What Credit Score is Needed for Dell Financing?

January 23rd, 2012 | Author:

There are times when many of us find ourselves needing, without the capital to purchase said item outright. Take, for example, the loss of a home computer. Most of us cannot live without our computers, but these are one of the more expensive items we buy for ourselves. Many people look towards financing options to help them make large purchases such as a new computer or laptop.

Dell is one of the top leading computer companies, providing high quality computers at affordable prices. Being able to build your own computer, as Dell also offers, is a very attractive options for some as well. Dell offers financing options for qualified applicants, but what does it take to qualify for a line of credit from Dell? You will need to know the minimum credit score for Dell financing as well as understanding the terms of the line of credit you might qualify for.

Dell’s Financing Basics

Dell offers 60-second approval for lines of credit, but it is important to know before you apply, as the number of rejected credit applications you have on your credit report can negatively impact your ability to qualify for future lines of credit. As with all lines of credit, your credit score for Dell financing is the most important factor as to whether you will be approved or denied a line of credit.

There are three main credit reporting bureaus, all with their own calculation methods. For Dell financing, your FICO (combined score) or Experian score are generally what is used to determine whether or not you qualify or not. Dell approves those with a range of credit scores, but those with lower scores will be given smaller lines of credit at higher interest rates. It is thought that a Dell card is best for those with higher credit scores, as there are great benefits for those with great credit, whereas there may be better options for those with poor credit.

A solid financial standing, with a FICO score of at least 656 is recommended in order to qualify for this line of credit, but scores lower than that have been approved in certain circumstances. Experian scores in the lower 600s have been approved, but the limits are lower and the maximum interest rates are charged. Those with mid-600s scores, and especially those with Experian scores of 700 or higher are more likely to qualify for Dell financing, and also obtain this line of credit at a decent interest rate.

Obtaining financing from Dell requires a solid financial standing and a fair credit score. Those who are on the lower end of the approved credit score spectrum are likely to be charged the higher interest rates and be given lower limits on their cards, but this is a great way to finance a large purchase, especially for those who have excellent credit. Dell offers great terms for those with exceptional credit, offering low interest rates, no annual fees, and more.

Newest Answers

Get a Better Credit Score in 2017

January 22nd, 2018 | Author:
h

[I]f you have a goal to improve your credit score for the new year, you need to set up steps to help you achieve this goal. For many, they read all kinds of information about how to get a good credit score, and it can be overwhelming. Sometimes, it can sound so easy but not […]

Continue Reading »

Why You Need to Check All Three Credit Reports

January 19th, 2018 | Author:
h

[T]here are three major credit reporting agencies: Experian, Equifax and TransUnion. All of them provide a credit report which lists your personal information and credit accounts. You can get one report for free each year or purchase extra reports through the agency sites. Many people just get one credit report, but you really should get […]

Continue Reading »

What is the Right Amount for a Credit Limit?

January 18th, 2018 | Author:
h

[A]s you get credit cards, you will notice they give you a credit limit. This is the maximum amount you can spend on the card without paying some of it off first. Credit card companies often increase your credit limit as you prove responsible handling the amount you have. You may wonder if more credit […]

Continue Reading »

Buying a Car with Bad Credit

January 12th, 2018 | Author:
h

[I]f you have bad credit, it can be difficult to qualify for a car loan. However, it’s not impossible. Before you go out and apply for money to purchase a vehicle, there are some things you should know. Check Your Credit Before you fill out any applications for car loans, you need to take a […]

Continue Reading »

What Does No Credit Mean?

January 10th, 2018 | Author:
h

[M]any people hear that they have bad credit, which means they haven’t always been responsible with their credit accounts. However, it is another situation entirely when a person is told they have no credit. You may wonder how that’s possible and what it really means for your future. No Credit Doesn’t Mean Never Any Credit […]

Continue Reading »

What You Need to Know about TransUnion

January 8th, 2018 | Author:
h

[T]ransUnion is one of the three credit bureaus which stores information about consumers and their credit history. It provides this information to creditors and to consumers. TransUnion was founded in 1968, and it now has more than 200 offices through the US and the world. How TransUnion is Different TransUnion is similar to the other […]

Continue Reading »

What You Should Know about Equifax

January 5th, 2018 | Author:
h

[E]quifax is one of the three major credit reporting agencies which provides information used on your credit report. It has a credit score which will impact your ability to get approved for new credit. All of these agencies aren’t the same, so here is some information you should know about Equifax. Equifax is headquartered out […]

Continue Reading »