Okinus requirements and credit

Who can apply

• 18 or older

  Applicants must be adults.

• A checking account

  Payments are drafted automatically from it, so it needs to be active.

• A source of income

  Okinus says there’s no minimum income requirement.

• A participating state and retailer

  Okinus states its program isn’t available in all states.

Source: Okinus: Consumer FAQs

What counts as income

Okinus says it accepts many kinds of income, including:

• Wages from a job
• Social Security
• Disability benefits
• Retirement income
• Self-employment income

Sources: Okinus: Consumer FAQs; Okinus financing

Does Okinus check your credit?

“No credit needed” is easy to misread. Here is what Okinus actually says:

Sources: Okinus: How It Works; Okinus: Legal: service agreement and terms

How applying works

1. Find a participating retailer, in store or online. Okinus is offered at checkout as a lease-to-own payment option.
2. Complete the Okinus application with your personal, income and checking account details.
3. Get a decision with your approval amount.
4. Choose merchandise, review the lease terms and sign. Pay any initial payment to the retailer.

At the store, be ready to show a government-issued photo ID and the details of your checking account. Retailers may ask for a debit card as well.

Sources: Okinus: How It Works; Okinus: Consumer FAQs; Lease-to-own

Approval amounts and how long they last

• Up to about $8,000

  Okinus describes $8,000 as its typical maximum. Your amount depends on the product category and your application.

• Valid for 30 days

  Use your approval within 30 days, or you may need to reapply.

• $300 minimum lease

  Okinus lists a minimum lease amount of $300.

• Adding another lease

  Okinus says you may be able to open a new lease once you’ve paid 25% of your current one.

HVAC systems and water heaters go through Okinus’s Breeze Lease Purchase division, which has its own higher limits.

Sources: Okinus: Consumer FAQs; Okinus: Legal: service agreement and terms; Breeze Lease Purchase

If you’re declined

Approval is never guaranteed. If your application isn’t approved:

• Look for the notice explaining the decision. If a consumer report was used, it should name the reporting company, and you can request a free copy of that report.
• Check that your checking account details and income were entered correctly.
• Check your credit reports for errors at AnnualCreditReport.com.
• If you need money rather than merchandise, compare loan options instead.

Common questions