Sezzle might be a good option for those with bad credit. Like most BNPL companies Sezzle doesn’t solely focus on traditional credit scores.
Instead, Sezzle will evaluate other factors to determine your eligibility.
Can You Use Sezzle with Bad Credit?
Yes, you can.
Sezzle will consider more than your credit score and history when reviewing whether to approve you for a BNPL loan. A positive payment history with Sezzle and currently being employed will be taken into consideration. In addition to what your monthly income is from your job.
Sezzle will also look into your current debt load by doing a soft credit check. This is industry standard as Klarna and Affirm also do soft credit checks.
Sezzle’s lending criteria varies though and WalletWell has no way to know whether you will get approved or not to use a Sezzle BNPL loan. We recommend you apply and see what they say.
Should You Use Sezzle with Bad Credit?
BNPL was setup for those that do have bad credit or those that fall outside of the traditional lending model. Some advantages to using Sezzle include.
Spread Costs
Sezzle, like most BNPL companies, allows you to split your payments into 4 equal installments with ease over 6-weeks for most purchases.
This allows you to spread the costs out while adding predictability to your spending. Just make sure to plan your finances around fixed payment schedules.
No Interest Fees
Do you hate how credit cards pile on fees? With Sezzle and BNPL you can say goodbye to that.
The best part of splitting payments into 4 is that it is an no interest loan.
Cons of Using Sezzle with Bad Credit
Some challenges you could face using Sezzle, or any BNPL service with bad credit.
Potential Account Limitations
With bad credit, Sezzle may set a lower spending limit on your account.
This means your purchase power might be small at first. However, you can increase and build that trust with Sezzle over time.
It’s hard for WalletWell to say if and how much you will be approved for. Sezzle bases these limits on many factors, not just what they pull with a soft credit score.
In the BNPL world the automated algorithms rule all.
Managing Sezzle Payments
With flexible payment plans, it can be easy to lose track of purchases and spending.
There are plenty of cases we hear at WalletWell about consumers racking up too many BNPL payment plans. Make sure you have funds available on due dates is critical to avoid any issues.
Sezzle will send out reminders, but monitoring your expenses is key to prevent overspending.
H, both my husband & I used Stocard, purely to store our loyalthy cards into one convenient app & not have to physically have the cards on hand. Carrying all the cards became a nightmare & Stocard provided the perfect app for us. We used it for carrying all our Coffee Cards, our Drivers Licence (for ID purposes), Super Card, Woolworths Rewards Card, AirNZ Card, Library Card, etc. We would never use this app for the purposes of paying anything at all. – never. Plus, both of us shared the coffee club loyalty cards on our own Stocard Apps, meaning either of us could use our own card, kept in the app & it would amalgamate all our points.
Has there recently been some upgrade or something. My husband went to get a coffee yesterday & his scan barcode wouldn’t work?
Even my own site is showing differently but I have realised that I have to just click on wallet.
I having been trying to help my husband get his back up & running & it said he had to login again – why?
It would really be appreciated if we received an email to advise of any change or upgrades. My preference would be to bring back Stocard, it was fantastic.
I would really appreciate hearing from you with an answer why my husbands site wouldn’t accept his barcode, we have both used our own numerous times without any issue, until this happened with him yesterday. He then lost the ability to store 1 more coffee on his card.
Please respond to my email address.
Regards, Faye
My storecard app on my mobile does not work. Since I moved over from my storecard app to Klarna I cannot log in to open my loyalty cards. Please help.
will we be transfered to Klarna automaticly