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Credova Review and How It Works for Financing

Credova provides financing for adventure, enabling you to defer payments while enjoying the experience that comes with different activities.

There is a growth of specialty-based financing services like Synchrony Car Care for automobile expenses which is one of the top buy now pay later for bill payments and now, Credova for fun-based adventures.

These options are becoming popular, thanks to their buy now pay later with no hard credit check hence, suitable for your bureau profile especially when you are working towards repairing your bad credit score.



Max. Amount


Credit Check



Pay in 4, Lease

Tip: Credova provides a niche buy now pay later for adventures through its Pay in 4 and lease-to-own financing options you can use to purchase items and spread the cost for up to 24 months (or 60 months at some retailers).


While Credova provides an option for bi-weekly installments of up to six weeks through its Pay-in-4 financing, it is more popular for its long-term option which mimics lease-to-own as common to Acima, Progressive Leasing, and other related services.  

While providers like Acima have limitations, especially regarding what you can use their financing to purchase and the type of merchants on their platforms, Credova tends to cater to specialty businesses for consumer financing. 


Read more about Credova

When using the Pay-in-4 option the platform provides, you will be limited to a cart value between $150 to $700 but with the benefit of zero interest within six weeks or three months depending on the retailer.

However, the rate will change when you opt for its long-term alternative called the Credova Monthly at some of the merchants that accept it.

While using this monthly payment option offers an increased value you can use for purchasing high-ticket items, you may end up paying more than twice the product price at the end of the contract because one of its options operates as a lease.

In order to enable you to save and avoid huge rental costs using its long-term financing, the platform offers stage-based buyouts including the 30-Day Satisfaction Guarantee Buyout (SGB) that will allow you to pay the exact product price if you are able to complete the full payment within 30 days of the purchase.

But if you exceed the first 30 days, you may be able to save a substantial amount on rental costs through the Early Purchase Option (EPO) it provides but the total cost at this stage will be up to or more than 75% of the original product price.

Just like every lease-to-own contract, waiting until the last month means that you will pay more than twice the original price of the item if you add all your monthly payments together.

Credova employs a soft credit inquiry to determine eligibility in addition to other factors (and not necessarily your credit score) hence, you may be eligible even without a perfect credit bureau profile for its buy now pay later financing.

How Credova Works for Shopping


Credova works by combining the features of a conventional pay-in-4 service that has no interest in six installments charged on a bi-weekly basis (or the interest-free pay in 3 months) and that of a lease-to-own as well as an installment loan which you can use to spread payments for up to 24 months (which could be up to 60 months at some merchants).

Credova App Screens

Below is a more detailed view of how the Credova financing service works:


Interest-free Pay in 4

The Pay-in-4 is Credova’s interest-free financing option and it comes in two variations depending on which merchant you are using it at for buy now pay later purchases.

One of the two allows you to spread the payments in six installments and you will be expected to pay back every two weeks.

The second option is the interest-free pay in 3 months which is the better of the two considering the length but it is only available to some merchants and also, it is not accessible to every Credova user in all 50 states.

These two Credova zero-interest financing options require a down payment which is charged at checkout through your connected repayment method before your order will be completed.

Usually, you will be allowed to access this option at checkout when the cart value is up to at least $150 and it does not exceed its maximum of $700.


Credova Long-term Financing

Many of its merchants are high-ticket product retailers hence, you may need financing aid exceeding the $700 allowed using its interest-free Pay-in-4.

Called Credova Monthly Payments, you can access up to $10, 000 with options to spread payments for up to 12, 24, and at some merchants, 60 months.

This option can be a little intriguing when going through its terms, especially given that the platform states that you may end up paying an APR between 0 to 99%.

It is worth mentioning that there is a part called the Truth in Leasing Disclosures during the long-term financing application process which explains the lease-to-own nature of the contract.

Because of the features of the Credova long-term financing, you may actually end up paying more than double the original price of the product if you see through the entire contract until the last month.

If what you want to purchase is within the price range of $150 to $700, you should consider using the interest-free Pay-in-4.

However, when you need a higher amount and prefer its long-term financing, try to use the 30-Day Satisfaction Guarantee Buyout option if possible within the first 30 days to pay no extra on top of the product price or work towards closing the contract through its early purchase option to save on rental costs.

