Is Wayfair Financial? (all you must know)
While prices, sales, and deals are low, it’s easy to get huge totals at Wayfair as you keep adding items to your cart.
However, you might be wondering if Wayfair offers the opportunity to buy now and pay later, rather than put some items back (or “save for later”). Does Wayfair finance? It would definitely make sense if they did, so I’m here to give you the answer you seek!
Will Wayfair raise money in 2022?
Wayfair does offer a suite of financing and lease-to-own options, including Affirm and Citizen’s Pay in 2022, among others. Customers can spread payments over time, including in some cases, according to their payday schedule. Additionally, Wayfair has its own credit card and offers interest-free payments through Afterpay and Klarna.
To learn more about how to make monthly payments, the credit score required for Wayfair financing, more about paying with Affirm, and even more about how to use Afterpay on Wayfair, keep going!
Does Wayfair allow monthly payments?
Wayfair does allow monthly payments through its financing program, with eight possibilities for you to match.
There is an app to find out which programs you are eligible for. These programs include Affirm, Citizen’s Pay, Acima and Fortiva.
After filling out and submitting an application, the site will match you with a program that deems your information acceptable and you can review your offer.
Let’s take a closer look at Wayfair’s financing options:
- confirm: Affirm is the most widely known option, and here it allows you to pay monthly or bi-weekly (interest free!).
- Genesis Credit: Genesis works like a credit card, giving you the money you need to make a purchase and expecting you to pay it off later.
- Citizen payment: Like Genesis, if you receive an offer from Citizens Pay, you will be charged monthly.
- Fortiva Retail Credit: Another credit line option.
- Ashima: This is a lease-to-own financing plan, and you can choose from a 12-month or 18-month option.
- Progressive Lease: One of the great things about this lease-to-own program is that you can schedule payments on payday.
- Catapult: With Katapult, you’ll get a discount if you pay off the total within 90 days, and you’ll also get a discount if you pay off the full amount anytime before it’s due.
Additionally, you can apply for one of Wayfair’s two credit card options. One is the Wayfair credit card, which you can only use at Wayfair or its sister brands.
The other is the Wayfair Mastercard, which you can use anywhere Mastercard is accepted.
What credit score is required for Wayfair financing?
The credit score required to qualify for each of Wayfair’s financing programs varies by company offering the loan.
For example, with Affirm, you need a credit score of at least 640 to be considered.
For Katapult, the company works with people with no or bad credit, so they are a little more forgiving.
Acima doesn’t have a minimum credit score, and neither does Fortiva. To sum up, Wayfair works with companies with relatively loose credit scores.
So if you’re worried about qualifying, hopefully this takes some of the pressure off.
Does Wayfair provide confirmation?
Wayfair does provide financing through Affirm, although it has one of the lowest credit scores (minimum 640).
Affirm will soft-pull your credit score, which won’t hurt your credit, but actually taking a loan from Affirm does.
How do you use Afterpay with Wayfair?
If the thought of paying interest is a nuisance to you, but you’re not ready to buy all of Wayfair’s money, consider Afterpay.
Afterpay lets you pay in four instalments, two weeks apart, completely interest-free. You pay the first installment at checkout.
To use Afterpay, go to checkout and select “Change” under Payment Information.
Afterpay is the first option that pops up, you will select it and hit continue.
This will take you to Afterpay’s website where you must fill in some information before returning to Wayfair’s page.
After that, you’ll complete checkout, pay your first instalment on the spot, and receive a confirmation email from Afterpay.
One of the things I like about Afterpay is that they don’t let your upcoming payments sneak through. Instead, management will send multiple notices letting you know that the next payment is due.
Is it easy to gain credibility with Wayfair?
You can also apply for one of two Wayfair credit cards, one is easier to get than the other.
The Wayfair credit card is the easier of the two, probably because it can be used in fewer places, only Wayfair.com and its sister sites. It requires a credit score of 580.
However, the Wayfair Mastercard can be used anywhere Mastercard is accepted, so it requires a higher credit score of 650.
To learn more, you can also read our post on Amazon vs Wayfair, whether Wayfair offers military discounts, and who Wayfair uses for shipping.
in conclusion
Wayfair is in the financial business and works with eight different financial firms, many of which do not have minimum credit scores, to offer their customers options.
Additionally, customers can make interest-free payments with Afterpay or Klarna, or apply for a Wayfair credit card or a Wayfair Mastercard.
