#1
Hey guys, I have a question, and I hope I put this in the right forum. If I didn't, I apologize. I want to invest in a new bass rig, but I was curious about the payment plans offered by Zzounds and AMS where you can pay in monthly installments of either 8, 10, or 12 payments monthly, depending on the product and current available pay plans. I've heard that on purchases over $1000, that they run a credit check, but I've also heard that they run it anyway regardless of amount. I don't know anything about this, but I do know I have bad credit on my short credit history (because of an issue that has since been taken care of), so will they deny you if you don't have good credit? I want to know what may happen. Has anyone here done a payment plan? (8, 10, or 12 pay only, please. That's all I'm interested in). Has anyone tried to do one but got denied?

If you have never done this before, I REALLY don't want to know about how you have no idea. I've posted this in a few different forums now and all I get is, "I don't know, I assume they do. Who knows?" That isn't helpful. I'm sorry, but I just want to find somebody who knows something about this. I just want to know because I don't want to make a credit inquiry and have it denied if I don't have to.
Last edited by Ravendeth at Dec 17, 2013,
#2
I bought a guitar from Zzounds using their Pay while you Play program. Great service, fast delivery, everything was awesome. I would definitely do it again.

I have no credit. They were fine with that. Once I fully paid off that guitar, they've been hounding me to buy another one.
Last edited by iwannabesedated at Dec 17, 2013,
#4
If you don't mind me asking, how many payments did you do and how much was the guitar? I know the worst is getting denied, but I just wanted to know first because I would just rather not make the credit inquiry if nothing else. I have been told several times that if the purchase is less than $1000 on both sites, they don't check credit. But the basses I want are over $1000 and available on a 8 and 12 pay plan, so if this stuff about $1000 purchases is true, they will check it.
#5
Quote by Ravendeth
If you don't mind me asking, how many payments did you do and how much was the guitar? I know the worst is getting denied, but I just wanted to know first because I would just rather not make the credit inquiry if nothing else. I have been told several times that if the purchase is less than $1000 on both sites, they don't check credit. But the basses I want are over $1000 and available on a 8 and 12 pay plan, so if this stuff about $1000 purchases is true, they will check it.


Seems like they would have to check your credit no matter what in order to be able to report it if you decided not to pay anymore. Maybe you should just call them and inquire about their payment plan...
[..BLACKFIRE..]
Last edited by Blackfire. at Dec 17, 2013,
#6
^+1, just call them and ask.

Also, be careful financing gear man. You miss a payment and they will kill you with absurd interest rates. Waiting a couple months and saving up the cash is generally a better idea, and will most likely get you a better price point.
#7
Quote by zl1288
^+1, just call them and ask.

Also, be careful financing gear man. You miss a payment and they will kill you with absurd interest rates. Waiting a couple months and saving up the cash is generally a better idea, and will most likely get you a better price point.


False!

I've purchased $1000+ worth of equipment twice now. Zzounds takes the payments directly from your account and there is NO interest EVER. They add a few bucks to your first payment as a financing fee. If I remember correctly it was under $25.

I was also late on a payment once and was not charged any additional amount.
#8
^ Yes, if you pay off the gear in the required period you will be fine and will pay minimal interest(financing fee is technically interest). My point was that you can get into trouble if you miss a payment or fail to pay off the gear in the required period. Most payment plans I have seen penalize you be hitting you with a high APR dating back to the start of the agreement.

That being said, I don't know the specifics of the Zzounds or AMS payment plans, so they could be completely different.
#9
^ No, a financing fee is not technically interest. Interest by definition is paid regularly and normally with each payment. A financing fee is only paid once normally at the beginning of the agreement.

Zzounds' offering IS completely different than the type of plans you are referring to. In fact... to more specifically answer subby's question: I have used their plan twice and my credit reports (3 agencies) does not show an inquiry from them.

Subby stated "If you have never done this before, I REALLY don't want to know about how you have no idea."
#10
I'm referring to the APR, not a periodic interest rate.

Glad you have had sucess with the payment plan. I still stand by my orginal statement that the TS should be careful about financing gear/payment plans.
#11
I took a look at ZZ's plan and it isn't like a zero interest credit card offer where they rein financial H E double hockey sticks down on you if you miss a payment. Looks like a good deal if you need to finance.

