Understanding the pros and cons of Sezzle can help you make informed decision if using the Buy Now Pay Later (BNPL) service is for you.
Pros of Using Sezzle
Unlike credit cards using Sezzle gives you interest-free payments on purchases. Sezzle lets you split payments into 4 easy installments interest-free, like most BNPL services.
This approach makes it manageable to get a small loan for purchases that otherwise would go on annoying credit cards. Many users find BNPL to be useful to stretch dollars and paychecks further.
Easy Approval Process
Sezzle has an easy approval process that makes it accessible for a larger consumer base.
Most consumers that are applying for a Sezzle loan will receive approval almost instantly with a basic soft credit check.This won’t hurt your credit score even if you have bad credit.
Improv Credit Score
If you use Sezzle you can improve you credit score.
Sezzle reports successful payments to credit bureaus. There is a catch though, you need to be enrolled in the Sezzle Up program for the BNPL company to report to credit ratings firms.
Cons of Using Sezzle
Like any financial service or BNPL company Sezzle has some cons.
Sezzle Late Fees
Sezzle charges late fees for missed payments and failed payments that do not go through.
These fees can add up and negate the interest-free loan benefit, depending on how much your purchase was.
WalletWell recommends being careful with due dates on your Sezzle loans to avoid any issues. If you can’t make a scheduled payment, reach out to Sezzle customer support.
Impact on Credit
If you are missing payments, Sezzle will report to credit ratings agencies.
So Sezzle can have a negative affect on you credit score.
It’s up to you to make sure to make those schedule Sezzle payments.
Participating Merchants
Sezzle is a much smaller player in the BNPL space compared to Klarna, Affirm, Afterpy, and PayPal. That means it isn’t accepted with as many merchants and retailers.
Pros and Cons of Sezzle
Like any financial service Sezzle has it’s pros and cons.
Make sure to make an informed decision if using Sezzle is right for you. Weight the Pros and Cons for your financial situation.
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.