Q:

What types of financing does MDG offer?

A:

Quick Answer

MDG states that it offers consumer financing for appliances, electronics and furniture. The financing is offered directly by MDG and gives consumers a line of credit ranging from $900 to $2,900 based on their credit profile. Customers can apply for an account with MDG online and receive conditional approval and credit limits within minutes. However, additional information in the form of supporting documents may be required for final approval.

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Full Answer

MDG also states that a credit check is required in order to determine the interest rate for purchases. Customers can expect an interest rate of between 19 percent and 44 percent depending on their credit history. If customers make more than two late payments in a three month period a penalty interest rate of up to 53 percent is charged. Customers that pay late or have payments returned can expect a fee of up to $25 to be charged to their account.

In addition, MDG states that customers that finance with the company have the ability to pay off their credit accounts in full at any time without prepayment penalty. This can help decrease the amount of interest that is paid over the life of the purchase. Interest and finance charges are charged to the account once the product has been shipped to the customer.

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