Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Afterpay is a financing company that offers point-of-sale (POS) loans. Shoppers can use these POS loans for online and in-store purchases at various retailers, such as Roots, American Eagle, and LUSH. They can then repay the loan in installments.
The firm originates from Sydney, Australia, where it was founded in 2014. Since going public in Australia in 2016, Afterpay has seen impressive growth, driven by consumers’ desire for alternative financing options in a market dominated by credit cards. The firm successfully expanded operations into New Zealand, the U.S, and the U.K. In August 2020, they made their debut in Canada.
Afterpay has been the go-to POS lender for tens of thousands of retailers and has provided loans to over 10 million customers.
Afterpay offers a payment plan called the Pay in 4, which allows you to divide payment for your purchase into four equal installments. The first installment is due at checkout, while the others are due every two weeks until the balance is paid in full.
In the meantime, Afterpay will forward funds to the merchant to settle the remaining balance. As a result, you can walk out the door with full ownership rights of your purchase.
Depending on how expensive your purchase is, you could elect to pay off a significant portion at checkout and defer the rest to bi-weekly installments. Once you establish a repayment history with no missed payments, Afterpay may permit you to make your first payment after two weeks rather than during checkout time.
Afterpay offers numerous benefits for shoppers looking to finance purchases:
Using Afterpay is like charging your purchase to a credit card. Eventually, you must pay the amount equal to the cost of your purchase.
Afterpay doesn’t levy interest charges on your balance. However, you’ll incur a late payment fee should you miss your payment deadline. A late payment fee of $8 is tacked onto your account ten days past the due date.
Suppose you find yourself unable to pay an upcoming installment. In that case, Afterpay will work with you to set up a new payment plan that fits your circumstances. You can initiate a conversation with an Afterpay agent by calling 1-833-386-0210 or creating a request using the “Get in Touch” form found here.
Afterpay also has a helpful feature called Part Payment, which allows you to pay less than the installment amount. To use this feature, follow these steps:
Signing up to use AfterPay is a quick and easy process, with no credit check involved.
The registration process begins once you make your first Afterpay purchase. At checkout, choose Afterpay as your payment method and enter the requested details, including your email and phone number.
Once you’re approved, Afterpay will set up your account, and you can proceed to make your first installment payment to complete the purchase.
The last step is to visit www.afterpay.com and create a password. Once complete, you’ll be able to use Afterpay for future purchases by inputting your login details at checkout.
To be able to use Afterpay, you must meet these eligibility criteria:
Afterpay is a POS lender whose service may or may not suit you, depending on your shopping habits and financial situation.
Afterpay is an easy-to-use POS service with flexible payment options. The user interface is intuitive and easy to navigate, and the lender has partnerships with a wide variety of retailers. The lack of double-digit interest charges is a welcome alternative, especially to shoppers looking to minimize their reliance on credit cards. And if your credit score is on the low end, you can still obtain financing since you won’t need to undergo a credit check when applying.
If you can keep up with your payments and spend responsibly, Afterpay’s unique form of financing can serve you well when you’re short on cash and credit.
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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