What Rent-A-Center Payments Are

Rent-A-Center is a rent-to-own retailer where you make regular payments on furniture, appliances, electronics, and other household items instead of buying them outright. Each payment goes toward the item's purchase price, and after you complete all scheduled payments, you own it. The payment schedule, amount, and terms depend on which item you're renting and which payment plan you choose at the time you rent.

You don't need a credit card or bank loan to rent from Rent-A-Center — the company finances the agreement directly with you. Payments are typically weekly, bi-weekly, or monthly, depending on your location and the specific rental agreement you sign.

Key Takeaways

  • Rent-A-Center payments can be made in-store, online through their website, by phone, or through their mobile app.
  • You can set up automatic payments from a bank account or debit card to avoid missing a due date.
  • Late payments may result in fees and could lead to the item being picked up by Rent-A-Center.
  • Your payment history with Rent-A-Center does not report to the three major credit bureaus, so on-time payments won't build your credit score.

Payment Methods You Can Use

Rent-A-Center accepts payments through multiple channels. The most common method is paying in-store at your local Rent-A-Center location with cash or a debit card. You can walk in during business hours, give your account information or phone number, and pay the amount due.

Online payments are available through the Rent-A-Center website. You'll log into your account, view your balance and due date, and pay using a debit card or bank account. The Rent-A-Center mobile app offers the same online payment option and lets you check your account status from your phone.

You can also pay by phone by calling Rent-A-Center's customer service line. A representative will process your payment over the phone using a debit card or bank account information. Some locations may accept payments by mail, though this method is slower and carries the risk of the payment arriving after your due date.

Setting Up Automatic Payments

Automatic payments remove the need to remember your due date each week or month. To set up automatic payments, log into your Rent-A-Center account online or through the mobile app, navigate to your account settings, and select the automatic payment option. You'll provide your bank account or debit card information and choose whether you want payments to happen weekly, bi-weekly, or monthly.

Once automatic payments are active, the amount due will be withdrawn on your scheduled payment date. This method is reliable if your account has sufficient funds, but you should monitor your account to may support the payments are processing correctly. If your financial situation changes and you need to pause or adjust automatic payments, you can do so through your account settings or by contacting Rent-A-Center directly.

What Happens If You Miss a Payment

If a payment is late, Rent-A-Center typically charges a late fee. The amount varies by location and your rental agreement, so check your contract or contact the store for the specific fee. A single late payment won't when ready result in the item being picked up, but repeated missed payments will.

If you fall significantly behind — usually after two or three missed payments — Rent-A-Center may send a notice that they intend to retrieve the item. At that point, a company representative will contact you to arrange a pickup. Once the item is picked up, your rental agreement ends, and you lose any payments you've already made toward ownership.

If you're struggling to make a payment, contact your local Rent-A-Center store or call customer service before the due date. Some locations may work with you on a modified payment schedule, though this is not may provide and depends on your account history and the store's policies.

Understanding Your Rental Agreement and Payment Terms

Your rental agreement is a contract that spells out the total amount you'll pay, the payment frequency, the due date, and what happens if you miss payments. The agreement also states the item's condition and any damage waiver or protection plan you may have chosen. Read this document carefully before signing, as it governs your entire rental relationship with Rent-A-Center.

The total amount you pay over the life of the rental is typically higher than the item's retail price because it includes Rent-A-Center's financing cost. The longer the payment term, the more total interest you'll pay. Some rental agreements allow you to own the item early if you pay off the remaining balance in full, which can save you money on future payments.

How Rent-A-Center Payments Differ From Other Financing

Unlike a traditional loan or credit card, Rent-A-Center payments do not report to credit bureaus. This means on-time payments won't help your credit score, and missed payments won't hurt it — at least not directly through Rent-A-Center. However, if Rent-A-Center sends an unpaid account to a collection agency, that collection account will appear on your credit report and damage your score.

Another key difference is ownership. With a loan or credit card purchase, you own the item when ready. With Rent-A-Center, you don't own the item until you've completed all payments or paid off the remaining balance. Until then, Rent-A-Center retains ownership and can retrieve the item if you stop paying.

Rent-A-Center also doesn't require a credit check or credit history to rent. This makes it accessible to people with no credit or poor credit, but it also means the total cost is higher than buying the same item with cash or a traditional loan.

Frequently Asked Questions

Can I pay my Rent-A-Center bill early?

Yes, you can pay early without penalty. Paying early reduces the amount of future payments or can shorten your rental term. Contact your local store or log into your account online to see how early payment will affect your agreement.

What if I want to return the item before I finish paying?

You can return a rented item at any time by bringing it to your local Rent-A-Center store. Your rental agreement will end, and you'll stop making payments. However, you won't receive a refund for payments you've already made — those are considered rental fees for the time you had the item.

Do I need a bank account to make Rent-A-Center payments?

No. You can pay in cash at a Rent-A-Center store without a bank account. Online and phone payments require a debit card or bank account, but in-store cash payments are always an option.

What if I can't make a payment on time?

Contact your local Rent-A-Center store or customer service as soon as you know you'll be late. While late fees will explore, the store may discuss options with you. Waiting until after the due date passes makes it harder to work out a solution.

Can I transfer my Rent-A-Center account to another location?

Yes, you can transfer your rental agreement to a different Rent-A-Center location if you move. Contact your current store or the new location to arrange the transfer. Your payment terms and remaining balance stay the same.