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Rai Financial

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Rai Financial is a home and consumer electronics and supplies store with a higher purpose — to help individuals and businesses build or improve their credit. Basically, customers can open a credit line with Rai Financial (with very minimal requirements for acceptance) and then gain exclusive access to the company’s store.

This way, customers can buy furniture, electronics, and office supplies on credit and work to build their credit while also having a way to access the supplies they need to live and/or work. Rai Financial is not a credit repair service, but customers have reported that having a healthy line of credit through its services has helped increase their credit scores.

The company was founded in 2020 and seeks to help the underserved population of people who have little to no credit but need/want to build credit.

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The Good

  • Easy Approval
  • Credit Plans
  • Veteran Owned

Easy Approval

Even with poor credit, you can be approved fairly easily for a line of credit with Rai Financial and thus gain access to its store of electronic and home products. In fact, you are guaranteed to be approved as long as you meet the following criteria: 

  • US citizen
  • Monthly household income of at least $1000
  • 18 years or older
  • Valid social security number

Once approved, you can choose from one of two main credit plans, which are described in more detail below.

Credit Plans

Rai Financial offers two main credit plans to pick from: CreditFacts, which offers $15,000 in revolving credit, or CreditFacts Plus, which offers $25,000 in revolving credit (for bulk or large purchases). These plans offer low monthly payments and 24 months of 0% financing.

The company also offers a business credit plan called BusinessFacts Net30 which allows businesses to fulfill their supply needs as well. This is ideal for new and existing businesses looking to build their business credit.

All credit accounts are reported to the major credit bureaus on a monthly basis. Rai Financial is not a credit repair service, but customers have reported significant increases in credit score after establishing and managing a credit line with Rai Financial.

Veteran Owned

According to Rai Financial’s website, the company is owned by minority veterans who have a strong work ethic and are reliable workers. Its staff is ready to serve you and is committed to earning your trust.

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The Bad

  • Undisclosed Products
  • Have to Open a Credit Line
  • Additional Fees

Undisclosed Products

While Rai Financial mentions that it sells furniture, office supplies, and electronics, we don’t know what these specific products look like or include, because you have to open a credit line with the company in order to have access to the store. This also means we can’t speak to the quality or reliability of the products as compared to other brands or competitors.

Have to Open a Credit Line

In order to take advantage of Rai Financial’s services and store, you have to open a credit line with the company. While the requirements for entry aren’t intense, opening a new or additional line of credit might not be something you want to do. If you don’t want to or can’t for some reason, Rai Financial is not for you.

Additional Fees

Rai Financial charges a one-time membership fee of $149.99 for a CreditFacts account or $249.99 for a CreditFacts Plus account. It also charges an annual maintenance fee of $99.99 for either account.

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The Bottom Line

Rai Financial is different from its competitors in the consumer electronics and office supplies industries. The company offers lines of credit for those looking to establish or build credit, and Rai Financial’s store is only available to those who open a line of credit and thus establish membership with the company. 

If you are looking to build or establish credit, and are in need of office supplies, furniture, or electronics, Rai Financial might work well for you. Otherwise, the company’s unique business model isn’t really meant for the everyday consumer.

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