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9 Best Options for Computer Financing With Bad Credit

27 min.

If you have bad credit but need a new computer, it can be difficult to find a financing option that works for you. Fortunately, there are several options available that cater to those who may have had financial struggles in the past.

9 Best Options for Computer Financing With Bad Credit

This article will explore the nine best options for computer financing with bad credit, including traditional financing options, rent-to-own plans, and other alternatives. Whether you need a laptop for school or a desktop computer for work, there is a financing option out there that can fit your needs and budget.

Can I Finance a Computer With Bad Credit?

Financing a computer with bad credit is possible, but it may come with some challenges. Many retailers offer financing plans for people who need to purchase a computer, even if they have bad credit. However, the terms of the financing can be much different than they are for people with good credit.

One option for financing a computer with bad credit is to look for retailers that offer lease-to-own financing plans. These plans may require a down payment and can have high interest rates, but they can be a way to get the computer you need while rebuilding your credit.

Another option is to finance the computer with a credit card. There are credit cards available for people with bad credit, but the interest rates and fees can be high. Read the terms of the credit card carefully to understand the true cost of financing the computer.

If you cannot get approved for financing from a retailer or credit card company, you may need to consider other options. One option is to save up the money to purchase the computer outright. This can take some time, but it can be a way to avoid high interest rates and fees.

Another option is to look for a guarantor who can co-sign the financing application. This person would be responsible for the debt if you are unable to pay it, so have a frank conversation with them about what this entails.

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How Does Computer Financing Work?

Computer financing works much the same as other types of financing. It involves acquiring a computer through a financing program and paying for it over a set period of time with interest added. Generally, computer financing programs are offered by manufacturers or third-party financing companies and are available for both personal and commercial use.

  1. Choosing the type of financing plan. Some financing plans allow customers to pay the cost of the computer over a period of time without paying interest, while others stipulate that interest is added to the final cost of the computer. Personal financing options typically involve using a credit card or taking out a personal loan for a computer. Business financing options can be more diverse, from leasing plans to lines of credit.

  2. Select the computer you want to purchase. In most cases, the financing company will require information such as the buyer's employment status, income, and credit history to approve the loan application. Buyers with poor credit scores may face higher interest rates or the requirement of a co-signer to secure the loan.

  3. Make payments. Once the loan is approved, the buyer receives the computer and begins making the minimum monthly payments required in the financing agreement. Payments can be made on a monthly or bi-weekly basis, depending on the terms of the loan. Late payments may result in additional fees or interest charges.

At the end of the financing term, the buyer will have paid off the loan and fully own the computer. Some financing plans allow for an early payoff without penalty, while others may charge a fee for an early payoff.

Top 9 Lenders for Computer Financing With Bad Credit

If you have bad credit, it may be challenging to find affordable computer financing options. However, there are lenders out there who specialize in computer financing for individuals with less-than-perfect credit. Below are the top nine lenders for computer financing with bad credit in the USA:


MoneyMutual is a lending service that connects borrowers with bad credit to various lenders who might be able to offer them a loan. The process begins with potential borrowers submitting a loan request form on the MoneyMutual website. Typically, borrowers can apply for loan amounts ranging from $100 to $5,000 through the MoneyMutual platform.

Once the form is submitted, MoneyMutual's network of lenders reviews it and evaluates the borrower's creditworthiness. If a borrower is approved, they may receive an offer from one of the participating lenders for a loan. The loan terms and conditions vary according to the individual lender.

MoneyMutual does not make loans itself, and borrowers need to remember that interest rates on loans for individuals with bad credit may be much higher than those for individuals with good credit.

24/7 Lending Group

24/7 Lending Group is a lending institution that caters to individuals with bad credit. They offer a wide range of loans, including personal loans and payday loans, with flexible repayment terms and competitive interest rates.

The application process is entirely online, and individuals can apply from the comfort of their homes. The lending institution has a quick approval process, with most loans being approved and disbursed to your bank account within 24 hours. One drawback of using 24/7 Lending Group is that their interest rates tend to be on the higher side compared to traditional banks.

