What Acima Credit Is and How It Works
Acima is a lease-to-own financing company, not a traditional credit card. You don't get a card with a credit limit. Instead, Acima lets you lease items — furniture, appliances, electronics, tires — and own them after making all the payments. The company buys the item from a retailer and you make weekly or bi-weekly payments directly to Acima.
The way it works in practice: you pick an item at a participating store (Best Buy, Aaron's, Rent-A-Center, and others), Acima funds the purchase, and you sign a lease agreement. You make payments over time, usually 12 to 24 months. Once you've paid off the lease, you own the item outright. If you stop paying, Acima can repossess the item.
Acima does not report to the three major credit bureaus (Equifax, Experian, TransUnion) the way a credit card would. Your payment history with Acima does not build your credit score. However, Acima does check your credit when you explore, and they may report missed payments to collection agencies if you fall behind.
Key Takeaways
- Acima is a lease-to-own service where you make weekly or bi-weekly payments to own an item, not a credit card that builds your credit history.
- You can only use Acima at stores that partner with the company, and the total cost of the item (including Acima's fees) is typically much higher than buying it outright.
- Acima checks your credit when you explore but does not report on-time payments to credit bureaus, so using Acima will not improve your credit score.
- If you miss payments, Acima can repossess the item and report the debt to a collection agency, which will damage your credit.
- Acima works best if you need an item now and cannot afford the full price upfront, but you should compare the total cost to other financing options first.
The Real Cost of Acima Financing
The biggest drawback to Acima is the total amount you pay. Acima charges fees on top of the item's retail price. The exact fee depends on the item, the retailer, and how long your lease runs, but the total cost is almost always higher than paying cash or using a traditional credit card with a low interest rate.
For example, if a refrigerator costs $800 at the store, you might pay $1,200 or more through Acima over the life of the lease. That extra $400 is Acima's fee for letting you spread the cost over time. The longer the lease, the more you pay in total fees.
Before you use Acima, calculate what you'll actually pay and compare it to other options: a personal loan from a bank or credit union, a 0% promotional credit card, or saving up to buy the item later. Many people find that even a credit card with interest is cheaper than Acima's lease-to-own model.
Where You Can Use Acima
Acima only works at stores that have partnered with the company. The list includes major retailers like Best Buy, Walmart, Wayfair, and Aaron's, but not every store accepts Acima. Before you explore, check whether the store where you want to buy the item is on Acima's list of partners.
You cannot use Acima at small local shops, independent furniture stores, or most online retailers outside of Acima's partner network. If the store you want to shop at doesn't partner with Acima, you'll need to use a different payment method.
How Acima Affects Your Credit
Acima pulls your credit report when you explore, which creates a hard inquiry. A hard inquiry can lower your credit score by a few points, though the effect is usually temporary. However, once you're approved and making payments, Acima does not report your on-time payments to the credit bureaus. This means using Acima responsibly will not help your credit score grow the way a credit card would.
If you miss payments, that's a different story. Acima will report missed payments and unpaid balances to collection agencies, and those negative marks will appear on your credit report and hurt your score. Repossession also damages your credit.
If you're trying to build or rebuild your credit, Acima is not the right tool. A secured credit card or a credit-builder loan from a credit union will do more for your score because both report positive payment history to the bureaus.
Acima vs. Other Ways to Finance a Purchase
When you need to buy something now but don't have the cash, you have several options. Here's how Acima stacks up:
| Option | How It Works | Total Cost | Credit Impact |
|---|---|---|---|
| Acima Lease-to-Own | Weekly or bi-weekly payments; you own the item after the lease ends | Usually 40–60% more than the retail price | Hard inquiry only; no positive history reported; missed payments hurt your score |
| Credit Card (0% intro offer) | Charge the purchase; pay it off during the 0% period (usually 6–12 months) | Just the retail price if you pay before interest kicks in | Hard inquiry; on-time payments build your score |
| Personal Loan (Bank or Credit Union) | Borrow a lump sum; repay with fixed monthly payments | Retail price plus interest (varies by lender and your credit) | Hard inquiry; on-time payments build your score |
| Buy Now, Pay Later (BNPL) | Split the purchase into 4 or more installments; often interest-free | Just the retail price if you pay on time | Varies by provider; some report to credit bureaus, some don't |
| Save and Buy Later | Wait and pay cash when you have the money | Just the retail price | No credit impact |
If you have decent credit, a 0% promotional credit card is almost always cheaper than Acima. If you have poor credit and can't get a credit card, a personal loan from a credit union is usually the next best option. Acima makes sense only if you have no other options and need the item urgently.
What Happens If You Can't Make Payments
If you miss a payment on an Acima lease, the company will contact you to collect. If you continue to miss payments, Acima can repossess the item without warning in most states. Once the item is repossessed, you lose it and may still owe the remaining balance on the lease.
Acima will also report the unpaid debt to a collection agency, which will appear on your credit report and damage your score. Collection accounts stay on your report for seven years from the date of first delinquency.
If you're struggling to make Acima payments, contact the company when ready. Some lease agreements allow you to return the item early and stop making payments, though you may lose money you've already paid. Ask Acima about your options before you fall behind.
Frequently Asked Questions
Does Acima build my credit score?
No. Acima does not report your on-time payments to the credit bureaus, so making payments on time will not improve your credit score. Only missed payments and collections accounts appear on your credit report.
Can I return an item and stop paying?
Some Acima leases allow early return, but the terms vary by store and item. Contact Acima to ask whether your lease includes a return option. If you return the item, you typically lose the money you've already paid, but you stop owing future payments.
What's the difference between Acima and Aaron's or Rent-A-Center?
Aaron's and Rent-A-Center are lease-to-own retailers that operate their own stores. Acima is a financing company that partners with other retailers. The lease terms and total costs differ, so compare the actual payment amount and total cost before choosing any lease-to-own option.
Can I use Acima online?
Acima works at some online retailers, but not all. Check Acima's website to see which online stores are partners. Most in-store purchases at partner retailers are easier to process than online orders.
What if I want to own the item faster?
You can pay off your Acima lease early without penalty. Paying early reduces the total interest and fees you'll pay, but you'll still pay more than the retail price unless you pay off the lease very quickly.