Are you looking to furnish your home but struggling with bad credit? Badcock Furniture is a popular furniture store that offers credit options to customers with less-than-perfect credit. Getting approved for Badcock Furniture credit can be challenging, but there are ways to increase your chances of approval. In this article, we'll explore five ways to get approved for Badcock Furniture credit.
What is Badcock Furniture Credit?
Badcock Furniture credit is a financing option offered by Badcock Furniture to customers who want to purchase furniture but may not have the cash upfront. The credit program allows customers to make monthly payments on their furniture purchases over a set period.
5 Ways to Get Approved for Badcock Furniture Credit
1. Check Your Credit Score
Before applying for Badcock Furniture credit, it's essential to check your credit score. Your credit score plays a significant role in determining your creditworthiness. A good credit score can increase your chances of approval, while a poor credit score can lead to rejection.
You can check your credit score for free on various websites, such as Credit Karma, Credit Sesame, or Experian. If your credit score is low, consider working on improving it before applying for Badcock Furniture credit.
2. Meet the Income Requirements
Badcock Furniture has income requirements that applicants must meet to be eligible for credit. You'll need to provide proof of income, such as pay stubs or tax returns, to demonstrate your ability to make monthly payments.
Ensure you meet the income requirements before applying for Badcock Furniture credit. If you're unsure about the income requirements, you can contact Badcock Furniture directly to inquire.
Income Requirements:
- Gross income: $1,000 per month
- Net income: $500 per month
3. Provide a Down Payment
Providing a down payment can increase your chances of approval for Badcock Furniture credit. A down payment shows that you're committed to making payments and reduces the risk for Badcock Furniture.
The down payment amount varies depending on the purchase amount and your credit score. However, a general rule of thumb is to provide 10% to 20% of the purchase amount as a down payment.
4. Consider a Co-Signer
If you have a poor credit score or limited credit history, consider having a co-signer with good credit. A co-signer can increase your chances of approval and may even qualify you for better interest rates.
However, keep in mind that a co-signer is equally responsible for making payments. If you default on payments, the co-signer will be held responsible, which can damage their credit score.
Co-Signer Requirements:
- Good credit score: 650+
- Stable income: $1,000 per month
- Credit history: 2+ years
5. Apply in Person
Applying in person at a Badcock Furniture store can increase your chances of approval. The sales associate can review your application and provide guidance on the approval process.
Additionally, applying in person allows you to ask questions and clarify any concerns you may have about the credit program.
Gallery of Badcock Furniture Credit
Frequently Asked Questions
What is the minimum credit score required for Badcock Furniture credit?
+The minimum credit score required for Badcock Furniture credit is 500.
How long does it take to get approved for Badcock Furniture credit?
+The approval process typically takes 24-48 hours.
Can I apply for Badcock Furniture credit online?
+No, you can only apply for Badcock Furniture credit in person at a Badcock Furniture store.
In conclusion, getting approved for Badcock Furniture credit requires meeting specific requirements and following the application process carefully. By checking your credit score, meeting the income requirements, providing a down payment, considering a co-signer, and applying in person, you can increase your chances of approval.