How to get a new mattress with no or low credit
“No credit needed” financing can mean a variety of things depending on the mattress retailer. This is why it’s important to understand exactly how each financing option works before you apply. Learn how you can choose and finance a mattress that fits your needs.
Key takeaways
“No credit needed” doesn’t always mean the same thing. Different mattress financing options use the term in different ways, so be sure to read the details before applying.
Applying for Snap Finance’s lease-to-own financing does not impact your FICOⓇ score.1 Apply in minutes, get a decision in seconds.
78% of consumers with credit scores below 670 have been turned down for financing.2 Snap offers a more accessible path to the mattress you want and need.
Approval amount shouldn’t drive the purchase. Focus on comfort, sleep needs, warranty coverage, and return policies – not only what you qualify for.
“No credit needed” means different things at different stores
Shopping for a new mattress that soothes your sore back or provides a good night’s sleep can be stressful – and that’s before worrying about your credit score.
According to Snap Finance research, 78% of consumers with credit scores below 670 have been turned down for financing.2 For many, those denials happen at the mattress store counter when you’ve finally found “the one.”
Mattress retailers and financing providers often advertise "no credit needed" financing – but this phrase means a variety of things depending on which mattress store you walk into. While some offer access to genuine no-credit-needed lease-to-own programs, others may impact your credit later in the process.
At Snap, “no credit needed” means all credit types are welcome to apply.1 Continue reading to learn what Snap’s no-credit-needed lease-to-own financing does and doesn’t do, and how to use it with your next mattress.
What “no credit needed” means at Snap Finance
Not all “no credit needed” financing works the same way. Here’s exactly what Snap means when we say it.
No FICOⓇ score impact when you apply1
One of shoppers’ biggest concerns when applying is whether it will hurt their credit score – and rightfully so. With Snap’s lease-to-own application, there’s no hard pull on your major credit bureau reports during the application process. Snap’s credit inquiries are with smaller credit reporting agencies. Rest easy knowing that applying for Snap does not impact your FICO score.1
If you’re unsure about the difference between a hard and soft credit check, check out this guide.
Snap pulls from secondary reporting agencies
While there’s no hard inquiry with the major bureaus tied to FICO scores, Snap may obtain information from secondary consumer reporting agencies such as Clarity and DataX. These are not the major bureaus that most consumers use to check their credit score, but it’s important to note that your score with these agencies may be impacted.
All credit types are welcome to apply1
Traditional financing usually focuses on credit scores alone, but Snap’s system is designed to see the full picture. Snap looks at more than credit scores to help those with credit challenges and limited credit histories get what they need.1
Snap Finance vs. other “no credit needed” mattress financing
Many mattress financing offers sound similar on the surface, but the approval process and costs can vary widely. Here’s how Snap’s lease-to-own financing compares to other common “no credit needed” financing options you may see online or in stores.
Soft-pull pre-approval
Some mattress stores advertise “soft-pull pre-approval” financing – an offer that sounds enticing. The catch?
Many retailers use a soft pull during the pre-approval stage but the fine print reveals that a hard inquiry with major credit bureaus will be processed once you move forward with financing.
Buy now, pay later
Buy now, pay later providers vary – a lot.
Some use soft pulls. Others use hard pulls. Some may not approve those with lower credit scores Snap’s process is designed differently: from the data we collect to the decision process that looks at more than credit scores.
Store credit cards
Whether you’re buying a tube of mascara or a new set of tires, retailers are pushing store credit cards at checkout. Mattress stores often do the same. What is often not immediately apparent is that these cards may require a hard credit pull from major credit bureaus.
Rent-to-own stores
Traditional rent-to-own stores limit shopping to their stores. With Snap, you have thousands of retailers you can shop with, rather than a separate rent-to-own warehouse with limited options.
How to get a new mattress with Snap
Getting a mattress with Snap Finance is designed to be simple and straightforward. Here’s what the process looks like – from applying online to checking out at the store or online.
1. Find a participating mattress store
Find a participating mattress retailer on Snap’s Store Locator. Snap’s Store Locator helps you browse the variety of major chains and local and regional stores that accept Snap near you or online.
