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Key takeaways
- Buy Now, Pay Later (BNPL) apps let consumers spread out the cost of a purchase over time with little to no fees and no credit check.
- Perpay is unique in that it’s also a credit builder app that debits your payments from your direct deposit so you never have to worry about missing a due date.
- Perpay is ideal for consumers who cannot access traditional credit cards, need to build credit, and want to pay for large purchases in installments with no interest.
Credit cards are a convenient way to finance big purchases when you don’t have enough cash in your bank account. The problem is, that they tend to come with sky-high interest rates, which can make that purchase very expensive if you’re unable to make all your monthly payments on time and in full.
Buy now, pay later (BNPL) apps offer a solution. These apps have surged in popularity in recent years as an alternative to credit cards because they let users spread the cost of a large purchase over several months interest-free.
Perpay is the latest BNPL app that not only allows customers the flexibility of paying for a product over time but also helps build credit!
Ready to dive in and see all that Perpay has to offer? Let’s get started.
What is Perpay?
Perpay is a buy now, pay later platform with a twist – it’s also a credit builder app and has its own e-commerce marketplace. Users can shop top brands – Apple, Nintendo, Coach, and KitchenAid, to name a few – and make purchases with manageable installment payments, similar to other BNPL apps. However, Perpay goes the extra mile with Perpay+ by helping users build their credit history while they shop.
Buy what you want now, pay later!
Get a $1,000 spending limit.
No credit check, no interest, and no fees!
How Does Perpay Work?
The process is simple and user-friendly. Here’s how it works:
Create an account
Shop Perpay’s Marketplace
Submit your order to Perpay’s Approvals Team
Select how many payments you’ll make
Make payments automatically from your paycheck each payday until your purchase is paid off
Perpay ships your order as soon as you’ve made your first payment
Enjoy your items when they arrive
Creating a Perpay account is straightforward and does not require a credit check or a security deposit. Simply enter your employer information, how much you make, and how frequently you are paid. Perpay will then give you a spending limit, typically between $500 to $2,000 and you’re free to go shopping on their marketplace.
When you’re ready to check out, you’ll have to submit your order to Perpay’s Approvals Team for review. The process usually only takes a few minutes but it can be as long as 2 business days. Once approved, they will help you set up direct deposit. Perpay’s installments are flexible. You can choose to make 2, 4, or 5 payments.
The beauty of Perpay is that your payments are automatically deducted from your direct deposit paycheck so you’ll never miss a payment. If you’re a Perpay+ member, these payments will be reported to the three major credit bureaus, helping you build a positive payment history and improve your credit.
Best Selection & Helps Your Credit
“Absolutely love this place. They have helped me get large amount items now and pay over time. I now own a 55 inch TV, newest xbox, rug scrubber and now a ps5. I would recommend it to anyone and it also helps your credit as you pay the items off. Amazing!!!” Ashley Russell, Google Play ReviewWho is Eligible?
To become a Perpay member you do have to meet a few requirements:
- Be over 18 years old
- A legal resident of the United States
- Be employed full-time (disability income is accepted)
- Get paid via direct deposit
- Have three months of continuous employment with your current employer
- Own a working mobile phone
- Have no active bankruptcies
- Be in good standing with all financial obligations
Unfortunately, Perpay is unable to accept independent contractors, gig workers, or people who are self-employed at this time due to their reliance on direct deposits to automatically make payments.
What Can You Get on Perpay?
Perpay offers a diverse range of products from top brands including Apple, Dyson, Gucci, Ray-Ban, Sony, and more.
- Electronics: From smartphones to laptops, Perpay has the latest tech gadgets.
- Appliances: Upgrade your home with new kitchen appliances or a washer and dryer.
- Fashion: Stay stylish with clothing and accessories from exclusive brands.
- Home Decor: Spruce up your living space with furniture and decor items.
- Fitness Equipment: Achieve your fitness goals with exercise machines and accessories.
- And More: Perpay’s inventory continues to expand to meet various consumer needs.
Who is Perpay Best For?
Perpay is an ideal solution for people who have limited or no access to traditional credit cards, need to build credit, and want to pay for large purchases in installments without accruing high-interest charges.