It appears as though you need to give them a CC or Debit Card to automatically take the monthly installments.
Last edited by fly135 at Dec 17, 2013,
#12
FYI.. Everytime someone runs a credit check on you, it's called a "soft hit", and will negativly effect your credit score if you are denied.

I never knew about it until I was vehicle shopping, and checked out a line of credit through my bank. The lady at the bank told me not to let any dealership run a credit check on a vehicle for me, unless I was seriously interested because even only a few "soft hit's" could have a pretty big impact on your credit score.

Another little tip to improve your credit score in a hurry is to get a low limit visa (say $500), and use it for all your purchases. This only works if you pay it off right away. I did this through my last year of college, and now have a near perfect credit score. 6 months into my first real job out of college and the bank was willing to give me a $45,000 LOC @ 3.9% For a vehicle, and thats without a liene.
Guitars:
PRS Custom 24
Gibson Les Paul 60's Tribute
85' MIJ Strat
97' Snakepit Les Paul
LP Traditional 1960 Zebra
MIJ Tele
MIA Strat

Amps:
Silver Jubilee 2525
Peavey Ultra 112
Jet City JCA50H
66' Bassman
Pink Paisley Princeton RV
74' Vibro Champ
Last edited by red.guitar at Dec 17, 2013,
#14
I buy almost exclusively from Zzounds. I was late on a payment for over a couple of weeks because I was in the hospital and they didn't charge me more. I didn't have to tell them I was in the hospital I just caught up on my payment. For me the service works. So far I bought a $300.00 item a $800.00 item and now a $,1600.00 item. But call and ask first to get all the details. If you think you think you might default or if you already planning to miss a payment, or if you suspect it's going to be tough to make a payment then don't do it. Please, keep the service safe for the rest of us.

I'm not ripping on anyone because I don't rip on anyone but I do get slightly annoyed when people come of with theoretical responses without the necessary experience.
#15
Quote by antics32
I'm not ripping on anyone because I don't rip on anyone but I do get slightly annoyed when people come of with theoretical responses without the necessary experience.


Thank you for that. This is what I was trying to avoid. And thanks for your input, it was valid and useful

I'm not worrying about defaulting or missing a payment. I could pay it all off in one go if I had to, and in the unlikely event something happens to my income, I will use the money I already have to pay it off. I'd rather make small payments monthly than one big lump payment just so I don't have to be out $1300 with one purchase.

I just don't want my credit to prevent me from getting new gear. If it does, I'll pay it all up front. In the meantime, I will call them and ask, then when I decide for sure on what I want, I'll place the order and see what happens.

And as for the warnings about entering into a payment plan carefully, you really think I haven't thought about that? I'm sorry if I come off as rude, but if I weren't in a stable place, I wouldn't have even brought this up

Thanks to everyone for their input, I'll try it and see how it goes!
#16
I used American musical when I bought my DT25 and HD500. I ordered it online and received a call back within 10 minutes and they asked for my social and 3 minutes later they said all was good and 3 days later I received my goods and once a month for 8 months they took out the payments automatically. I would use it again for shure.
#17
Thanks, I'll probably go with AMS, so that's good to know.

Also, can you use a debit card for these purchases?
#18
Quote by Ravendeth
Thank you for that. This is what I was trying to avoid. And thanks for your input, it was valid and useful

I'm not worrying about defaulting or missing a payment. I could pay it all off in one go if I had to, and in the unlikely event something happens to my income, I will use the money I already have to pay it off. I'd rather make small payments monthly than one big lump payment just so I don't have to be out $1300 with one purchase.

I just don't want my credit to prevent me from getting new gear. If it does, I'll pay it all up front. In the meantime, I will call them and ask, then when I decide for sure on what I want, I'll place the order and see what happens.

And as for the warnings about entering into a payment plan carefully, you really think I haven't thought about that? I'm sorry if I come off as rude, but if I weren't in a stable place, I wouldn't have even brought this up

Thanks to everyone for their input, I'll try it and see how it goes!


