Lease-to-own virtual card
Written by Emily Madden
Updated over a week ago

This article will tell you a little bit more about our virtual card and answer some common questions.

What is the Koalafi virtual card?

Koalafi virtual card is a single-use card you can use for shopping at Koalafi-approved online stores within the US. Our virtual card does not work like a traditional credit or debit card as no line of credit is being extended to you. Instead, the card is issued to you as an authorized user, allowing you to purchase the goods you intend to lease under a Koalafi lease-to-own agreement. After you sign a lease agreement with Koalafi, you will see a unique card number that can be used at checkout.

How do I get a virtual card?

  1. Apply for a Koalafi lease to see your approval amount.

  2. Shop at a Koalafi-approved merchant that supports virtual cards. Shop like you normally would, adding leasable items to your cart, up to your approval limit.

  3. Tell Koalafi about each item in your cart, as well as the total transaction amount.

  4. Review your lease summary and sign your lease agreement. After signing, you will see a unique, one-time-use card.

  5. Pay with the one-time card at checkout like you would with any debit or credit card. Enter the card number, expiration date, and CVV to complete the transaction.

Why does my card expire in 24 hours?

To prevent fraud, the virtual one-time use card is provided for the specific merchant and transaction you indicated and expires in 24 hours.

What happens if I don’t use the card?

If you don’t use your card within 24 hours, the card and your application will be expired. If you made any initial payment, that payment will be refunded back to you.

How much will my virtual card be issued for?

Your virtual card will be issued for your lease amount and cannot exceed your approval limit.

How do I return an item purchased with a Koalafi virtual card?

If you are exchanging an item for the same item and there is no price change, you do not need to contact us.

If you want to initiate a return for some or all of your items, work directly with the merchant and request a refund back to your original payment method. Refunds typically take 7-10 business days to process. Once the payment is refunded, give Koalafi a call to update your lease.

What items can I lease with a Koalafi virtual card?

You can only lease items in these categories and the items must also meet specific requirements. Learn more here.

  • Furniture

  • Appliances

  • Mattresses and Bed Frames

  • Tires, Wheels, and Rims

Have additional questions?

Contact us at 844.937.8275 and we’re happy to answer your questions.

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