Afterpay sends you a confirmation email outlining the amounts and dates that the payments are due.įirst payment higher than the other three?įor some purchases, if your total order amount exceeds your Afterpay-approved spending limit the first payment may be higher than subsequent payments. In all cases you will be notified on screen if the first payment is due at the time of the purchase. If you have been shopping with Afterpay for some time, and have a really good repayment history., you may find that Afterpay defers taking the first payment until 2 weeks (15 days for residents of California) after you make your purchase. ◄When will my first payment be taken? You will more than likely pay the first installment of the purchase price at the time you place the order. No, soft credit checks do not affect credit scores. Will soft credit checks from Afterpay affect my credit score? Afterpay Buy now, Pay Later payments will not affect your credit score, as they are not reported to credit reporting agencies. Will using Afterpay Buy Now, Pay Later feature affect my credit score? If you are declined due to reasons related to your credit report, rather than fraud, the details will be delivered through the Adverse Notice Message (email received after the decline). Will a new customer be declined due to a consumer report assessment? We want your first experience with Afterpay to be the best for your wallet. Soft credit checks are one of the criteria that we use to ensure that the initial spending limit is right for our new customers. Soft credit checks (also known as soft pulls or soft inquiries) are very common and will not affect credit scores, will not be visible to other lenders or creditors and may or may not be recorded in credit reports, depending on the credit bureau.Īfterpay takes a number of factors into account when making a decision to approve a new customer, a soft credit check is one of those factors.Īfterpay wants to ensure that Afterpay is supporting our customers in making the right financial decision for their circumstance. This soft credit check will not impact a customer’s credit score. ◄Are there any credit checks required? Afterpay may conduct a soft credit check for new customers when they first sign-up to use the platform. ◄Are there any hidden fees? Afterpay is a free service when you pay on time - there are no upfront fees charged or any interest incurred. While we know it can be frustrating to not know exactly how much you can spend each time or how many active orders you can have, our rules and approval process help Afterpay responsibly offer a completely free service to shoppers.
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