days.
If I am having trouble with my application, who can help?
If you have any questions about your financing or need assistance with your application, please reach out to credova support at 833-273-3682. You can also email support at info @credova.com or visit the Credova website at www.credova.com and select the chat feature from the homepage.