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Sezzle personal loans: 2023 Review

Updated on October 18, 2023
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At a glance

Rating: 4.8 stars out of 5
Bankrate Score
Caret Down
Rating: 5 stars out of 5
Rating: 4.8 stars out of 5
Customer Experience
Rating: 4.4 stars out of 5
Rating: 4.8 stars out of 5

About Bankrate Score

Sezzle offers buy now, pay later loans that allow you to pay down a purchase in four payments over six months. 

Loan amount $35-$25,000
APR from 5.99%-34.99%
Clock Wait
Term lengths 3-48 months

A Sezzle personal loan is ideal for those who want a buy now, pay later loan to finance a smaller purchase.

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Best for financing a small purchase

Sezzle is a mobile app that offers buy now, pay later loans that are paid off in 4 installments. It offers minimum interest rates starting at 5.99 percent and offers terms that start at 3 months and range through 48 months. 

The app also offers 0 percent interest options for certain borrowers depending on credit score, loan amount and term.

Sezzle pros and cons 


  • Checkmark

    No hard credit check required.

  • Checkmark

    Credit reporting available.

  • Checkmark

    Flexible payment options.


  • Close X

    Can encourage overspending.

  • Close X

    Rescheduled or missed payment fees.

  • Close X

    Payments may not be reported.

Do you qualify? 

Because Sezzle offers buy now, pay later loans rather than traditional personal loans, its eligibility qualifications are less stringent than what most other lenders require. For example, Sezzle doesn't run a hard credit inquiry, so your credit history and score will be unaffected when borrowing. However, it may report missed or late payments to a credit reporting bureau, which could negatively impact your credit. 

While it doesn't list minimum financial requirements, it does list that you must meet the following requirements. 

  • Have a verifiable email address. 
  • Be able to provide a non-prepaid payment method, like a debit or credit card. 
  • Be at least 18 years of age or older.
  • Have a U.S. or Canadian phone number that's able to receive text messages. 

What Sezzle doesn't allow loan funds to be used for 

Due to the nature of Sezzle, it has more restrictions than most traditional lenders. Among other examples, the company states that you can't use the funds for purchases related to:

  • Purchases that violate any law, statute or ordinance. 
  • Any financial services products, including collections payment or debt collection-related expenses.
  • Commodities for trade or gambling, including any activity with an entry free or prize.
  • Bail or bond products and services.
  • Digital money, virtual or cryptocurrency.
  • Selling and buying stocks and bonds.
  • Any purchases related to investments, including real estate and rent expenses.
  • Political party donations.
  • Non bona-fide related transactions.

There are also purchases that the company may require approval for, including:

  • Products or services that are age-restricted, like cigarettes, firearms and medications that can cause mental or physical and mental dependence.
  • Travel, freight vacation or experience-related expenses.
  • Digital file hosting or other related services.
  • Telecommunications services, products or services sold by telemarketing.

How this lender compares

Rating: 4.8 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
3-48 months
Min Credit Score
Not disclosed
Rating: 4.6 stars out of 5
Bankrate Score
APR from
8.99% – 35.99%
Loan Amount
$2,000 – $50,000
Term Length
36 to 60 months
Min Credit Score
Rating: 4.8 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
24 to 84 months
Min Credit Score

Sezzle vs. Old National

Old National is a bank that offers personal loans with rates ranging from 6.99 percent to 25 percent. Although they don't offer the option to pay in 4 like Sezzle, the bank does offer relatively low minimum loan amounts, starting at $2,5000. If you bank with Old National and are looking for a smaller personal loan, it may be worth looking into one of its loans if you're not beholden to the buy now, pay later model. 

Read a full review about Old National

Sezzle vs. Upstart

Upstart's personal loans don't subscribe to the buy now, pay later lending model but they do offer small loan amounts, starting at $1,000. The lender also doesn't have a credit score requirement and with regular, on-time payments, you could see a significant increase to your credit. If you're offered a competitive rate and are looking to grow your credit, Upstart may be the better option in the long-run.

Read a full review about Upstart

Sezzle: in the details

What we like and and don't like 

Sezzle's unique lending pay-in-four lending model makes it different from most traditional personal loans. For those who aren't too familiar with buy now, pay later lending, it can seem like a near-perfect personal loan alternative. However, like every other financial tool, there are downsides to be aware of. 

Here's what we like about Sezzle and what we aren't the biggest fan of. 

What we like 

  • No hard credit check required: Unlike most loans, Sezzle's application process doesn't require a hard credit check. However, your credit could be impacted should you opt into credit reporting and miss a payment. 
  • Credit reporting available. If you opt into Sezzle Up, your loan information will be reported to the three credit reporting bureaus. You can also increase your Sezzle credit limit with on-time, consistent payments with Sezzle Up.
  • Flexible payment options.  Sezzle has multiple repayment tiers to choose from. You can either pay off your entire balance in four installments over 6 weeks with 0 percent interest, over 2 weeks with 0 percent interest or you can pay monthly, split between 3 to 48 months. 

What we don't like 

  • Can encourage overspending: The fact that your credit will not be impacted by the application coupled with the convenience of the paying over time can encourage overspending if you're not careful. 
  • Rescheduled or missed payment fees. If you miss a payment, your account will need to be reactivated and you'll be charged a $10 fee. 
  • Payments may not be reported. Unless you opt in to Sezzle Plus, your payments won't be reported to the credit bureaus and you won't have the option of growing your score. 


How to contact Sezzle 

You can reach Sezzle's customer service department through emailing at any time. You can also speak to a customer service representative by calling +1 (888) 540-1867 from 9 a.m to 5 p.m. CT Monday through Friday. 

How to apply for personal loan with Sezzle 

The application process is fairly straightforward and will require that you download the mobile app. Here's how you can apply for a buy now, pay later from Sezzle. 

  1. Download the Sezzle app to your mobile device. 
  2. Search "for" and click on "personal."
  3. Click on "Pay with Sezzle." 

From there, your purchase will be split into 4 installments over 6 weeks or you can choose an alternative payment plan.

Features and additional perks 

Along with charging 0 percent interest for its shorter repayment terms and not running a hard-credit check, Sezzle offers the option to reschedule a payment for free. You can delay this payment for up to two weeks, which isn't an option that every BNPL lender offers. 

You can reschedule the payments up to three times, but you'll be charged a $5 fee for the second and third time you reschedule.

Fees and penalties

Sezzle charges a few fees, including the following:

  • Account reactivation fee: Up to $15
  • Rescheduling convenience fee: Up to $7.50
  • Card payment fee: Up to $5.00 (in certain cases)

Third party payment services, your internet service provider and your bank or credit union may assign applicable fees as well. These fees aren't controlled by Sezzle and will vary depending on the institution. 

Sezzle frequently asked questions 

How Bankrate rates Sezzle 

Overall Score 4.8 Explanation
Availability 5.0 Sezzle offers immediate funding, low loan amounts and no income or credit requirements.
Affordability 4.8 Most of the repayment plans don't charge interest, but there are other fees charged.
Customer Experience 4.4 Sezzle doesn't charge an APR with certain repayment plans, but it does have limited customer support hours.
Transparency 4.8 All of the fees and rates are disclosed, but prequalification isn't available.


To select the top personal loan lenders, Bankrate considers 20 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed over 30 lenders and gave each a Bankrate rating, which consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also took into account whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by 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.