How great would it be to buy something expensive online without having to pay the full purchase price upfront?
With Sezzle, you can complete your purchase, but commit only a fraction of the price at checkout. The rest of the outstanding balance is then paid over the next few weeks via installment payments.
Sizzle’s buy-now-pay-later service makes larger purchases more accessible, and there’s no interest to pay, either.
Let’s take a closer look at Sezzle to help you decide if it’s a service you could benefit from.
Key Points:
- Sezzle is a buy-now-pay-later service that lets you finance a purchase with no interest.
- With Sezzle, you can split your purchase into smaller payments over 6 weeks.
- Sezzle also offers its ‘Sezzle Up’ service that allows you to build good credit by allowing your installment payments to be reported to the credit bureaus.
What Is Sezzle?
Sezzle is a fintech firm that serves consumers in both Canada and the US. The company offers a buy-now-pay-later payment solution that allows consumers to pay for purchases through installment payments rather than in one lump sum payment upfront.
Unlike traditional installment loans, Sezzle’s buy-now-pay-later solution is an interest-free plan, and an increasing number of merchants are partnering with Sezzle to make larger purchases more accessible to consumers.
How Does Sezzle Work?
When shopping online with participating merchants, you’ll have the option to pay with Sezzle at checkout. Sezzle will show up as a payment option similar to PayPal or a credit card.
If this is your first purchase through this platform, you’ll be prompted to create an account, after which Sezzle will conduct a soft credit check and provide you with a near-instant approval decision.
Then, you’ll choose your payment plan, make the first installment payment at checkout, then complete your order. The payment you make at checkout will be considered your first payment. Then, you’ll make subsequent payments according to the payment plan you selected.
The number of installments and the time frame to make the installments depends on the plan you choose:
Pay In 4
Sezzle’s traditional payment plan involves 4 equal installments made over a 6-week time frame. The first installment is made at the time of purchase, and the subsequent payments are made via installments within the 6-week term.
Pay In Full
As the name suggests, the pay-in-full option lets you pay for the item in full. This can help you build a spending history with Sezzle.
As mentioned, there’s no interest charged for any of these payment options, nor any fees associated with the payment plan, as long as you make your payments on time.
Can I Return Something If I Purchased It Using Sezzle?
You’re free to return your item and get a full refund, even if you’ve financed a purchase with Sezzle. To get a refund, you’ll have to initiate the process with the merchant, who will then send the refund to Sezzle. Your payment plan will be updated, and Sezzle will email you with details about any changes.
The exact way that the refund works depends on whether you opted for a payment plan via installments or the pay-in-full option:
Refunds For Pay-In-4 or Pay-In-2 Orders
If you chose one of the installment payment plans, any outstanding payments will be cancelled. If you’re still owed money, the refunded amount will show up in your account within 10 business days after receiving a refund email from Sezzle.
Refunds For Pay-In-Full Orders
If you chose the Pay-in Full payment option, the refunded amount will be returned to your original payment method within 10 days of receiving the email confirmation from Sezzle.
You’ll still be required to keep up with your payments as per your agreement until the merchant processes your refund and Sezzle receives the funds. Whatever is refunded to you will cancel your outstanding payments. Anything left over will be sent to the payment method you chose when you initially placed your order.
If you receive store credit from your merchant, no changes will be made to your order. In this case, you’ll still be obligated to make your installment payments.
Do My Payments Go To Sezzle Or The Merchant?
Sezzle will pay the merchant in full on your behalf, so the order can be processed on the spot and fulfilled without delay. Then, you’ll pay Sezzle back through installment payments.
Other Buy-Now-Pay-Later Services In Canada
Sezzle is one buy-now-pay-later service provider you can choose, but there are other similar services available, including the following:
| Affirm | Learn More |
| Pay Bright | Learn More |
| After Pay | Learn More |
Your credit will not be affected when you create an account with Sezzle and use their payment service. As part of your account setup, Sezzle performs a soft credit check just to verify your identity. Soft credit inquiries have no impact on your credit.
However, Sezzle does have a feature called Sezzle Up, which allows you to have your payment history reported to the credit bureaus. That means you may be able to use your Sezzle payments to build good credit through timely installment payments by enabling Sezzle to report your payments to the credit bureaus.
