Can you get a sofa from DFS with bad credit? It is possible to get a sofa from DFS with bad credit, but it will be difficult. In order to get a sofa from DFS with bad credit, you will need to have a good payment history and not have any bankruptcies.
What credit agency does DFS use?
Ikano Financial Services, the retail finance specialist, is now providing consumer finance on behalf of leading UK furniture retailer, DFS. The Nottingham based company was selected to provide finance options to the customers of DFS, following a successful trial held at the retailer’s busy Northampton store.[1]
How do you know if you have been accepted for DFS credit?
You’ll get a text message letting you know that your application has been accepted.[2]
How long do DFS take to approve finance?
However, as a very rough guide, you can usually expect to have a decision within 5 working days of applying. A member of our team will contact you if there is any additional information we require for your credit check. If you have any questions, please call our central customer support team on 0333 9999 777.[3]
How long does it take to get a decision from DFS?
d) If your credit application is approved, in most cases you will be contacted within 48 hours to let you know your application has been accepted. You will then receive your finance documents either by email or post.[4]
What credit score is needed for a sofa?
What credit score do you need for furniture financing? There’s no specific score required for furniture financing. Both a 0% APR credit card and a personal loan, for instance, may require a good to excellent credit score, of 670 or above. Financing through the store may be available if your credit score is fair.[5]
What is DFS credit?
DFS refers to Dell Financial Services, which provides a revolving financing program for Dell computers and technology that’s offered by WebBank. DFS/WEBBANK may appear on your credit reports if you opened a Dell Preferred Account with Dell or were added as an authorized user on an existing account.[6]
Does sofa finance affect credit score?
You will be taking on more debt. Having multiple loans and credit accounts can affect your credit score. You are making a monthly financial commitment, which in turn will impact your disposable income. If you miss any repayments, you could negatively impact your credit score.[7]
Are DFS in financial trouble?
DFS has reported a significant slump in profits following an “operationally challenging” year and warned that the industry is facing a downturn as soaring bills mean fewer shoppers are buying sofas.[8]
What credit score is needed for rock solid funding?
Our minimum credit requirement is 550. Rates can range anywhere from 5% to 17.99%. The terms, depending on credit history and loan amount, range from 36 months to 240 months. We require at least 24 months of borrowing history on either a house, car, recreational purchase or secured loan in the past.[9]
What happens if you finance furniture and don’t pay?
If you miss even one payment, the store can repossess the furniture and you’ll lose all the money you’ve already paid on it.[10]
What finance does SCS use?
V12 is our first line finance provider and if you do not meet their eligibility requirements you can also apply for a loan with Creation Finance. Please call our online sales team on 0800 731 0048 for more information.[11]
Is sofa finance a personal loan?
A furniture loan is simply a personal loan that you use to buy furniture.[12]