FAQs about Shop Pay Installments
Using interest-free Shop Pay Installments offers numerous advantages for shoppers, enhancing their purchasing experience while providing financial flexibility. Here are some compelling reasons to consider this payment option:
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Budget-Friendly Shopping:
Spread your payments over time without any interest, making it easier to budget for your purchases without feeling the financial pinch all at once. -
Immediate Gratification:
Acquire the desired items immediately without waiting until you can pay in full, enjoying your purchase while you pay over time. -
No Hidden Fees:
With transparent terms and no hidden fees, you'll know exactly what you're paying each month, ensuring no surprises. -
Enhanced Cash Flow:
By opting for installment payments, you can maintain a healthier cash flow and keep more money in your pocket for other essential expenses. -
Easy Approval Process:
Shop Pay Installments typically offer a straightforward and quick approval process, allowing you to make your purchase decision quickly. -
Boost Your Credit:
Consistent, on-time payments can positively impact your credit score, demonstrating your ability to manage credit responsibly. -
Convenience:
The process is simple and integrated into your checkout, making the transition from shopping to purchasing seamless and hassle-free. -
Empower Your Purchasing Power:
Even if you have the cash available, using interest-free installments can free up your funds for investment or other uses, optimizing your financial strategy.
You can enjoy these benefits by choosing Shop Pay Installments, making your shopping experience more enjoyable and financially manageable.
When checking out with Shop Pay, you now have the option to pay now or later. Paying in installments on Shop Pay allows you to split your purchase amount into four equal, biweekly installments with 0% APR or monthly installments with no hidden or late fees*.
*Rates from 0-36% APR. Payment options through Shop Pay Installments are subject to an eligibility check provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required. State notices to consumers affirm.com/licenses.
Debit and credit cards are accepted through Shop Pay for non-interest-bearing orders. However, you can only pay interest-bearing orders using a debit card.
Shop Pay Installments is only available to customers with a United States billing address and a United States cell phone number. Customers with international billing addresses or phone numbers cannot use Shop Pay Installments.
Yes, 17,500 USD is the order value limit for purchases using Shop Pay Installments, including discounts, shipping, and taxes (if applicable).
You cannot purchase gift cards using Shop Pay Installments. You must place two orders for gift cards and Shop-Pay-Installments-eligible products.
No, there are no late fees if you miss a scheduled payment.
There are no late fees for customers who miss a scheduled payment. However, partial or late payments impact your credit score or eligibility to use Shop Pay Installments in the future. Contact Affirm support for assistance if you have questions about a missed installment payment.
To request a refund, contact the store where you purchased your item. The store will advise if a return is possible using its return policy. If a return is possible, the store will suggest how much the refund will be. After your refund is processed, the refund amount will be applied to your original payment method within 3-10 business days, and your balance will be updated.
If your refund is less than your total purchase balance, then it might not lower your next payment. Instead, you can expect fewer payments, a smaller final payment, or both.
If your refund exceeds your purchase balance, the difference is returned to your original payment method within 3-10 business days.
If your order includes interest payments, the paid interest is not refunded. When you make payments, the funds are applied to the accrued unpaid interest and the principal. Interest is the cost of borrowing and is not refundable.
HAVE MORE QUESTIONS?
For questions about installment payments on Shop Pay, visit https://shoppay.affirm.com.
If you have any questions, please look at our FAQs section, where you will find the answers to the most common questions.
