Buy Now Pay Later (BNPL) is revolutionizing how we buy and spend. From helping you purchase big holidays to annual renovation projects, there’s hardly anything you can’t finance with BNPL these days.
But what’s the use of an amazing financing plan if you don’t know where you can use it? Let’s rectify that right away with our list of the best buy now pay later catalogs that you can use this 2022.
In this article, we’ve come up with some of the most popular and up-and-coming merchants who accept buy now pay later schemes.
Excited? Let’s get started!
1. FlexShopper
FlexShopper is a lease-to-own retailer with a catalog of over 80,000 products and an A+ rating from the Better Business Bureau. Their catalog of products includes everything from furniture and tech to jewelry and kids’ products.
Their instant approval gives you a spending limit of $2,500 that you can spend on single or multiple purchases.
Flexshopper gives you a 12-month lease period to make weekly payments after which you can own the product. Weekly payments start from $4. However, you can also make all your payments in one go.
Pros
- Instant approval
- Low weekly payments
Cons
- Products are on lease until payment is complete
2. Fingerhut
Fingerhut is an online shopping portal that sells everything from furniture and bedding to jewelry and the latest electronics.
Your payment options include the Fingerhut Advantage Revolving Credit Account or the Fingerhut FreshStart Credit Account which are both issued by WebBank.
With the Revolving Credit Account, you’re required to remit a one-time down payment that is counted towards your purchase.
On the other hand, the Fingerhut FreshStart Credit Account has a three-step installment program. You need to make a one-time purchase within your credit limit and pay a $30 down payment once your order ships. The rest of your balance is paid in monthly installments.
Completing payments on the FreshStart account can make you eligible for a Revolving Credit Account.
The approval process is instant and allows you to start shopping immediately. Paying off your purchases is also easy with monthly payments starting at $9.99.
Fingerhut doesn’t bill you for membership fees, over-limit fees, and annual charges either. All you have to do is meet your payments and the interest accrued. However, if you fail to pay on time, you have to pay a late fee of $40.
They also help you build your credit score by reporting your payment history to credit bureaus.
Pros
- Can help you build your credit score
- No hidden fees
Cons
- Monthly payments might be too high
- Sizable late fee
- Downpayment required
3. Zebit
Zebit is a marketplace that provides BNPL services to those with poor credit. Their catalog includes health equipment, furniture, electronics, home goods, accessories, and more.
Zebit doesn’t perform a hard credit check but instead pulls income and identity verification details about the applicant. Based on this soft credit check, you’re given a maximum spending limit of $2,500. Zebit also tells you how much your downpayment is which is typically 20 to 30% of your purchase amount.
Like Fingerhut, Zebit doesn’t charge any additional fees except what you see upon checkout. Your payment schedule is based on your income and is spread over six months.
Pros
- No hidden fees
- Soft credit check
Cons
- Downpayment required
4. Venue
A premium marketplace, Venue has over 1 million brand name products on offer.
Unlike other BNPL catalogs, Venue partners with four BNPL services to offer you flexible financing options. These services include Genesis Credit, Acima Leasing, Klarna, and Synchrony.
Applying for credit is simple. All you need to do is apply for a financing offer at checkout. If you aren’t approved for BNPL by one of its partners, you can see if its other affiliated BNPL providers will approve your transaction.
From low monthly payments, zero-interest payments, no credit checks, and instant approval, Venue offers some of the best financing options on premium products that you won’t find elsewhere.
Pros
- Premium product range
- Instant approval
- No interest if repaid in 6 or 12 months
- Four BNPL options
Cons
- A downpayment might be required
5. Stoneberry
If low monthly payments are what you’re looking for, shop at Stoneberry.
Stoneberry is an online retailer offering BNPL financing options on a wide range of products such as bed and bath, outdoor, electronics, beauty, and more.
With Stoneberry Credit, your monthly payments can be as low as $5.99 a month.
You can get pre-approved for credit instantly and start shopping for products based on the spending limit you are approved for. Stoneberry only does a soft credit check which doesn’t show up on your report.
You aren’t required to pay an annual fee, membership fee, or over-limit fee either. While Stoneberry does charge a late fee, you can be assured that it will never go over $15.
Pros
- Soft credit check
- No extra fees
- Low monthly payments
Cons
- Downpayment may be required
- Late fee
6. Ginny’s
Ginny’s is an online catalog offering bed and bath products, gift items, toys, kitchen items, home accessories, and more.
The best thing about Ginny’s is it offers financing options to consumers directly without needing a third-party provider. This allows them to extend credit as well as flexible repayment plans to those with a poor or zero credit history.
Making regular timely payments with Ginny’s has multiple benefits. For starters, Ginny reports your payment information to credit bureaus which can help build your credit score. In addition, their revolving credit helps you increase your approved credit limit in no time.
Their monthly payments start at $10 which is fair if you consider their offerings but is double what some other BNPL providers are charging.
Pros
- Flexible repayment plans
- Helps build your credit score
- Available to consumers with poor credit and no credit history
Cons
- Monthly payments start at $10
- A downpayment might be required
BNPL? Ring It Up!
From premium products catalogs to kids toys catalogs, there’s a wealth of products that you can own with a buy now pay later scheme. We hope our list has made you aware of just how many kinds of items you can get with BNPL. Here’s to great purchases and lighter payments!
What products are you going to shop for this 2022? Let us know in the comments below.