Another thing you may need to understand is that the item is not yours in a lease-to-own agreement because it was paid for by Credova and rented to you which you can buy out through an early purchase or repay the rental costs until the last month for it to become fully yours.

Credova Interest Rates


Credova interest rates can be anywhere from 0 to more than 100% depending on the nature of your contract, whether it is a pay-in-4 installment, loan-based, or a lease-to-own contract.

Below explains how its interest rates work for consumer financing:


Interest-free Financing

You can enjoy a zero interest buy now pay later when using Credova to check out at many of its retail partners.

Interestingly, this applies to all its financing options, including the conventional pay-in-4, loan, and the lease-to-own method but based on the time of the contract.

Below are all the interest-free options available when using Credova for product financing:


Bi-weekly Pay in 4

Its bi-weekly Pay in 4 option allows customers to split their total purchase cost into four equal bi-weekly payments.

This flexible payment plan enables individuals to manage their budget more effectively by spreading out the financial commitment over a short period.

This option is especially beneficial for those who receive their income on a bi-weekly basis, aligning the payment schedule with their cash flow.


Pay in 3 Months

With the Pay in 3 Months option, Credova provides customers the opportunity to pay off their purchases in three monthly installments.

This short-term financing option offers a middle ground between immediate payment and a more extended financing period.

It suits individuals seeking a quicker repayment schedule, providing convenience and financial flexibility without the long-term commitment of traditional financing plans.


30-day Satisfaction Guarantee Buyout

Credova’s 30-day Satisfaction Guarantee Buyout is applicable to its lease-to-own option.

This feature allows customers to own the leased product outright within 30 days without incurring any interest.

It offers a risk-free trial period, ensuring that customers are satisfied with their purchase before committing to a more extended financing arrangement.


Non-Interest-free Financing

When using a Credova financing plan that comes with interest rates, it can vary depending on several factors like your credit score, the product being purchased, the retailer, and others as may be considered by the provider.

Below are the two options that offer non-interest-free financing:


Installment Loan

Credova’s loan option provides customers with a straightforward and flexible financing solution with an Annual Percentage Rate (APR) ranging from 0% to 99%.

This allows individuals to borrow the funds needed for their purchase and repay it over a specified period with the added cost of interest.

The APR is determined based on various factors, including the borrower’s creditworthiness and the loan amount.

Borrowers can choose from a variety of repayment terms that suit their financial situation, ranging from short to more extended periods.

The loan option is advantageous for customers who prefer fixed monthly payments and want to own the product outright from the beginning.

While there is a cost associated with the interest, the flexibility in repayment terms and the ability to spread the cost over time make it an attractive choice for those who need a financing solution tailored to their budget.


Credova Lease Option

Credova’s lease option allows customers to lease products with the flexibility to purchase or return them at the end of the lease term.

Unlike traditional loans, a lease does not involve taking out a loan amount; instead, customers make regular lease payments for the agreed-upon period.

The lease option is suitable for individuals who may not be ready for a long-term commitment or who prefer the flexibility to upgrade to newer products in the future.

While the lease option may not involve an explicit interest rate, there are leasing fees associated with the arrangement.

If you want to determine the equivalent interest rate for a Credova lease contract, you will need to add all monthly payments together until the last month.

When you have added them together, you will see clearly that the total cost of ownership is more than twice the original price of the product. 

You should carefully review the lease terms to understand any additional costs and the conditions for exercising the purchase option at the end of the lease term.

How Credova Lease Financing Works

Credova Lease is one of its most used financing options considering its availability to users in most states and its high purchasing power.

This option facilitates the acquisition of desired products through a user-friendly lease-to-own agreement.

Upon approval of your application, you gain access to a range of products from participating merchants. The process involves making convenient installment payments throughout the lease period.

Two primary options are available to you within this flexible framework. Firstly, you can opt for the early purchase option, granting you ownership of the product before the lease term concludes. Alternatively, you have the choice to continue making payments over the designated 12-month period.

Upon successfully completing the 12-month lease term, you achieve full ownership of the product.

Credova Lease Flow

Below is a more detailed view of the process involved when using Credova for lease-to-own financing:


Contract Application

This serves as your official request to initiate a lease agreement for a specific product.

Upon submission of your application, you will be prompted to provide personal details, including your name, address, and contact information, alongside pertinent financial information such as income details.

If you are navigating this process on the merchant’s website during checkout, the form is designed to be self-explanatory, guiding you through each necessary step seamlessly.

