Do you want to shop for top brands, but your credit score doesn\u2019t qualify you for buy now pay later plans (BNPL)?<\/p>\n\n\n\n
Perpay is made just for you!<\/p>\n\n\n\n
In this article, we\u2019ll tell you how you can use Perpay for purchases while building your credit score. Read on to find out more.<\/p>\n\n\n\n
Founded in 2015, Perpay is a shopping app with over 3 million users and over a thousand brands.<\/p>\n\n\n\n
The platform\u2019s main service is providing consumers the option to pay later for top-brand products while helping them build their credit. It\u2019s specifically targeted towards consumers who are struggling with zero and poor credit.<\/p>\n\n\n\n
With Perpay, consumers can have a spending limit between $500 to $2,000. After purchasing, payments are later deducted through their paycheck.<\/p>\n\n\n\n
Want to pay later with Perpay?<\/p>\n\n\n\n
Here\u2019s how to get started:<\/p>\n\n\n\n
You can now sit back, relax, and wait for your order to arrive. Your purchased products are shipped within 3 to 5 business days after you complete your first scheduled payment. This is typically when your next paycheck arrives.<\/p>\n\n\n\n
Note: If you can\u2019t find your company listed in the employer or payroll provider menu, you\u2019ll have to set up payments manually. To do so, close the menu and select the \u201cSet Up Direct Deposit on Your Own\u201d tab.<\/p>\n\n\n\n
Each time you make a scheduled payment, your standing with Perpay improves and you become eligible for:<\/p>\n\n\n\n
Let\u2019s take a closer look at some of Perpay\u2019s most popular features and how they compare with other pay later apps.<\/p>\n\n\n\n
Where most BNPL apps run credit checks, Perpay does not. It instead requires users to maintain:<\/p>\n\n\n\n
Most pay later apps charge users in some way when they miss a payment. In contrast, Perpay doesn\u2019t charge customers interest fees or other penalties.<\/p>\n\n\n\n
When you use Perpay, you no longer have to worry about missing payments every month since payments are automatically deducted from your paycheck.<\/p>\n\n\n\n
Perpay allows users to choose a monthly payment schedule of 4, 8, 16, or 18 payments. Since the payments are made from the user\u2019s paychecks, they\u2019re scheduled every month no matter the number of payments.<\/p>\n\n\n\n
Unless you\u2019re making an extra payment, Perpay does not accept payment methods other than direct payroll deposits.<\/p>\n\n\n\n
Extra payments can be remitted via credit cards or through a verified bank account on file.<\/p>\n\n\n\n
Yes. Perpay can help build credit. Perpay states on their website that their users can see their credit scores improve after a few months. This statement is based on over 5,000 Perpay members who saw their credit scores rise by 39 points on average from November 2020 to April 2021.<\/p>\n\n\n\n
How does Perpay help you build credit? Perpay reports your payment history to all three credit bureaus: Experian, Equifax, and TransUnion. However, this means delinquent payments get reported too.<\/p>\n\n\n\n
Perpay users can earn $200 when referrals make their first payment. The $200 credit is automatically applied to your next purchase as long as it\u2019s worth at least $300.<\/p>\n\n\n\n
In addition, Perpay also sends a $100 welcome credit to people using your personal referral link. This is applied to their next purchase of $250 or more.<\/p>\n\n\n\n
There are no limits to these incentives so you can send out as many invitations and earn as much credit as you\u2019d like.<\/p>\n\n\n\n
While Perpay might not be as big and popular as other BNPL apps, it has a wide range of products from top brands like:<\/p>\n\n\n\n
Thinking about joining Perpay? Here\u2019s a quick rundown of its pros and cons:<\/p>\n\n\n\n
If you have a poor credit history or don\u2019t have one, Perpay is a great BNPL service, especially if you want to improve your credit rating.<\/p>\n\n\n\n
We also love that Perpay doesn\u2019t require a credit check and payments are automatically deducted from our pay so we don\u2019t have to worry about making payments on time.<\/p>\n\n\n\n
Because of the way Perpay is structured and the way payments are remitted, the company has made BNPL accessible for everyone. If you\u2019re short on options and want to try BNPL, their service is certainly worth considering.<\/p>\n","protected":false},"excerpt":{"rendered":"
Do you want to shop for top brands, but your credit score doesn\u2019t qualify you for buy now pay later plans (BNPL)? Perpay is made just for you! In this article, we\u2019ll tell you how you can use Perpay for purchases while building your credit score. Read on to find out more. What Is Perpay? …<\/p>\n