Sezzle
Sezzle offers a repayment schedule consisting of four payments spaced out over six weeks to those that qualify. When you shop at a merchant who accepts Sezzle, you’ll pay 25% of the total cost of the item to Sezzle upfront, with the remaining payments split into three installments due two weeks apart. As long as you make your payments on time, there are no additional fees or interest. You will be charged a late payment fee if you pay late or miss a payment.
Be advised that the first time you use Sezzle, you may not be accepted for large purchases. The company bases your limit in part on your previous payment history with Sezzle. It claims that if you’re turned down for a Sezzle purchase, making smaller purchases over time might help build your credit with Sezzle. Remember that Sezzle does not report to the three major credit agencies, so no matter how much you spend through Sezzle, it will not affect your credit score.
Credit Cards Plans
American Express Pay It Plan It
When you charge your purchase to an eligible card, Amex’s Pay It Plan function allows you to split qualifying purchases of $100 or more into fixed monthly installments. On your account, you can aggregate up to ten purchases. Each monthly installment will contain a fixed monthly cost, which you can check before choosing if this is the appropriate option for you.
My Chase Plan
My Chase Plan allows Chase cardholders to divide the cost of a $100 or more transaction into equal monthly payments with no interest. Each monthly payment includes a fixed monthly fee. Payment plans range from three to 18 months in length, depending on the purchase amount, your creditworthiness, and your Chase account history.
Citi Flex Pay
Citi Flex Pay allows you to pay off a qualifying Citi credit card transaction over a predetermined period with fixed payments and a fixed APR. It’s part of Citi’s Flex Plan program, which also includes a Citi Flex Loan option, which allows you to borrow against the credit line on your card. Citi Flex Pay choices differ depending on the purchase, your Citi credit history, and the purchase amount. Because of the vast range of availability, pricing, and term lengths, Citi Flex Pay is more opaque than other credit card programs.
In conclusion
Buy Now, Pay Later options might be an excellent method to spread out the cost of significant purchases. But, before you sign on the dotted line, make sure to examine the charges involved thoroughly. Also, make sure that you will repay the loan on time to prevent interest and late fees.