The maximum loan amount you can get is $35,000, while the minimum amount is $1,000. The loan amount is based on several factors, such as your credit history, income, and other financial information.


CashUSA is an online marketplace that offers personal loans to individuals with bad credit. The company aims to connect borrowers with lenders who are able to provide loans despite poor credit scores, thereby making it easier for those with bad credit to access the funding they need.

To qualify for a loan, borrowers must be at least 18 years old, have a valid email address and phone number, and have a regular source of income.

The loan amount can range from $500 to $10,000, with repayment terms from three months to 72 months, depending on the lender. CashUSA offers a quick and easy application process, and borrowers can receive lenders' funds as soon as the next business day.


CreditLoan for bad credit is a loan that is designed specifically for people who have poor credit score. A CreditLoan for bad credit aims to bridge this gap by providing loans that are accessible to people with poor credit histories. Online personal loans are available from $250 to $40,000.

However, as these loans carry a higher risk for lenders, they usually come with higher interest rates and stricter terms than traditional loans.

The process is simple and straightforward - users can fill out an online application to get started. CreditLoan works with a network of reputable lenders who offer competitive rates and terms.


BadCreditLoans is a widely recognized lending platform offering loans to individuals with poor credit. The platform connects borrowers with multiple lenders, increasing the chances of approval for a loan, regardless of the borrower's credit situation.

BadCreditLoans' network of lenders offers various loan options, including personal loans, business loans, auto loans, and even payday loans. BadCreditLoans offers loans ranging from $500 to $10,000. The loan amount and terms will depend on several factors, including the borrower's credit score, income, and ability to repay the loan.

Applying for a loan with BadCreditLoans is simple and can be done online. The platform's eligibility requirements are lenient, and borrowers can access funds quickly in as little as one business day. BadCreditLoans is a viable option for people with poor credit looking for quick loan approvals without going through the traditional bank loan application process, which is often time-consuming and restrictive.

While the interest rates for loans offered to those with poor credit are likely to be higher than what is offered to those with good credit, BadCreditLoans can help individuals access the funds they need when they need them most.


Zebit is an online platform that offers a credit facility to individuals with bad credit. Unlike traditional lenders, Zebit does not require a credit check or a FICO score to grant loans.

The platform enables borrowers to access credit without worrying about their credit history. Instead of focusing on credit history, Zebit assesses a borrower's ability to repay the loan in a timely manner.

Borrowers can obtain loans ranging from $250 to $1,500, with a repayment period of 3 to 18 months. The platform also offers a unique feature called Zebit Market, which enables individuals to make purchases using the credit facility. Zebit provides an alternative for individuals with bad credit to access credit and increase their financial options


FlexShopper is an online retailer that offers lease-to-own options for individuals who have bad credit. They offer a variety of products such as electronics, furniture, and appliances, which can be leased for an agreed-upon period of time. There are over 140,000 products from electronic, furniture, and appliance brands at an affordable weekly price.

FlexShopper has a relatively easy and quick approval process, which makes it an attractive option for those who have struggled to obtain credit in the past. However, the company's lease agreements come with relatively high interest rates and fees, which could result in customers paying significantly more than the actual value of the product they're leasing. Additionally, customers who fail to make their payments on time could face additional fees and penalties.

Best Buy Progressive Leasing

Best Buy offers a leasing program in partnership with Progressive Leasing that may be a good option for those with bad credit. The program allows customers to lease electronic and home appliances without having to pay the full amount upfront.

Customers pay a fixed lease amount every month until they own the item or choose to return it. Progressive Leasing is known for providing leasing options to people with less-than-perfect credit, making it a popular choice for those who may not be able to secure traditional financing. However, note that the program may come with higher fees and interest rates compared to traditional financing options.

For example, if you signed a lease for a $1,000 computer and agreed to make payments every two weeks, your biweekly payment would be $77.41 for 12 months.

Montgomery Ward

Montgomery Ward is an online retail store that offers a buy-now-pay-later option for customers with bad credit or no credit. This means that customers can make purchases now and pay them off later in smaller installments.