Within the form, you will be asked to input information such as your name, employer details, valid photo ID, bank details, Social Security Number, address, and contact information.

Once all the required information is provided, a simple click on the submit button will send the details to Credova.

Post-submission, you will receive a One-Time Password (OTP) for authentication. Input this OTP on the validation page to smoothly advance through the process.


The Decision Stage

In this phase, the decision-making process is fully automated, utilizing the information gathered in the initial stage for a rapid assessment of your application.

Typically, within just a few minutes, a decision is reached regarding your application.

Here is a detailed breakdown of the automated process:

  • Soft Credit Inquiry: Credova performs a soft credit check, also referred to as a soft pull or inquiry. Importantly, this check is solely for informational purposes and does not impact your credit score.


  • Decision on Purchasing Power: The result of the soft credit inquiry is employed to evaluate your purchasing power, determining your spending limit. This step ensures a thorough analysis of whether you can realistically meet the financial obligations of repaying the lease costs over the contracted period.


  • Decision on Contract: Taking into account various determining factors, a final decision is made. This decision will either grant approval for acquiring the product or unfortunately result in the decline of your application.


It is crucial to highlight that the Credova option does not rely exclusively on your credit score for approval.

Even with a less-than-ideal credit standing, you may still qualify for their lease-to-own financing based on a comprehensive assessment that considers various factors, enhancing accessibility and inclusivity in their financing approach.


Product Delivery

Upon approval of your application, the product will be promptly delivered to you, although ownership remains pending until the successful processing of the initial payment.

During this stage, Credova acts as an intermediary, acquiring the item from the merchant on your behalf and opting to lease it to you.

Upon receiving the item, it is in your possession under a rental agreement, necessitating careful handling until the full payment is completed or the contract is concluded through an early purchase option.

This interim rental term ensures that you can enjoy and utilize the product while maintaining a commitment to responsible care until the finalization of the payment or the exercise of the early purchase offer.


Lease Repayment Stage

Once you start the contract, it is up to you to keep making the payments for the leased product.

Remember, you pay back Credova, not the store where you got the item as it has already paid the full cost to the store before you got the product.

Your job is to make regular payments, like weekly, bi-weekly, or monthly, depending on what you chose when you applied.

This way, you have flexibility in how often you pay. Just keep in mind that your payments go to Credova, making it straightforward and clear who you are dealing with throughout the process.


Satisfaction Guarantee Buyout

The Credova Satisfaction Guarantee Buyout is a feature within their lease-to-own financing option that provides customers with added flexibility and assurance.

Here is how it typically works:

When you choose to lease a product through Credova, you have the option to buy out the lease early within a specified period, often 30 days.

This means that if, within this timeframe, you decide that you want to own the product outright, you can do so by paying the remaining balance without any extra charge.

It is the perfect period within the contract to save more than 100% which could go into full-term rental costs hence, work towards utilizing this when using its lease-to-own option.


Credova Early Purchase Option

The Credova Early Purchase Option comes into play after the Satisfaction Guarantee Buyout period.

Users opting for this feature have the opportunity to own the leased product before completing the full payment term and save some funds on rentals.

To exercise the Early Purchase Option, customers need to pay a minimum of 75% or more of all remaining payments that have not yet come due.

In essence, this provides a pathway after the first 30 days for individuals who wish to accelerate their ownership of the product by settling a significant portion of the remaining payments ahead of schedule.


End of Lease

The End of Lease marks the conclusion of the lease agreement, typically occurring at the end of the 12th month.

This signifies that the agreed-upon leasing period has reached its full term, and the customer has fulfilled the terms of the contract.

At this juncture, customers often have the opportunity to exercise full ownership of the leased product if they have no pending repayments.

They may choose to make a final payment, which is a nominal amount or the remaining balance, to acquire permanent ownership.

At this stage, the accumulated monthly payment is more than twice the original cost of the item if you were to buy it outright from the merchant.

Frequently Asked Questions on Credova Financing


Here are some frequently asked questions regarding the use of Credova for buy now pay later shopping:


What is Credova?

Credova is a platform that offers a range of financing options, including lease-to-own programs and other point-of-sale financing solutions.

The platform collaborates with merchants to offer financing solutions directly at the point of sale, allowing customers to make purchases and spread the cost over time through payment plan arrangements.

Does Credova check credit?

Yes, Credova conducts a credit check as part of the financing application process.