Perpay stands out among other BNPL apps because it aims to help members improve their credit and offers more flexible repayment plans. A lot of other BNPL apps limit you to a “pay in four” option. With Perpay, members can choose how many payments they want to make and these payments are automatically deducted from their paycheck so there’s no fear of missing payments, incurring late fees, or paying interest.
New
SO EASY
“Set it and forget it! Didn’t even miss the money! Cause i never had it in my hands. SO EASY! Paid off an AC unit… my credit score sky rocketed! Now… I’m buying a fridge!” Katherine Bell, Trustpilot ReviewHow Much Will Perpay+ Rebuild Your Credit?
Perpay+ has helped members raise their credit score by 39 points in as little as 6 months! Individual outcomes will of course vary.
Perpay+ is successful at building credit because it helps establish a positive payment history, increases members’ credit limit (lowering their credit utilization ratio,) lengthens their credit history, and adds to their credit mix. All of these are important factors in determining credit score.
For members to build credit, they do have to sign up for Perpay+. They can signup right away but it will not start reporting to the credit bureaus until they have completed 4 months of on time payments the total of which must exceed $200.
With Perpay+ members get credit building, credit monitoring, unlock smaller payment options, can apply early for the Perpay credit card, and access a higher spending limit over time.
Boosted my Credit
“Awesome app love that it gave me credit when nobody else would. I’ve been able to buy the things I want and my credit have increased 43 points since starting with them.” Steven Nieto, Google Play ReviewIntroducing Perpay on the Go
Perpay recently introduced the Perpay Credit Card to further help members improve their credit scores. Use the card on the go, anywhere Mastercard is accepted, not only on the Perpay Marketplace.
There is no hard credit check when customers apply for Perpay’s credit card. Instead, the company approves applicants based on their employment, income, and Perpay payment history. This makes it one of the easier credit cards to be approved for.
Perks of the Perpay Credit Card:
- Swipe anywhere Mastercard is accepted
- Applying will not impact your credit score
- 3% rewards to use on the Perpay Marketplace
- Credit lines starting at $500
At the end of the month, payments are automatically deducted from the user’s bank account. This is very similar to when members shop on the Perpay Marketplace. It helps establish a positive payment history therefore raising their credit scores. Of course, you need to have enough money in your bank account so it doesn’t overdraw.
While the credit card lets customers shop anywhere and build credit, it is limited. They cannot use it for ATM withdrawals, cash advances, or balance transfers. Otherwise, it is a low fee helpful credit-building card with the buying power of Mastercard.
Awesome App
“This app is awesome. It lets you finance just about anything without credit. In fact, it builds your credit. My score went up 80 points in 1 year. You just set the payment and forget it. And your item ships after the first one. Before you know it, it’s paid off. Yeah, the items might have a slight mark up, but they don’t charge interest. So that’s just their fee. And they’re entitled to it. They buy the item for you and have it shipped to your house. And you pay them back in payments.” Jacob Ferguson, Google Play ReviewIs Perpay Worth It?
Perpay is absolutely worth it if you want to build credit without a credit card or are interested in a BNPL app where you don’t have to worry about due dates. The BNPL app will effortlessly help you raise your credit score by reporting your on time payments to the credit bureaus. If you don’t like credit cards or don’t trust yourself to use them responsibly then Perpay+ is a valuable credit building alternative.
On the other hand, Perpay’s automatic deductions from your direct deposit paycheck mean that you’ll have less money each payday. For some people it’s worth it, for others it’s a concern. Consumers have also pointed out that some items on Perpay’s Marketplace are more expensive than at other stores. This is the cost of credit building and needs to be taken into account.
Want to build credit without a credit card?
Final Thoughts
If you want to make purchases in installments and build your credit at the same time, Perpay+ may just be the answer you’re looking for. The innovative buy now, pay later app doesn’t charge mandatory fees, interest, or conduct a credit check. It even helps you pay off your loan responsibly with automatic deductions. This makes managing your payments a breeze and can help you build credit. If your considering a BNPL app, give Perpay a try.