Customers can apply for credit through the Montgomery Ward website and, if approved, can begin shopping immediately. That this option may come with higher interest rates and fees, so it is important to carefully read and understand the terms of the program before applying.

There are various financing options available for customers with bad credit who wish to purchase a computer or other electronic devices. However, credit scores and other factors may affect eligibility for financing programs, and it is essential to do thorough research before making a final decision.

Can a Credit Union Help me Finance a Computer?

A credit union may be able to help you finance a computer. Credit unions are financial cooperatives that offer a range of financial products and services, including personal loans that can be used to finance a computer purchase.

The process of getting a loan from a credit union is similar to obtaining a loan from a bank. You will need to fill out a loan application form and provide some personal and financial information. Credit unions generally offer lower interest rates and fees compared to traditional banks, making them an attractive option for consumers looking to borrow money.

One advantage of borrowing from a credit union is that credit unions are member-owned and are, therefore, more likely to work with you to find a loan product that meets your needs. This means that credit unions can be particularly helpful for consumers with poor credit who may struggle to qualify for loans from traditional banks.

To find a credit union that can help you finance a computer in the USA, start by searching online for credit unions in your area. You can also ask family and friends for recommendations or contact a national credit union organization for guidance.

Before applying for a loan, be sure to research the interest rates, fees, and repayment terms offered by different credit unions to find the best option for your needs. You may also want to consider working with a financial advisor to help you understand your borrowing options and create a monthly payment plan that works for your budget.

Does Financing a Computer Build Credit?

Financing a computer may or may not help build credit, depending on how the financing is structured and reported to the credit bureaus.

If the financing is done through a retailer, such as Best Buy, and is reported to the credit bureaus as a credit account, then making timely payments on the computer financing can help build credit. This is similar to financing a car or other larger purchase, where the payment history is reported to credit bureaus and can help establish a credit history.

On the other hand, if the financing is done through a personal loan or credit card specifically used for the computer purchase, then the impact on credit may not be as significant. Personal loans and credit cards typically have higher interest rates than in-store financing options and may not report the purchase directly to the credit bureaus. It is also possible for this type of financing to result in additional debt and missed payments, which can hurt credit.

Building credit is not just about one purchase but rather establishing a consistent payment history over time. Applying for multiple financing options within a short period of time can also have a negative impact on credit, as it can signal to lenders that an individual may be taking on too much debt.

In summary, financing a computer can potentially help build credit if done through a retailer and reported to the credit bureaus. However, consider the terms of the financing, the impact on overall debt, and the need to establish a consistent payment history over time in order to effectively build credit.


Can I finance a laptop with no credit?

It may be difficult to finance a laptop with no credit. Most lenders or financing companies require a credit history to assess your creditworthiness and ability to repay the loan. However, there are some options available, like leasing programs, rent-to-own, or secured loans, which may not require a credit check. You may also consider applying for a credit card or a personal loan to build your credit before applying for laptop financing.

Can I use a personal loan to buy a PC?

Yes, you can use a personal loan to buy a PC in the USA. Personal loans can be used for various purposes, including making purchases like buying a computer. However, before applying for a personal loan, you should compare the interest rates and terms of different lenders to ensure you get the best deal. You should also make a budget to ensure you can afford the loan payments and pay them back on time.

What is a personal computer loan?

A personal computer loan in the USA is a type of loan specifically meant to finance the purchase of a personal computer. It is generally an unsecured loan, meaning that the borrower doesn't have to provide collateral for the loan. The loan can be used to buy a desktop computer, laptop, or other similar devices. Borrowers can apply for a personal computer loan through a traditional bank, credit union, or online lender. The loan amount and annual percentage rate will depend on the borrower's creditworthiness, income, and other financial factors.

Can you take a loan to buy a computer for school?

Yes, you can take out a loan to buy a computer for school in the USA. Many lenders offer student loans specifically for the purpose of paying for educational expenses, including the cost of computers and other necessary equipment. However, you need to carefully consider your options and make sure you understand the terms and conditions of any loan you're considering. Be sure to shop around and compare interest rates, repayment terms, and other factors to find the loan that best fits your needs and budget.
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