Yes, Afterpay is a legitimate buy now, pay later company. It has an A rating with the Better Business Bureau, but a recurring theme in customer reviews is that Afterpay's customer support is difficult to reach.

Does everyone get approved for Afterpay?

Afterpay doesn't automatically approve everyone. There are specific criteria that the company will base approval on, like what state you live in, how old you are, what you want to finance and if you have sufficient funds on your credit or debit card.

What is the downside of Afterpay

Afterpay, like many buy now, pay later products, may encourage overspending. Breaking up a larger payment into installments may make it easier to spend over your intended budget.

How much money will I get with Afterpay?

Afterpay doesn't disclose a maximum funding amount for its pay-in-four feature. The amount you can borrow will depend on several factors, including previous shopping habits with Afterpay and the amount of open loans you have.

reviews

Afterpay Buy Now, Pay Later: 2024 Review

Written by

Hanneh Bareham

Edited by

Rhys Subitch

Updated on Jan. 9, 2024

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

Find my best rates

Check rate with Bankrate

4.4

Bankrate Score

Availability

4.2

Affordability

4.7

Customer Experience

4.4

Full methodology

Founded in 2014 in Australia, Afterpay has amassed over 22 million global users and over 240,000 merchant partners. It offers a single pay-in-four option and monthly payment option of U.S. customers outside of select states.

Lender Details

Loan amount

Not specified

APR from

0%-35.99%

Term lengths

6 weeks-12 months

Afterpay pros and cons

Pros

No minimum purchase amount
Access to rewards program
Financial hardship policy

Cons

Maximum amount not specified
Low app rating on Google Play
Only one way to contact customer service

Best for: Borrowers who only need six weeks to pay off their purchase

Because the only zero-percent option Afterpay offers is its pay-in-four one, it is best for those who can complete their payments in six weeks or less.

Do you qualify?

It's generally easier to get approved for an Afterpay installment plan than it is to get approved for a traditional personal loan. Instead of creditworthiness and repayment history alone, Afterpay — and similar BNPL services — base approval on usage and basic personal and financial information.

In order to be eligible, you must meet the following criteria:

At least 18 years old.
Resident of the U.S. and living in a U.S. state or Washington, D.C.
Valid and verifiable email address and mobile number.
Valid delivery address in the U.S.

The following factors are also considered when determining applicant eligibility:

How long you've been an Afterpay shopper.
How many Afterpay orders you've repaid.
If your card has sufficient funds for the first amount available to spend.
Number of loans you have with Afterpay.
Total cost of what you want to finance.
Overall value of what you want to finance.

How this lender compares

Afterpay vs. PayPal

PayPal's buy now, pay later loan offers a similar financing option. PayPal doesn't require a minimum credit score, and uses a soft credit check for its BNPL option. However, it offers a pay-in-four maximum of up to $1,500 with no interest, which may make it better for larger purchases.

Afterpay vs. Klarna

Klarna also offers BNPL options, however it offers both a pay-in-four and 30-day option with no financing charges. If you're looking to structure your payment as two installments over 30 days, Klarna may be the better option.

Earnest: In the details

Loan Amount

Not specified

APR from

0%-35.99%

Term lengths

6 weeks to 12 months

Funds available in

Immediately

What we like and what we don’t like

What we like

No minimum purchase amount: Some retailers may have a set minimum purchase amount, but Afterpay states that it doesn't.
Access to rewards program: Afterpay allows shoppers to make eligible purchases in store that can then translate to offers redeemable on future purchases made with Afterpay either in store or online.
Financial hardship policy: While not completely outlined on the website, Afterpay does have a financial hardship policy that protects shoppers regardless of the amount owed.

What we don’t like

Maximum amount not specified: The limit of Afterpay's pay-in-four option isn't provided.
Low app rating on Google Play: Afterpay has over 154,000 reviews on Google Play with an average rating of 3.8 stars as of January 2024. For an app-based service, this could spell consistent issues for Android users.
Only one way to contact customer service: Despite customer service being available seven days a week, there's only one way to contact Afterpay. The contact form is tucked away in the help section of the website, with no option to email directly, chat or call.

How to contact Afterpay

Afterpay can only be contacted online through a form submission. While the company states customer service is available seven days a week — minus a few holidays — it doesn't provide hours of operation.

How to take out a loan with Afterpay

Taking out a loan with Afterpay is a simple process that offers immediate acceptance or denial. You can either download the mobile app, create an account and start shopping with its approved online merchants, or you can apply through one of Afterpay's online partners.

When shopping through an online partner's website, you can expect to go through four basic steps:

If Afterpay is an accepted method, once you get to your cart at checkout, you'll have the option to select Afterpay as a payment option and create an account.
You'll then be guided through its application process, where you'll need to provide basic information, like your bank account or card information, proof of residency and your contact information.
The 0 percent APR option involves paying in four installments over six weeks. The first installment may be larger than the other three if you don't qualify for financing up to the full amount of the purchase.

For purchases over $400, you may be able to opt into a longer repayment plan of up to 12 months, which will have an interest rate above 0 percent.
You'll then be required to make your first payment and will be given set dates when your next payments are due. Afterpay will send reminders before a payment is due to keep you on track. You can also opt in to automatic payments to make the process easier.

Afterpay features and perks

The Pulse Rewards structure for Afterpay is closing in late January 2024, and a new loyalty rewards structure will be introduced. Under Pulse Rewards, shoppers earned rewards for paying off installment plans. The new loyalty rewards structure should be announced in early 2024.

Fees and penalties

Afterpay charges a late fee that is capped at 25 percent of the order value. If you don't believe you will make your payment by the due date, contact Afterpay customer support right away.

Afterpay frequently asked questions

Yes, Afterpay is a legitimate buy now, pay later company. It has an A rating with the Better Business Bureau, but a recurring theme in customer reviews is that Afterpay's customer support is difficult to reach.
Afterpay doesn't automatically approve everyone. There are specific criteria that the company will base approval on, like what state you live in, how old you are, what you want to finance and if you have sufficient funds on your credit or debit card.
Afterpay, like many buy now, pay later products, may encourage overspending. Breaking up a larger payment into installments may make it easier to spend over your intended budget.
Afterpay doesn't disclose a maximum funding amount for its pay-in-four feature. The amount you can borrow will depend on several factors, including previous shopping habits with Afterpay and the amount of open loans you have.

How Bankrate rates Afterpay

Overall Score	4.4
Availability	4.2	Having only one 0 percent installment option and not specifying the maximum amount that can be borrowed lowered Afterpay's score.
Affordability	4.7	Zero fees aside from a late fee and a rewards program make for a high score in this category.
Customer Experience	4.4	Support is available seven days a week, but only through an online form. And its Google Play rating is low compared to competitors.

Methodology

The Bankrate team did a complete analysis of the features and services offered by the most well-known buy now, pay later apps in the industry. Then our experts developed a scoring system to rate these apps, focusing on three main areas:

Availability: We look at the minimum and maximum loan amounts offered by the apps, as well as the number of interest-free plans they offer. Apps offering more than one interest-free plan and those with the most flexible loan amounts rank higher in this category.
Affordability: We evaluate the APR ranges apps assess on purchases once the interest-free period ends. Additional fees, exclusive perks and discounts are also rated. Apps with the lowest APRs, fewer fees and more perks obtain the highest scores in this category.
Customer experience: Purchasing flexibility, as well as return, exchange and refund policies are vetted in this section. Mobile app rating, number of consumer complaints with the CFPB and customer support are also taken into account. Apps with more flexibility and lower complaints rate higher in this category.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.