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FlexShopper financing review
A modern layaway option for big purchases.
FlexShopper is an online service that allows you to lease a range of items that tend to be on the pricier side — like TVs, computers, refrigerators, mattresses, lawnmowers and more. You can order an item today and start enjoying it while you pay off the lease in regular installments.
Even if FlexShopper doesn’t have the item you’re looking for, its personal shoppers can help you find it — and potentially offer a rent-to-own deal.
FlexShopper might be right for you if…
- You are committed to paying off a lease over the course of a year.
- You have bad credit and are looking for a flexible financing option.
FlexShopper might not be a fit for you if…
- Your monthly income is less than $1,000.
- You want to pay sticker price for the item (with FlexShopper, you'll end up paying more in the long run).
FlexShopper has an A rating with the Better Business Bureau and 4.8 out of 5 stars compiled from over 1,270 reviews. Many shoppers report positive experiences with the customer service team, even thanking representatives by name. However, some negative reviews indicate mistakes with automatic billing, such as unauthorized charges to personal checking accounts. These negative reviews are few and far between, though, compared to the happy customers.
Likewise, it has a Great rating on Trustpilot, with 4 out of 5 stars compiled from over 370 reviews. The negative reviews on Trustpilot indicate difficulty getting in touch with customer service. On the flip side, FlexShopper has responded to most of those complaints with a statement urging the unhappy customer to get in touch.
How does FlexShopper work?
FlexShopper has over 80,000 items available that you can shop through its site. When you find a product you like, you can apply to lease it and get approved to spend up to $2,500 in seconds. Then, you'll complete the order and the product will be shipped to you. You can start using it as soon as it arrives at your doorstep.
Lease payments will be deducted weekly from your personal checking account until the item is paid off. If you'd rather pay on a biweekly or monthly basis, call its customer service team to update the terms of your lease.
Here's what you can buy with FlexShopper:
- Electronics. Find your favorite brands and systems from Apple, Android, Microsoft, HP, Xbox, Playstation and more.
- Furniture. From sofas to patio sets to infant gear, you’re sure to find what you need.
- Appliances. Browse hundreds of washers, dryers, refrigerators, air-conditioning units and vacuums.
- Health, fitness and sports equipment. Get the home gym equipment you’ve always dreamed of.
- Home and garden. Snag a new lawnmower, grill or home security system.
- Wheels and tires. Need new tires? Take a look at the selection of name brands.
How does FlexShopper make money?
FlexShopper makes money primarily through:
- Rental cost. FlexShopper charges you for the convenience of using a product before you've paid in full. For example, it sells a coffee table from Safdie & Co that costs $175.49 to buy from Overstock. FlexShopper will charge you $6 weekly for a year, which adds up to about $312 total. That means the rental cost of that coffee table is $136.51.
- Late fees. It'll collect a fee if you don't pay on time. The exact fee depends on your lease agreement.
What payment methods does FlexShopper accept?
When you first sign up, FlexShopper links directly with your checking account. If you'd like to pay with a credit or debit card instead, call 855-353-9289 to request the change.
Pros and cons
- Buy now, pay later. If you don’t have the funds to buy the items you want, you can pay over the course of a year to eventually own them.
- Bad credit isn’t an issue. Although not everyone is automatically approved, FlexShopper works with those who have poor credit.
- Flexible repayments. Choose to pay for your items weekly, twice a month or monthly.
- More expensive in the long run. Because you’re making smaller payments for your items over time, you'll pay more than an outright purchase. It’s how FlexShopper makes its money — by providing an affordable alternative when you don’t have immediate cash.
- No returns. You can't return the product during the lease unless it's defective. When your lease is over, the return period might be over.
Does FlexShopper check your credit?
Yes. When you apply, it'll obtain a credit report from FactorTrust, Clarity Services or both, along with one of the major credit reporting agencies, including TransUnion, Equifax and Experian.
Your credit score could be negatively impacted if you don't pay your FlexShopper lease payments or return the leased item.
Can FlexShopper help my credit?
No. Since it's not a credit card or loan, leasing an item through FlexShopper won't help build up your credit score.
Is FlexShopper safe?
How to get approved for FlexShopper
To get approved for Flexshopper, you must meet the following requirements:
- Earn at least $1,000 monthly
- Live in the US (but not NJ, MN, WI or WY)
- Be 18 years or older
- Have had a checking account for at least 90 days
- Have a Social Security number, ITIN, phone number and address
If you're ready to apply, head to Flexshopper.com and:
- Select Apply Or Sign In.
- Enter your email address, then select Continue.
- Enter your name, phone number and address, then select Continue.
- Enter your birthday, Social Security number, monthly income and pay frequency, then select Continue.
- Enter the routing and account number for your checking account, then select Submit.
After you apply, it'll tell you whether you're approved for instant spending up to $2,500. For larger purchases, it'll take more time for FlexShopper to decide about your lease terms.
What credit score do I need for FlexShopper?
FlexShopper is meant to be accessible to people who don't have a good credit score, so don't let a low credit score stop you from applying. While it isn't specific about the minimum score you'll need to be approved, its website says that "good credit is not necessary." That means it's OK to apply even if your score is less than 700, which is the minimum score considered to be good.
FlexShopper interest rates
FlexShopper doesn't charge interest rates, but the amount you'll pay over the course of the lease will likely be more than the retail price of the item. So while there isn't an APY to the lease agreement, you're paying more overall than you would if you bought the item directly from the retailer.
Shipping and returns
FlexShopper ships products only to the address on your account, but it also offers store pick-up.
Shipping and delivery
FlexShopper offers free delivery on large-ticket items that include major appliances, furniture, treadmills and home gyms, and you may pay more for extensive labor or installation. Shipping speeds vary by your location and the contents of your order.
During your initial one-year lease period, you’re not able to return any of your items. However, once you’ve made all of your payments, effectively ending your lease, you will have the option to return your items if they are in good condition.
FlexShopper customer service
Here's how to get in touch with FlexShopper's customer service team:
- Phone. Call 855-353-9289.
- Email. Send a note to firstname.lastname@example.org.
If FlexShopper isn't quite what you're looking for, check out other buy now, pay later financing options:
FlexShopper offers & promo codes
How do I use my FlexShopper promo code?
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