Sorry about that, I'm not annoyed anymore and I wasn't annoyed at you. I was in a bit of a tizzy over the misconception of tacking on extra financing. I know zzounds doesn't do it that way from continued experience with them.
#19
Quote by Ravendeth
Thanks, I'll probably go with AMS, so that's good to know.

Also, can you use a debit card for these purchases?


Yea I used a visa check card
#20
Be a bit careful with any guitar store financing setup. And definitely read all the fine print.

I have a Guitar Center card. Guitar Center offers 6, 12 and 18-month "same as cash" no interest financing (no financing fee, either) through a Nevada bank. They do a quick credit check when you open the account and give you a credit limit. I've had them lower mine twice; it's just too easy for someone to buy easily fenced merchandise if you lose the card, and I'm not at all sure that the usual credit card protections apply (it's not a mastercard or visa, nor is it good anywhere else). You need to make a minimum payment each month (around $25 if your balance is under $1000). If you miss the minimum payment, you pay the full interest accrued amount from there on and the "X months same as cash" is off. If you exceed those X months to pay for your purchase, you'll pay somewhere between 22 and 28 percent APR on the whole purchase (interest is always accrued but not charged if you pay the item off within the contract time).

You're always smarter to save the money and curb the GAS until you can pay cash. If you DO take advantage of one of the X month same as cash offers, be sure to pay it off within the time limit. If you can avoid paying with an ordinary credit card, do so; that's just another step down the road to debt that you don't need.
#21
Typical zero interest CC offers are ticking time bombs just waiting for you to make a late payment. So it's understandable that you should be wary and read the fine print when you see an offer like that.
#23
The American musical deal isn't a credit line. you just allow them to take x amount of money each month on a certain date from your visa or bank account. kinda like writing 8 check once a month
#24
I bought my Epi Tribute + from zzounds on their 8 payment plan. Financing fee was 14.99 USD added to the first payment. Guitar arrived in less than a week in perfect condition. Last payment is in Jan. It's worked out very well for me.
Everything I say can be fully substantiated by my own opinion
#25
I've done payment plans from zZounds, AMS, and Sweetwater and had no problems with any of them.

I got my Les Paul from zZounds ($1900) and they never even contacted me. I was late on a payment once because I changed banks and forgot to update my debit card info and I was not charged anything (it ended up about a week late).

I just started one at AMS that's around $1150 and they called me to get my SS# to check my credit. My credit is kinda high-midrange and they accepted it (for perspective, I don't qualify for the credit cards from GE Money Bank [the card for Sweetwater, Musician's Friend, Guitar Center, etc.]). They didn't check my credit on one for $800 but that was over two years ago so their policy may have changed.

It's really not a bad deal. The current one from AMS comes out to an equivalent APR of just over 2%. You really can't beat that short of paying in full at checkout.
"Practice doesn't make perfect. Perfect practice makes perfect." -some dude
Last edited by Prime2515102 at Dec 20, 2013,
#26
AMS and ZZounds are fine to deal with, I have ordered $1000's from both and have never had an issue
2002 PRS CE22
2013 G&L ASAT Deluxe
2009 Epiphone G-400 (SH-4)
Marshall JCM2000 DSL100
Krank 1980 Jr 20watt
Krank Rev 4x12 (eminence V12)
GFS Greenie/Digitech Bad Monkey
Morley Bad Horsie 2
MXR Smart Gate
#29
I've been an AMS customer for 5 years until last month. I usually had between 250-300 a month in payments on random gear for the band. I paid off my account early last month like usual then was told "you can't get ANYTHING else on ANY payment plan anymore"

While I was a customer it was great. Loved them. I don't know what's changed but I was pretty pissed off when she told me that. I early pay on everything and never missed a payment. FIVE FRIGGIN YEARS STRAIGHT!

