Purchasing Power

 

Founded over 20 years ago in 2001, Purchasing Power was originally in the business of selling computers through payroll deduction. Customers fell in love with the easy and budget-friendly way to make payments right from their paycheck, and the program evolved to offer a responsible way to purchase electronics, furniture, appliances, home décor and more.

 

At Purchasing Power, you are not a credit score or an account number. You can be you and own your life with a better way to buy.

To participate in the Purchasing Power program, you must meet the following criteria:

• You must earn at least $16,000 a year
• You must have a bank account or credit card (to be used in case of non-payment via payroll deduction)
• You must be at least 18 years of age

 

If you have been an active employee for less than 3 months as of October 1, 2023, you will receive $250 as a start for your spending power* through this program. Once you are an active employee for 4 to 6 months, your spending power* will increase to $500. After 7 or more months of being an active employee, a full spending power* becomes available.

While the program is only available for you to sign up through your employer, you can purchase on behalf of family members and pay through your paycheck (spending limits apply). 

To use this program, you simply register by signing up online for free. Then view the catalog online to find what you want.

Good news! If you leave or retire from your current employer, you can continue to make existing payments via a bank account/credit card over the remainder of the repayment period. Contact Purchasing Power's customer care team to learn more about your options.

Buy Now, Pay Later (BNPL) services might appear helpful, but they can leave you out of options.

• If you fall behind on BNLP payments, you could see a decrease in your credit score.
  • Purchasing Power will never harm your credit.
• The fees associated with late payments can quickly add up.
  • Purchasing Power does not charge late fees.
• Most BNPL services allow you to have multiple plans open at once, which can easily overextend your budget.
  • Your personalized spending limit with Purchasing Power protects you from overspending.
• These services also include shorter payment terms, meaning you’re paying more per payment, which can stress your finances.
  • With Purchasing Power, you’ll never have to worry about short payback periods since you have up to 12 months to pay.

That depends on the option you select – either 6 months or 12 months. A longer payment time results in a lower payment amount deducted from each paycheck. A shorter payment time means you have a higher payment amount deducted from each paycheck and pay off your purchase sooner. You will see your “total price per pay period” options when you check out. 

This is not a discount program and the product price all by itself may be higher than you could find elsewhere, especially if you’re able to pay cash. The advantage here is that the price you see is the total cost each pay period. There are no hidden fees, so you can be confident that your per-paycheck price includes: 

 

• Product
• Warranty (if applicable)
• Taxes
• Shipping charges

 

When you purchase through credit cards or financing, for example, your purchase price likely doesn’t include shipping, warranties, and the finance charges you pay over time – and all of these are ultimately part of your “total” cost.

A spending limit is the total amount you have available to spend with Purchasing Power. These spending limits are in place for your benefit, to ensure that you don’t overextend your paycheck.

After your order ships, the first payment will be deducted from your next pay period's paycheck

When you order, Purchasing Power automatically verifies your eligibility to make a purchase and your purchase limit. If you meet the eligibility requirements, your order will be processed and shipped.

 

If you give an email address, you'll get an order confirmation with your order details. When your order is shipped, you'll get an email with order tracking information.