How to Buy a Tablet with Bad Credit
If you rely on your tablet for everyday use like messaging friends, doing your work and watching videos, you likely want a reliable device. Some of the best tablets like the Apple iPad, Samsung Tab and Microsoft Surface help people get things done online with so many different use cases. Tablets can break for a number of reasons like a broken screen, charging port problems or the tablet does not turn on.
If your tablet has broken or become outdated and you want to get a new one, but you have bad credit, there are helpful financing plans for you.
Buying a Tablet with Bad Credit
These days, everybody is looking for mobile devices with the ability to connect to the internet and do work on-the-go. Many people started obtaining tablets as an alternative mixture of a laptop computer and a mobile phone. So much of our world is focused on quick communication and easy mobility. Tablets let you share photos and videos with your friends, play video games and download apps. Tablets give you instant access to thousands of different websites and functions within the device.
Unfortunately, tablets are very expensive to buy brand new. If you do not have much money and you are low on cash, an extension of credit or easy payment plans are the go-to option. If you have a bad credit score and you cannot qualify for a credit card, there are other financing plans to choose from. We will go through the helpful financing plans and outline how you can get a tablet on finance with bad credit.
What is a Credit Score?
Before we dive into how your credit score might affect your life, let's review what a credit score is and how it will have an impact on your financial profile. Although there are many different myths and optinions about credit, we will evaluate everything for you to make things simple. You credit score is essentially a three-digital number that ranges as low as 300 and as high as 850. The higher your number, the better health your credit score is in. People with good credit scores are able to qualify for better loans and interest rates.
If you do not have a high credit score and your score falls below 600-650, you are considered to have poor or bad credit. If you have poor or bad credit, you are at risk and might not qualify for the same types of loans that good credit can get you. Although you may qualify for some loans, you will be hit with insane interest rates.
The three big credit bureaus that report credit scores are Experian, TransUnion, and Equifax. While each bureau calculates credit score with their own algorithms and metrics, they all look at the same basic information: debt-to-income ratio, amount of revolving debt, repayment history, and more. Usually, each credit bureau has a similar evaluation and credit score for you.
How Does My Credit Score Affect My Ability to Shop?
Many cell phone providers, cable companies and lenders perform credit checks when starting a new contract. This gives them a better idea about your financial background and your ability to pay your bills on time.
What does this mean for you?
It means if you have a poor or bad credit score, you will have trouble finding good rates for yourself.
If you are trying to take out a loan to buy a tablet, you might struggle to find a good rate with decent interest rates. Lenders scrutinize people with low or bad credit scores even when they don't know the full story about the consumer. Lower credit scores can be a result of credit card fraud or loss of a job which might be completely out of your control. Regardless of your credit score, you will always need basic essentials for youe daily life. Getting denied for a financing plan can be extremely frustrating, but there are some things you can do to get approved.
The Dangers of Running a Credit Check to Buy a Tablet
Most lenders run a credit check that is considered a hard inquiry on your credit report. What this does is affect your score even more. If you have a bad credit score and want a lender to perform a hard inquiry to check if you qualify for a loan, you might be denied and further lower your credit score. Getting multiple hard inquiries can damage your credit score, dragging it down a few points each time. If you keep having these bumps in the road, you will continue to dig yourself in a bad credit situation. If you currently have a bad credit score, it's recommended to avoid damaging your score even further with hard inquiries.
How to Get Tablet Financing With Bad Credit
It is difficult to get a reasonable financing rate when you are trying to buy a new tablet with bad credit. With all things considered, you still have options. We will evaluate different options to find the best fit for you.
1. Buy the Tablet in Cash
The first way to purchase a tablet with bad credit involves buying in cash.
If you purchase your tablet in cash, the store won’t do a credit check at all. You will be able to buy your tablet with hard money and walk out of the store with no problem. That all sounds great, however, tablets are expensive and you might not have enough cash in your pocket to pay for the device up front. If you cannot buy the tablet in full, you can still take advantage of your cold hard cash and put down a deposit on your tablet. If you can come up with about half of your total purchase price, they will be more likely to offer financing plans for you. The problem with that you will still have to get a credit check for the remaining half of the payments you will owe on the tablet.
2. Enroll in Layaway Plans
Another way to purchase a tablet with bad credit involves layaway payment plans. Layaway financing is heavily relied on by many Americans, however there are many problems people face when trying to do layaway financing. Layaway financing is when you put a down payment towards your device and continue paying for your new purchase until it is entirely paid for. If you need a new tablet and use layaway financing, you will not be able to get your device for several weeks if not months.
If you already have bad credit and enroll in layaway plans, you will no longer have money on hand to pay for your basic needs. Layaway financing has traditionally been a good option for consumers, but it is recommended to think twice about enrolling. Some people have had bad experiences with layaway financing. In one case, a college student needed a new computer for her summer internship coming up. She enrolled in a layaway plan to set her up to get a new Apple iPad for the start of her internship. Unfortunately, when she walked into the department store to get her new iPad tablet, they were out of stock. After making layaway payments for four months while waitressing during her last semester at school, she was devestated when she found out the iPad tablet was out of stock. She relied on the layaway financing plan to get the device she needed in time for her first day of her internship, but she was forced to wait another week to have the item shipped to her region. This did not look good in front of the executives she was interning for.
3. Lease Tablet Financing
Lease financing plans like we offer on RTBShopper.com are helpful for people with bad credit. When you get tablet financing from us, you are not required to put down a ton of cash or run a hard inquiry on your credit score. Instead, you will be able to get pre-approved for up to $5,000 and shop for your favorite technology brands.
If you're still unsure about lease financing plans, here is a bit more information about how it works.
The first step is to pick out the product you want including the type of product, the brand name and the model you want. If you want to buy an Apple iPad tablet in black, then you have step one covered. If you are not sure what kind of tablet you want yet, you can also choose from a number of other brands. We offer Microsoft Surface financing plans that are powerful devices that can flip from a tablet into a laptop computer. Another great tablet financing program we offer is for a Samsung Tab. If you want a Samsung Tab, there are many financing plans we can offer.
Once you decide on the type of product you want, add it to your cart so you can keep track of each product you want.
Before you can checkout, you will need to figure out how to pay for your device. If you do not want to buy your new tablet in cash and you don't want to enter a layaway program, we have the right tablet financing plan for you.
The next step is to fill out our easy application with your name, email, phone number, a valid ID and you must be above 18 years old.
You will not have to run a credit check.
If you are approved, you will get a confirmation message and you will be able to pick up your tablet the same day! That's right, we work with BestBuy retailers across the nation and offer same day in-store pick up at the nearest BestBuy stores in your local area.
You will start making low monthly payments and start enjoying your new tablet device immediately! The best part about lease payment plans is that you do not have to run a credit check! This protects your credit health while you also have the ability to use your new tablet!
Buying a Tablet with Bad Credit Closing Statement
Although we all want the latest device, it is not that easy. If you have bad credit, buying a new tablet is not always a sure shot. You might have to deal with getting approved by creditors and that can furthur hurt your credit score. If you have bad credit, the best thing you can do is avoid running a credit check. This will further drag down your score. If you want to lease a new tablet, visit RTBShopper.com and find the right plan for your lifestyle.
Excited to get your tablet? Get pre-approved for up to $5,000 and get accessories for your tablet like a protective case and screen cover too!
