MDG Account Types

MDG offers a variety of account types designed to cater to different consumer financing needs. The maximum credit amount available through MDG is $3,000, which serves as a revolving line of credit for shopping from its extensive catalog. The platform conducts a soft credit inquiry during the application process, which does not significantly impact the applicant's credit score. Users can choose from flexible bi-weekly payment plans, which can range from 39 to 46 payments based on their preferences. The annual percentage rate (APR) can go up to 35.95%, and users may incur a late payment fee of up to $40 if payments are not made on time.

MDG Broker Account Opening Process

Opening an account with MDG involves a straightforward process:

• Application Submission: Prospective users must submit an application through the 'apply now' option on the MDG homepage.

• Pre-Qualification Stage: MDG performs a soft credit inquiry to assess eligibility based on the information provided, including social security number and contact details.

• Credit Offer: If approved, users will receive an offer for a revolving line of credit, which allows them to start shopping within their assigned credit limit.

• Product Shopping: Once the credit line is established, users can browse the vast catalog and add items to their cart, ensuring the total value does not exceed their credit limit.

• Order Approval: Users must review and accept the repayment terms presented during the checkout process before finalizing their order.

• Initial Payment: An initial down payment is required to complete the order, followed by bi-weekly payments as per the selected plan.

• Account Management: Users can manage their accounts online, monitor their spending, and make early repayments without penalties to increase their purchasing power.

By following these steps, users can effectively open an MDG account and take advantage of their consumer financing options.