I did not use my full approval amount, can I go back to the store and make another purchase?
Absolutely! If you keep your account current, you may redeem the remaining balance. For example, if you’re approved for $1,000 and only use $500, you may go back and use the remaining $500 as long as you continue to make payments on time and within 30 days of your approval.
Also, by establishing a good borrower history with Cherry and paying your loans off completely, you can make your full approval amount available again.
Does Cherry report to the credit bureaus?
Yes, Cherry may report the status of our borrowers’ accounts to Equifax, one of the major credit bureaus.
Can missing payments on my account with Cherry hurt my credit?
Once you take out a loan with Cherry, we may report repayment information about your account to the consumer reporting agencies. Loans that are marked as delinquent may have a negative impact on your credit score.
What is your policy on refunds?
To request a refund, please contact the merchant where you used Cherry to make a purchase.
We defer to the refund policies put in place by our partner merchants and cannot initiate a refund without merchant approval.
Once the merchant authorizes a refund we will deposit the refunded amount (full or partial) into your account. Your Cherry account status and loan balance are adjusted accordingly.
If a partial refund is issued, your loan amount will be adjusted to reflect your new remaining balance. If a refund is issued in full, any payments made on your loan will be returned to you.
How do I dispute my purchase?
If you have a complaint regarding the goods, services, installation of your items, or to request a cancellation or a return, please contact the merchant directly to inquire about the status of your items.
You are required to make payments on your loan until the issue is resolved.
Can I change my due date?
Are there any fees or penalties for paying early?
No! Your account will not be charged any fees or penalties if you pay early.
Also, if you pay off your account before the final payment is due, you won’t pay any interest that would accrue over the rest of the loan, saving you money.
What are the hours of your help line?
Our support line is staffed Monday through Friday from 8am PST until 6pm PST (excluding holidays). If you can’t reach one of our customer service representatives, please leave a message and we’ll get back to you as soon as we can.