What Rent-A-Center payments are and where they go
Rent-A-Center is a rent-to-own retailer where you make weekly or bi-weekly payments toward furniture, electronics, and appliances rather than buying them outright. Your payments go directly to Rent-A-Center's corporate account, not to a manufacturer or third party. The company holds the item until you've paid enough to own it outright, or you can return it at any time without further obligation.
Unlike a traditional purchase, you're not building equity in the item until you reach the ownership threshold — typically after 12 to 24 months of on-time payments, depending on the item's price and your payment plan. Until then, Rent-A-Center retains ownership and can repossess the item if you miss payments.
Key Takeaways
- Rent-A-Center payments are made weekly or bi-weekly directly to the company, and the total cost of renting an item to ownership is significantly higher than the item's retail price.
- You do not own the item until you complete all payments or exercise an early purchase option, and missing payments can result in the item being repossessed.
- Payment methods include in-store cash, debit card, credit card, bank account transfer, or their mobile app, and you can set up automatic payments to avoid missed important date.
- Rent-A-Center reports payment history to credit bureaus only if you default; on-time payments typically do not appear on your credit report.
- You have the right to return any item within the first few days of the rental agreement, though some locations have different return windows.
How payment frequency and amounts are set
When you rent an item from Rent-A-Center, a store associate calculates your payment amount based on the item's price, the length of your rental agreement, and whether you choose weekly or bi-weekly payments. Weekly payments are smaller but happen more often; bi-weekly payments are larger but occur less frequently. The store will show you the total amount you'll pay by the end of the agreement before you sign.
The cost to own an item through Rent-A-Center is substantially higher than buying it new or used elsewhere. For example, a television that costs $400 to buy might cost $800 to $1,200 by the time you own it through the rental plan. This difference covers the company's cost of holding inventory, managing the account, and accepting the risk that you might return the item or default.
You can request a different payment schedule if the one offered doesn't fit your budget, though the total cost remains the same. Some locations offer monthly payment options, but these are less common than weekly or bi-weekly plans.
Where to make your payment and accepted methods
You can make Rent-A-Center payments in several ways. The most common method is paying in person at any Rent-A-Center location using cash, debit card, or credit card. You can also set up automatic payments through your bank account using the Rent-A-Center website or mobile app, which ensures you never miss a due date.
If you use the mobile app or website, you can pay with a debit card or by linking your bank account directly. Automatic payments are deducted on your scheduled payment day — usually the day you chose when you signed the rental agreement. You can change your payment method or schedule at any time by visiting a store or logging into your online account.
Some Rent-A-Center locations accept payments by phone, though this is less common. Always confirm your payment was received by checking your receipt in-store or your account online within 24 hours.
What happens if you miss a payment
If you miss a payment, Rent-A-Center will typically contact you by phone or text within a few days to remind you. You usually have a grace period of several days to make the payment before the company takes further action, though the exact window varies by location and your agreement terms.
If you continue to miss payments, Rent-A-Center can repossess the item without notice in most states. This means a company representative can come to your home and take back the furniture or electronics. Once repossessed, you lose all the payments you've made toward ownership, and the item is returned to inventory or sold.
Repeated missed payments may be reported to credit bureaus, which can lower your credit score. Rent-A-Center may also pursue collection action or take you to small claims court for the remaining balance owed under your agreement.
Early purchase options and payoff
Most Rent-A-Center agreements include an early purchase option, which lets you own the item before the full rental term ends. The early purchase price is usually calculated by taking the remaining payments and explore a discount — typically 10 to 20 percent off what you would have paid if you completed the full agreement.
To exercise an early purchase option, visit your local Rent-A-Center store or call the location where you rented the item. The store will calculate your exact payoff amount and accept payment by cash, card, or bank transfer. Once paid in full, the item is yours and Rent-A-Center has no further claim to it.
If you want to pay off your agreement early but cannot afford the lump sum, ask the store about modifying your payment plan to a shorter schedule. Some locations will allow you to increase your weekly or bi-weekly payment to finish sooner.
How Rent-A-Center reports payment history
Rent-A-Center does not report on-time payments to the three major credit bureaus — Equifax, Experian, and TransUnion. This means making your payments on schedule will not help your credit score. However, if you default on your account, Rent-A-Center can report the delinquency to credit bureaus, which will harm your credit.
The company may also sell your debt to a collection agency if you fall far enough behind. Once in collections, the account appears on your credit report and can affect your ability to borrow money, rent housing, or even find employment.
If you believe Rent-A-Center has reported inaccurate information about your account, you have the right to dispute it directly with the credit bureau. Request a copy of your credit report from AnnualCreditReport.com, which is free and does not affect your credit score.
Your rights as a Rent-A-Center customer
Federal law and most state laws give you specific rights when renting from Rent-A-Center. You have the right to return any item within the first few days of your agreement — usually three to five days, though this varies by state and location. Returning an item ends your obligation, and you forfeit only the payments you've already made.
You also have the right to know the total cost of ownership before you sign the agreement, and the store must provide this in writing. If Rent-A-Center repossesses an item, they must follow state-specific procedures, which often include providing notice and allowing you a chance to catch up on payments before taking the item.
If you have questions about your rights or believe Rent-A-Center has violated your agreement, contact your state's Attorney General office or the Consumer Financial Protection Bureau. Both agencies investigate complaints and can take action against the company if necessary.
Frequently Asked Questions
Can I return a Rent-A-Center item after the return period ends?
Once the initial return period (usually three to five days) expires, you cannot return the item without penalty. You can stop making payments and let the item be repossessed, but you'll lose all money paid so far and may face collection action for any remaining balance.
What happens to my payments if I return the item?
Payments you've already made are forfeited — Rent-A-Center does not refund them. The company keeps the payments as compensation for the time the item was in your possession and the cost of restocking it.
Can I transfer my Rent-A-Center agreement to someone else?
No, rental agreements are non-transferable. If you want to end your agreement, you must return the item or let it be repossessed. The new person would need to start their own rental agreement with Rent-A-Center.
Does Rent-A-Center accept partial payments?
Most locations do not accept partial payments toward your weekly or bi-weekly due amount. You must pay the full scheduled payment by the due date. If you're short on funds, contact your store to discuss modifying your payment plan or payment date.
What if I want to own the item faster than my agreement allows?
You can use the early purchase option to own the item sooner by paying a discounted lump sum, or ask the store about increasing your weekly or bi-weekly payment amount to shorten the agreement term.