How Does Snap! Finance Work?

Here's how it works:

• Apply: Submit your application to start the process
• Get Approved: Receive up to $3,000
• Shop: Get what you need at a Snap Merchant

There aren't any hoops to jump through, and you don't need an established credit history to be eligible for financing.

No Credit Needed vs. No Credit Check

How exactly does No Credit Needed compare to no credit check? “No credit check” does not really exist in most financing situations. It means not only does a lender not check your credit score, but also does not make any inquiry into your history of applying for credit or making payments. Since “no credit check” is rarely, if ever, available, you should be leery of anyone who says it.

On the other hand, No Credit Needed usually means the finance company is not “pulling” or relying on your credit score, and accepts applicants with mediocre, poor, or even no credit. Finance companies, like Snap Finance’s lease-to-own financing, still review your background information for identity verification, income, and other types of information, which may be a credit check, but they don’t grade you on a third-party credit score, and sometimes don’t even review your credit reports prepared by the major credit bureaus like TransUnion®. Their inquiries may show up on credit monitoring services like CreditKarma®, but they take a more holistic view of your situation to say “yes” when traditional lenders may say “no.” Essentially the No Credit Needed approach is more welcoming for individuals with bad credit or no history at all.