Finance

7 Pay In Installments Online Shopping Spots You Can Benefit From

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With more purchases and tighter budgets, pay in installments online shopping is definitely the right way to go for our shopaholic readers.

We all wish to quickly complete a transaction through our checking account whenever we make an online or in-store purchase. However, this might not always be possible.

When you can’t afford to move a chunk of money from your account immediately, you can always choose to pay in easy installment plans at best online stores.

Pay In Installments Online Shopping – The Best Picks

1. Amazon.com

Did you know that Amazon lets you divide the payments into 5 easy installments when you are shopping online?

Although this is applicable to only a collection of certain new products, the payment plan is actually quite friendly. You would have to clear the first installment when the order is shipped. As for the rest of payments, they come in every 30 days so you don’t have to worry about them for another month!

Amazon.com will not run a check on your credit report or ask you to fill out an application form. This service is free and open to everyone!

2. PayPal

PayPal “pay in installment” service is rather new. It was introduced in October 2020 and allows the customers to divide the payment bill into 4 parts.

Note! PayPal would only let you pay in parts if you have made a purchase of at least $30 and a maximum of $600.

You need to clear the first installment up-front after which the rest of the payments can be made over 6 weeks period. Furthermore, the total bill can be divided into more than four installments as per the user’s convenience.

You have to pay using your bank account number that you have linked to the PayPal account.

3. SplitIt

When you are talking about long-term installment plans, SplitIt is the way to go. It lets you divide the payments not over a period of weeks or months but even a couple of years!

When you choose to pay via SplitIt, the payment card can be chosen to clear the dues every 12, 18, or even 24 months! The payment will be automatically deducted from the linked card do you don’t have to worry about any missed due date.

4. QuadPay

You can pay in installments with QuadPay as long as you own a Visa card. In the sign-up process, you need to link the relevant credit card or debit card after which all your online purchases would be split into 4 equal payments.

Each payment is due after one and a half month and need to be cleared via the card that you have linked to the account. Similar to other services, there is not application form or credit check necessary for availing this offer. Moreover, the same installment plan applies to in-store shopping as well.

5. Afterpay

Afterpay works in partnership with many leading online stores.

If you happen to be a customer at any one of them then all you need to do is sign up with Afterpay and split the payments made through this platform into easy installments.

The offer is only valid for order up to $1000. The total cost would be divided into 4 payments and each would be due after 2 weeks. You don’t have to pay any extra fee as long as you make the payments on time. Otherwise, interest charges will be applicable.

Here, the Afterpay works much like credit cards interest rates. This means, there is no fee if the bill is cleared on time. Furthermore, like with some rewarding credit cards, Afterpay also lets you enjoy certain perks for being a responsible buyer.

6. Klarna’s

Klarna’s got the limelight when Macy’s decided to partner up with the platform and allow its buyers to use it in order to divide the purchases into 4 payments.

To our surprise, Klarna’s was not just limiting this perk to Macy’s online store. In fact, it could be used at almost all the leading places in the US with just one pre-requisite: instead of shopping at the store’s official website, you have to make the purchase via Klarna’s app.

In this manner, you can make the first payment at the time of the purchase and then continue to make the rest of payments after every 2 weeks.

This platform works by giving you a ghost card number which is equivalent to a certain amount in shopping. This limit may vary from person to person and can be increased or decreased depending on how responsibly you use it.

Therefore, if you don’t want to have an extremely low credit limit in the future, stick to good spending habits.

Attention! People who have signed up to Klarna’s loyalty program can earn bonus points in form of Vibes. 1 vibe is equal to $1 and can be used for the online purchase of gift cards.

7. Affirm

A number of convenient online retailers allows shoppers to pay via Affirm now. It is a payment option with plans spread over 3, 6, or 12 months.

However, there is a downside to choosing Affirm over other alternatives you might have. The company performs a credit check and may not be open to those who are struggling with a poor credit score.

Wrap Up

Pay in installments online shopping is a huge perk for those who can not afford to make a payment immediately. It relaxes the financial burden and allow buyers to clear the bill on easy, flexible terms.

In order to have the best experience, it is important to choose the right payment option. We can always vouch for services like PayPal and SplitIt that have been our favorite ever since!

Have you come across other “pay in installment” services that you liked? Feel free to share you experience with other readers on our page and keep us posted as well!

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