2. Apply for lease-to-own financing
Applying with Snap is simple. Apply in-store or online in just minutes, receive a decision quickly, and explore payment options for your mattress purchase – all without any impact to your FICO score.1
3. If approved, check out with Snap
At checkout, the retailer will verify your approval. If you didn’t apply before you shopped, apply in-store through text-to-apply or QR code on your smartphone. Ask a sales representative for more information.
4. Sign the lease
The checkout experience with Snap closely resembles that of someone paying with a credit card or other financing. You will be presented a lease agreement that outlines total cost and payment schedule so you know exactly what to expect. Once signed, you’re ready to take home your new mattress.
What to keep in mind when financing a mattress
Getting a new mattress is a big decision. Consider the following before you sign so you can choose with confidence.
Buy to your needs, not your approval
Even if you’re approved for $2000 in financing, a $500 mattress could be the right fit for your sleep needs and budget. Some sleepers may benefit from upgraded features like cooling technology or hybrid support, but your decision should be based on your own specific comfort and lifestyle needs – not necessarily the amount you’re approved for.
Check the return policy
Most mattress retailers offer 90- to 365-day trial periods. The good news is that retailers’ policies would typically apply to Snap-financed purchases, too, but check with your retailer to confirm. Because nightly comfort is personal – what feels supportive now could feel too firm in a month – find a retailer with return policies that you feel most comfortable with.
Understand the total cost
Snap provides the total lease cost upfront so you can see the full cost of your mattress and lease before committing. Take time to compare this to what you would pay in cash. Understanding the costs ahead of time can help you make a more confident, informed decision.
Consider early ownership options
Snap’s Maximum-Term Plan is 12-18 months. Or you can choose an ownership option to help you save on overall lease costs.3
What to do after you buy
Once you’ve picked your mattress and signed the lease, a few simple steps can help you stay on track and protect your investment. Here’s what to focus on after you bring your new mattress home.
Set up autopay
Setting up automatic payments helps keep your lease in good standing. You can align payments with your paycheck schedule to stay on track with your monthly budget and help avoid missed payments.
Use a mattress protector
A mattress protector may seem like an unnecessary addition to your purchase, but can prove very important – in fact, many mattress warranties require one. Spills, stains, and accidents can void warranty coverage, so be sure to check your warranty details.
The cost for most mattress protectors varies depending on mattress size and features – but compared to replacing a damaged mattress, it’s often money well spent.
Snap’s lease-to-own financing doesn’t build credit
In line with our goal of transparency, it’s important to note that lease-to-own financing account activity with Snap is not reported to the three major credit bureaus – meaning that it won’t help build traditional credit history.
Find – and finance – your dream mattress today
A new mattress is a must – but impacting your FICO score isn’t. When you understand how “no credit needed” financing really works and what to look for before signing, the journey to your dream mattress becomes much simpler.
Snap Finance’s no-credit-needed lease-to-own financing gives mattress shoppers of all credit types a way to apply without impacting their FICO score.1 Snap empowers you to upgrade your sleep.
Ready to get a better night’s rest? Find a mattress retailer near you or apply for lease-to-own mattress financing today.
The advertised service is a lease-to-own agreement provided by Snap RTO LLC. Lease-to-own financing is not available to residents of Minnesota, New Jersey, and Wisconsin.
1 Not all applicants are approved. No credit history is required. Snap obtains information from consumer reporting agencies in connection with your application; this does not impact your FICO® Score, though other credit scores may be affected.
2 Proprietary research, “Understanding and Meeting the Needs of Consumers Facing Credit Challenges.” Snap Finance, October 2024.
3 To exercise the Initial Promotional Period option, consumers must make all scheduled payments on time and either (2) ensure the required amount is paid within the applicable timeframe through the customer portal, or (2) contact Customer Care at 1-877-557-3769 to schedule payments to ensure the required amount is paid within the applicable timeframe. The cost and duration of the Initial Promotional Period may vary based on merchant location and product.