Sezzle Up To Build Credit
If you want to use Sezzle to build or repair your credit score, you’ll need to enroll in Sezzle Up. By upgrading to Sezzle Up, you’ll enable Sezzle to report your payment history to the credit bureaus in Canada.
To enroll, follow these steps:
- Pay off your order in full and on time.
- Link your bank account or debit card as the default payment method for installment payments.
- Confirm your personal information.
- Enter your Social Insurance Number (SIN).
To check on how each payment is being reported, you can log into your account, navigate to the Benefits section, and choose “Sezzle Up”. Keep in mind that it could take up to 3 months for your Sezzle payments to be displayed on your credit report.
Benefits Of Using Sezzle
There are several reasons why you might want to opt for Sizzle’s buy-now-pay-later option when shopping online:
- Spread Out The Purchase Price. Rather than dumping a large sum of money in one payment upfront, you can keep much of those funds in your pocket and slowly pay the full price over a few weeks.
- Interest-Free. You can spread out your purchase over a longer period of time without paying any interest on the loan.
- Reschedule Payments. If you can’t come up with the money to make a payment by its scheduled due date, you can reschedule the payment for free. You can also do this twice more, though you’ll pay a fee per reschedule.
- No Effect On Credit Score. Sezzle will only conduct a “soft check” on your credit, which means your credit scores should not be affected.
- 48-Hour Grace Period. If you miss a payment, you have 48 hours to pay it and avoid a $10 charge.
Drawback Of Using Sezzle
While there are plenty of incentives to using Sezzle, there are a few drawbacks that you may want to consider as well.
- Down Payment Required. You’ll need to put at least 25% down toward the purchase price (which is the first payment of your 4 installment payments) in order to use Sezzle at checkout.
- Doesn’t Help Build Credit. Unless you enroll in the Sezzle Up program, you won’t be able to use your payment plan to build credit.
Where Is Sezzle Accepted In Canada?
You’ll have the option to pay using Sezzle at the following merchants in Canada:
| Retail Clothing | Kids | Shoes | Beauty | Accessories | Other |
| – Tobi – Jack Archer – Canada Weather Gear – Cake Worthy – Acta Wear – Crunchy Roll – Nana Macs Boutique – Fros and Bros – Sweet Southern Soul Boutique – Ballislife LLC – In Fine Feather | – Yellowhouse Kids Boutique – Proozy | -Keen -Inkkas | – Sigma Beauty – Bellami Hair – MakeUp Eraser – Perfectly Posh – Zala Hair Extensions | – Legacy Box – Monos – Tres Colori | – The Stainless Depot – Sportsman’s Guide – Lazarus Naturals – Legacy Box – Wine Chateau – EarlyBird Bedding – K9 Ballistics – Sezzle Travel – Black Wolf – Supplies Outlet – Zolt |
Sezzle Fees
There are no interest fees to pay on your loan, but there may be other fees charged in certain circumstances:
- Account Reactivation Fee. If you miss a scheduled payment and don’t make up for it within 48 hours, Sezzle may charge a $10 account reactivation fee where permitted by law.
- Rescheduled Payment Fee. We charge a rescheduling convenience fee of up to $5.00 to allow a User to delay the Payment Schedule (up to 2 weeks).
Are There Any Financing Charges?
As noted earlier, Sezzle does not charge any interest on purchases made with its buy-now-pay-later service.
Who Can Use Sezzle?
Qualifying for Sizzle’s services is easy. To use it, you only need the following:
- Be at least 18 years old
- Have an active phone number and email address
How To Sign Up For Sezzle
There are a handful of ways to sign up for Sezzle.
Online. Navigate directly to the Sezzle website and create an account using your mobile phone number and payment method (ie. credit or debit card, or bank account).
Mobile app. Alternatively, you can download the Sezzle app from either Google Play or the App Store.
At checkout. You can choose Sezzle as your payment method on the check-out page of any online retailer that has partnered with Sezzle. Then, you’ll create an account by entering your contact information and payment method.
Bottom Line
Sezzle can be a great tool to use if you’re looking for a way to avoid paying in full for an online purchase, but without the hassle that may come with credit cards or getting your credit checked for a loan. If you’re looking for an interest-free way to finance an online purchase, consider opening up a Sezzle account at your next online checkout.