It is essential to note, however, that the initial credit check conducted by Credova is categorized as a soft inquiry.

A soft inquiry, often referred to as a soft pull, is a credit check type that does not exert any influence on the customer’s credit score.

Throughout the application process, this soft credit inquiry is employed by the platform to evaluate the customer’s creditworthiness and determine an appropriate credit limit or purchasing power.

The primary purpose behind this soft inquiry is to gain insights into the customer’s financial situation without leaving a lasting impact on their credit score.

It is crucial to differentiate this soft inquiry from a hard inquiry (hard pull), which is a more comprehensive credit check typically associated with applications for financial products such as mortgages or credit cards.

Unlike hard inquiries, soft inquiries have minimal, if any, effect on the customer’s credit score.

What is the credit score for Credova?

Credova does not publicly disclose the specific credit score needed to qualify for its financing options. Like other buy now pay later services, the platform evaluates customers’ creditworthiness through a credit check during the application process.

Typically, this credit check is a soft inquiry, causing minimal impact on the customer’s credit score.

Despite being known for its flexible approach compared to traditional credit providers and its ability to accommodate individuals with diverse credit profiles, it is crucial to recognize that approval criteria, credit limits, and terms may vary based on individual circumstances.

What is Credova’s interest rate?

Interest rates for Credova financing options are variable, with the specific rate assigned to an individual’s account influenced by several factors, notably the chosen financing type and plan.

This information is typically communicated during the application process, following a soft credit inquiry.

While Credova provides interest-free financing for certain plans such as Pay-in-4, Pay 3 Months, and the 30-Day Satisfaction Guarantee Buyout, it is important to note that for long-term financing, variable interest rates apply.

The Annual Percentage Rate (APR) can fluctuate and generally falls within the range of 0% to 99%, based on the individual’s selected financing type and other considerations by the platform.

This variability underscores the importance of reviewing the specific terms provided during the application to understand the applicable interest rates and terms based on the chosen financing arrangement.

Is Credova legit?

Yes, Credova is a legitimate platform that allows users to buy products from its extensive network of merchants through flexible installments.

It provides different payment plan options including interest-free short-term financing and the variable APR long-term alternative for high-ticket product purchases.

What is the maximum credit amount offered by Credova?

The maximum amount you can be approved for when using the Credova option for financing varies depending on your selection, plan term, the merchant, state of residence, and other factors determined by Credova.

While the Pay-in-4 has a limit of $700, the maximum credit you can access when you opt for long-term financing is up to $10,000 but note that your assigned purchasing power will be based on your creditworthiness.

Does Credova have a virtual card?

Yes, it has a virtual card feature that you can utilize for financing by generating a single-use card when you are logged into your app.

However, the features are limited and you may not be able to use it at some merchants due to restrictions that come with it.

Nevertheless, you may consider other buy now pay later virtual cards provided by other top spread payment providers.

Can I pay off Credova early?

Yes, you have the flexibility to make your Credova payments in advance without facing any penalties.

You can enjoy significant savings through timely payments of pending balances. Its lease-to-own for instance offers both a 30-day same as cash and an alternative early purchase option to enable you to avoid paying so much on rentals.

Is Credova Good and Worth It?

Considering that it offers a significant amount you can use to purchase products and spread the payments without paying extra in interest for a certain period, it is a good option worth considering when you can pay back before or by the last day within the zero-interest window.

However, note that it could be very expensive when using the lease-to-own option because, in the 12th month, the total payments will be able to purchase at least two of the products leased.

Is Credova a lease?

The platform can be a lease as well as a conventional buy now pay later service provider depending on which of its financing is selected.

It provides a lease-to-own option, pay-in-4 (six weeks installments) financing, as well as a long-term option you can use to enjoy split payment for up to 24 months or 60 months at some merchants.

Where can I get more details about Credova?

To get more details regarding how its financing works, you can visit its website or contact its service center for more clarifications regarding the platform’s offerings.


Credova’s flexibility is evident in interest-free financing plans for specific durations, such as Pay-in-4 and Pay 3 Months.

However, for longer-term financing, variable interest rates, typically falling within the range of 0% to 99%, come into play. There is also the possibility to pay higher rental costs when using its lease option.

It remains crucial for you to review the specific terms and conditions provided during the application process, ensuring a clear understanding of your chosen financing plan before proceeding.

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