Looks like I'll have to try out sweetwater next. Never heard anything bad about em.
Last edited by cheesefries at Mar 24, 2014,
#30
^^ www.Zzounds.com is a good one also
2002 PRS CE22
2013 G&L ASAT Deluxe
2009 Epiphone G-400 (SH-4)
Marshall JCM2000 DSL100
Krank 1980 Jr 20watt
Krank Rev 4x12 (eminence V12)
GFS Greenie/Digitech Bad Monkey
Morley Bad Horsie 2
MXR Smart Gate
#32
I bought an amp head from zZounds using the pay while you play thing, and I believe it said it doesn't really matter if your credit is good or bad
Guitars:
-Gibson Les Paul Custom Shop Silverburst (Invader/'59)
-Ovation ApplauseAE44II Elite Black Acoustic


Amps/Cabs
-Peavey 6505+ Head
Orange PPC2x12 Cab Black
-Behringer Ultracoustic ACX450 1x8 Acoustic Combo


Wayyyyy too many effects pedals...
#33
I bought a guitar from Zzounds using their Pay while you Play program. Great service, fast delivery, everything was awesome. I would definitely do it again.

I have no credit. They were fine with that. Once I fully paid off that guitar, they've been hounding me to buy another one.


I also used that Pay While You Play and its awesome. ZZounds do offer credit financing but their "Pay While You Play" is a different option that doesn't require credit check or anything. They just take money directly out of your bank account similar to people who enroll in "auto pay" for their bills. i think its like 4 equal payments or maybe more if its a big purchase and they will give you a schedule on when they will deduct the money from your bank account
Last edited by deadmanwalkin00 at Mar 29, 2014,
#34
Sorry for resurrecting a dead thread here, but I Just made a pay as you play purchase through zzounds today and they do ask for your social security number right before you check out if they need to run a credit check. I'm not sure if they run it for each and every purchase, but I've bought an $800 purchase, $400 purchase, and today's... (I financed a MIM strat today and they beat a GC price so I picked it up for around $410 brand new!!)

With the combination of their price match and financing, if I buy new, I go through zzounds and they've been great every time.
#35
Hello, new to this site, but I registered to make a comment since this is the first google result from searching "zzounds credit check". I only made a $300 purchase. I did the pay as you play payment method. There is no credit check for this purchase amount. I use myfico.com, which reports all credit related matters to you, credit checks included, so I can see in real-time inquiries and such.

Quote by red.guitar
FYI.. Everytime someone runs a credit check on you, it's called a "soft hit", and will negativly effect your credit score if you are denied.

I never knew about it until I was vehicle shopping, and checked out a line of credit through my bank. The lady at the bank told me not to let any dealership run a credit check on a vehicle for me, unless I was seriously interested because even only a few "soft hit's" could have a pretty big impact on your credit score.

Another little tip to improve your credit score in a hurry is to get a low limit visa (say $500), and use it for all your purchases. This only works if you pay it off right away. I did this through my last year of college, and now have a near perfect credit score. 6 months into my first real job out of college and the bank was willing to give me a $45,000 LOC @ 3.9% For a vehicle, and thats without a liene.


I also wanted to point out that this information about inquiries is absolutely false. There are soft inquiries and hard inquiries. Soft inquiries do not affect your credit in any way, shape, or form. When you check your own credit, that is a soft inquiry. When lenders use the monthly information they are provided by the credit reporting bureaus, that is a soft inquiry. When a lender requests your credit information from the credit bureaus , that is a hard inquiry. When you go for an auto loan or home loan, or most credit cards, it will be a hard inquiry. Hard inquiries become a part of your credit record for 2 years and do negatively affect you. Soft inquiries do not.

And there is no such thing as a "perfect credit score", but his advice on getting a small limit card to help increase your credit is solid information. As long as you are responsible with it.

Bottom line, use zzounds.com, they are awesome.
#36
Update: Zzounds did do a credit check on me. They did a hard inquiry through experian today. I was still approved with mediocre credit. It isn't bad, just not stellar. Inquiries are not that big of a deal, you just don't want to have a lot before you go for a big loan, like a car loan, or home loan. It will affect the interest rate you get charged, which can end up being a LOT of money.

So apparently they do credit checks even on amounts as low as $300. I will shoot them an email and see if they will do more in the future if I order more. This payment plan is only 4 months long, and I plan on getting more items through them as long as they don't pull my credit every time. 3 or 4 credit checks a year could be bad if you have other people pulling your credit as well.