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.
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