History of furniture stores that offer payment plans

Furniture Credit is not a new notion. The exchange of goods or services in return for future payment has been with us since the first human civilizations. Even the process of buy now pay later! Going as far back as the Babylonians, Egyptians, Greeks and Romans, ancient civilizations used different credit, and the process of pay later shopping no credit check. From a crude form of a bill of exchange to early forms of mortgages.  Imagine the monthly payment on a pyramid. Or finding a furniture on credit arrangement for the Pharoh’s afterlife essentials? And who’d get the credit for bad credit if Tut’s Tomb ended up in foreclosure? Yikes!

The use of credit to fund trading expeditions, set up colonies and economic growth in the New World. Even transfer wealth across vast distances.  Credit is a part of history. Without it, we may not have many of our oldest and most recognized companies in existence. Perhaps not even our banks, or our financial institutions.


As credit developed into the refined modern process, so too did we develop a definition of what we’d call ‘bad credit’. Many first settlers in America had to fund their expeditions on credit, and when payments couldn’t be made, they had to re-negotiate. This sped up the process of buy now pay later no credit check no down payment. Early forms of currency in the new world could be easily counterfeited.  Payments between lenders and creditors could go unpaid for several months.  Financial crisis would hit when selling on credit went unchecked. So for as long as there’s been credit, there’s also been people and businesses getting credit with bad credit. People needed outdoor furniture for their homes back then too! 


It wasn’t until modern times that the systems in place to track and monitor bad credit came to be, formalizing a system where businesses would get credit for bad credit. Beyond the ledger book, shared information, records, and patterns established. After the financial crisis of 1837, which saw the closure of banks and thousands of businesses, the Mercantile Agency began and later to evolve into Dun & Bradstreet, a well-known corporate credit history tracking firm responsible for the first centralized credit reporting practice. 


The 20th century saw the explosive growth of personal lines of credit. Credit started with credit accounts and payment plans in department stores.  It was popular in the furniture industry, for starters. Pioneers such as Aaron RentalsBadcock Home Furniture, and others introduced lease to own furniture. Along with a program similar to the present No Deposit Necessary.  Buy now pay later catalog businesses were also early adopters, including Fingerhut and W.S. Mason (now Mason E-Z Pay, Stoneberry part of Mason Companies Inc.) and Emporium.  Personal credit cards have been around since the early 1900’s, it's true. But they were mostly limited to customers of a single bank or business.

Not until the Diner’s Club card in 1950 and American Express credit cards in 1959 that personal credit cards and financing services came. American Express cards were even the first to use plastic. Visa and Mastercard’s innovation of creating a credit card used by multiple banks and merchants exploded in popularity.  Soon there were credit cards for every major bank and most major stores, including furniture stores.  Between personal credit cards, mortgages, personal loans and now online credit services such as PayPal, personal lines of credit have gone from the boardroom to become essential to everyone’s personal lives. Catalogues to buy now pay later at companies, with no credit checks boomed. And with it, the potential of gaining negative credit for bad credit came to the personal financial front. Thus, bad credit no deposit. 

With the growth of personal credit comes bad credit. Delinquent payees disrupt their financial liquidity and shake the confidence of their creditors. For whatever reason, be it fraud, financial disaster or personal circumstances. To keep and track a consumer’s credit history and give creditors the ability to predict and decide a client’s potential for lending (and eventually paying it back), credit reporting agencies such as Equifax, TransUnion, and Experian began. This allowed banks and lenders to make a dubiously informed decision on whether or not to lend credit to their customers.

Though, the credit reporting system is not without flaws. Inconsistent reporting, solved entries that still linger in the credit report, a lack of context on the system and a confusing rating system have essentially created an overtly complex and convoluted system. People were being given credit for bad credit, deserved or otherwise.

And that is where we find ourselves today for personal credit.  One has to take out debt to gain positive lines of credit. This is good when you can pay them off. Apply for furniture creditget your furniture on credit, make your payments and add positive credit to your credit report. Bingo! Creditors look upon people favorably when your financial solvency is positive. One major reason why Buy Now Pay Later can be incredibly positive.

So it’s common for people to have a credit card and at least one form of a financial loan. Whether it is a mortgage, car loan, furniture loan, business loan or personal line of credit.  It is true that sometimes bad credit can be a legitimate reflection on a person’s credit situation. Especially for those bad apples who move on from creditor to creditor with no intention of paying back. Just because Bad Credit No Deposit exists, doesn't mean it should be taken advantage of. 

Though more often than not, when payments go delinquent it’s from honest people suffering circumstances beyond their control. Financial setbacks such as job loss, illness or injury, unexpected expenses, collections, bankruptcy and other economic hardships introduce bad credit their credit reports.  Regardless of intention or circumstance, guess who gets the credit for bad credit? The consumer. When it affects an innocent person’s ability to apply for credit, denying them the essentials for everyday living such as personal transportation, shelter, and furniture, nobody benefits. Not the businesses who can’t sell to them. Not the customer who wants a fresh start. But it is a benefit to lenders and payday loan companies such as Cashadvance.com. A further evolution of modern-day credit, but one with a hefty, high-interest price to pay. 

As it's said, "See a need, fill a need."

As long as there’s been bad credit, there have been merchants and retailers trying to reach this oft-overlooked demographic. While many customers get caught in a vicious cycle of being denied credit due to poor credit ratings. Yet try hard to establish good credit for the future.

This is where the modern rent to own furniture store comes into play.  Buy now pay later online stores such as Fingerhut, Stoneberry, Flexshopper, and Furniture7 are the wave of the future. Furniture financing online, selections from a wide range of vendors and delivery to your door; no need to visit a brick-and-mortar store!

Furniture chains such as Bob’s Discount Furniture, Badcock and others have adapted to changing times, even creating their own leasing companies such as Progressive Leasing to cater to their customers. People can get credit for bad credit but in a good way! As the industry adapts and adopts, practices grow, such as no credit check and furniture on credit to cater to customers whom earlier would be turned down. 


No longer is a personal financial disaster a death knell for your future plans, the veritable wound that prevents you from gaining a mortgage or a personal loan. There are other ways to get a loan for bad credit.  Gaining good credit for bad credit is made easy thanks to lease to own. What’s part of the history of rent to own is in its own way an essential part of the much wider history of credit picture. As it walks these stepping stones of financial evolution, furniture leasing stores and online merchants have adapted to changing conditions and continues to thrive and help its customers on the way.


*This page is only for information purposes and all information is not guaranteed to be accurate and or reliable.  We accept no responsibility for incorrect information and all viewers, readers and users of our website are encouraged to do their own research and not rely on the contained publishing.  All information was made available on the following websites:  Encyclopedia of Credit, CreditCards.com.  In no way are we affiliated with, owned or operated by the following mentioned companies: Badcock Home Furniture & More, Fingerhut, Flexshopper, Rent-A-Center, Aaron’s Inc., Bob’s Furniture, Mason Companies Inc., Cashadvance.com, Progressive Leasing, Equifax, Transunion, Experian, or any other subsidiary thereof.  

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