Afterpay does not require a minimum credit score for approval. Unlike traditional credit products, Afterpay is a "buy now, pay later" (BNPL) service that focuses more on your ability to make payments at the time of purchase rather than your historical credit behavior.
While a specific credit score isn't a prerequisite, Afterpay conducts a soft credit check or an internal assessment to determine your eligibility for each purchase. This check does not impact your credit score.
Afterpay Eligibility Requirements
To use Afterpay, you must meet several general requirements, regardless of your credit history:
- Age: You must be at least 18 years old (19 in Alabama or Nebraska).
- Residency: Be a resident of the U.S., including all 50 states and the District of Columbia.
- Contact Information: Have a valid U.S. address, email address, and a working cell phone number.
- Payment Method: Possess a valid and verifiable payment method, such as a debit card or credit card.
Here's a breakdown of Afterpay's key requirements:
| Requirement | Details |
|---|---|
| Minimum Credit Score | No minimum credit score required. |
| Residency | Available in all 50 U.S. states and Washington D.C. |
| Age | Must be at least 18 years old. |
| Administrative | Valid U.S. address, email, and cell phone number. |
| Payment | Valid debit or credit card for repayment. |
How Afterpay Works Without a Credit Score
Afterpay's model is designed to offer short-term installment plans without the need for a traditional credit application or a hard credit inquiry. When you make a purchase, Afterpay typically assesses factors like:
- Order Value: The total cost of your purchase.
- Available Funds: Whether you have sufficient funds in your linked payment method for the initial installment.
- Repayment History: If you are an existing Afterpay user, your history of on-time payments with them.
- Purchase History: Your track record of successful Afterpay transactions.
This approach allows individuals who might not qualify for traditional loans or credit cards to manage payments for purchases in four interest-free installments, usually paid every two weeks. For more details on Afterpay and its services, you can visit personal finance review sites like LendingTree.
