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What is Sezzle and How Does it Work?

By February 18, 2022September 13th, 2022No Comments

Sezzle is a digital payment platform company that allows you to buy now and pay later with a simple interest free payment plan. When you have a Sezzle account you can shop at over 40,000 merchants and you do not have to worry about your basket size at checkout as you can split payments into 4.

Sezzle allows you to buy now and pay later simply-

  • Sezzle will ask for some personal details and run a soft credit check, not effecting your credit score
  • Once approved for your purchase, you put down 25%, the rest of the 75% gets split between your next 3 interest free payments paid every two weeks.
  • You can choose to connect your bank account, debit card or credit card to make your installment payments.
  • You can shop either using the checkout feature on participating retailers websites or shop through the Sezzle app.

Applying for Sezzle is simple. You just have to be at least 18 years old, have a mobile number in the United States or Canada that can receive texts and a working email address. You’ll also need an active bank account, debit card or credit card.

Once you’re approved you can begin shopping either on the Sezzle app or one of their many retailers available during checkout. You can rest assured with their interest free payment option.

What is Sezzle?

Started in 2016 Sezzle is a Buy Now Pay Later company that mostly functions online. However, they also offer the Sezzle Virtual Card which can be added to your Google Pay or Apple Pay and used for in store purchases offering their customers more flexibility for payment options.

Sign up ahead of time with the Sezzle app and browse through over 44,000 stores, with new stores being added all the time, that offer Sezzle as a option in checkout. Sezzle will ask for more information when signing up and run a soft credit check, which does not affect your credit score.

You can select Sezzle option while in checkout at many online shops. Using Sezzle you can split your purchase into 4 interest free payments.

The merchant is paid in-full immediately by Sezzle. The merchant has their funds instantly and is able to process your purchase. The merchant then fulfills your oder like any other purchase

This makes Sezzle a great option if you are looking at smaller online purchases and can afford a downpayment of 25%. As long as you can pay off the balance within six weeks based on the schedule, Sezzle is a great option for shopping at some of your favorite stores.

Sezzle makes it easy so you don’t have to pay interests and you can avoid paying any fees as long as you make interest free payments on-time. You’ll be glad you chose Sezzle.

What is the Catch with Sezzle?

There is no catch with Sezzle. Sezzle is interest free and only charges fees if a payment fails or you need to reschedule a future payment more than once per order. Sezzle sends notifications ahead of time so that you always know when the next payments are due.

Sezzle allows you to connect your bank account, debit card or credit card to make payments. Keep in mind that even if you make your payments on time by using your credit card you could still face interest charges.

Sezzle is very transparent and there are no hidden fees.

Sezzle is a great option when you want to finance a purchase and not worry about a hard credit check and signing up is easy. The company will ask you for your first name, last name, mobile number, email address and birthdate. You will have to create a PIN and agree to their user agreement.

Sezzle will then run a soft credit check.

Once you’ve confirmed your phone number through a security code Sezzle sends you, you will have to provide a billing address and confirm your email.

Sezzle will let you know how much money you have been approved for and you can begin to use Sezzle immediately after creating an account.

Is Sezzle the Same as Afterpay?

Both Sezzle and Afterpay are Buy Now Pay Later companies, and offer helpful solutions for but the biggest difference is the payment time between both services.

  • Sezzle is an online payment platform that offers customers to shop now and pay within 6 weeks
  • After you sign up Sezzle runs a soft credit check allowing you to pay in full later.
  • Sezzle requires that 25% be put down immediately as the first payment and then future payments be paid every two weeks.
  • Sezzle also allows customers to reschedule future payments once per order.
  • Sezzle does not have a minimum purchase order, it accepts all basket sizes.

While similar, Afterpay has some difference to Sezzle.

  • Afterpay is also an online payment platform, but they must be made within 4 weeks.
  • After you sign up, Afterpay runs a soft credit check allowing you to pay in full later
  • Afterpay allows customers to reschedule future payments once per order, with stipulations.
  • Afterpay has a minimum purchase order of $35.

The flexibility of Sezzle makes it a better payment option for when you need to shop.

Where Can You Use Sezzle?

Sezzle is an online payment solution and is available at 44,000 online retailers and works within the United States and Canada. Many consumers use Sezzle at Target as Sezzle offers a flexible payment option. Sezzle is a great payment option if you want to have a variety of different retailers to shop at. Sezzle has a variety of stores to choose from and as a consumer, you have the ability to support small businesses through the Sezzle merchant network, choose Sezzle at checkout and you can spread your payments over 6 weeks.

Consumers have the option to support boutique businesses and larger retailers through Sezzle’s many available retailers.

However, a consumer isn’t just limited to online retailers with the Sezzle Virtual Card. Sezzle Virtual Card allows you to connect it to your Apple Pay and Google pay and make Sezzle purchases at any box store where those payment options are accepted.

You can still use Sezzle and earn cash back rebates if you belong to shopping rewards apps like MyPoints or Swagbucks. If you’re going to use Sezzle anyway, and there’s a cash back rebate of 1% to 20% (or more), you might as well claim it.

Does Sezzle Hurt Your Credit?

If you’re using the standard Sezzle service, Sezzle does not effect your credit score. When signing up for Sezzle, Sezzle runs a soft credit check on you which does not effect your score at all. Sezzle is a great options for those who want a stress free solution to achieve financial freedom while managing a purchase through interest free installment plans.

Even with the payment solutions that Sezzle offers, it is important to spend responsibly and keep track of your next payment. It takes roughly a month and a half before an existing orders are paid in full.

You can manage existing orders through the Sezzle app. Login to your Sezzle account and you can see your purchase history. If you want to make an early payment to pay off your purchase sooner, you can. This makes Sezzle a very flexible payment option as there is no penalties for early pay off.

On the Sezzle dashboard, go to “orders,” “view order,” and then choose “pay now.” There you and quickly make 4 transactions to pay off the rest of your purchase.

Things to keep in mind when using Sezzle, if you need to reschedule a payment, you are allowed one reschedule per order. Don’t be late or miss a pay day, Sezzle charges a $10 fee. Sezzle does not run a credit check and does not effect your credit score.

You can also use Sezzle to start building a credit history. If you’d like Sezzle to report your payment history to credit bureaus, signing up for Sezzle Up allows you to opt in for reporting. Developing a history of on-time payments is essential to building a good credit profile.

How much Does Sezzle Approve You For?

After running a soft credit score check, Sezzle determines how much you qualify for. Most first time purchases are anywhere from $50-$200. Sezzle may up your limit overtime as you make more of your payment on time and the more you successfully use Sezzle.

Is Sezzle Safe?

Sezzle is a very safe. The company follows Payment Card Industry compliance standards to keep your personal information and purchases secure, so you can rest assured come checkout.

However it is important to keep track of your own finances because having the option to buy now and pay later can cause a consumer to spend more than they can afford. Even though Sezzle does not effect your credit score, it can still effect your budget if gone unchecked. Since Sezzle does have an overall lower limit, it is financially safer option for payment options.

What are the Pros and Cons of Sezzle?

Weighing the Pros and Cons of using Sezzle is a smart decision before joining.

Cons of using Sezzle

Sezzle does charge fees for failed or reschedule payments. If you miss a payment or have to move a payment more than once per purchase you will be charged a fee. Sezzle allows you 48 hours to make any missed payments, but missing the deadline, the company will charge you $10. After missing a payment, you will have to pay $5 every time you have to reschedule a payment.

In comparison to other Buy Now Pay Later companies Sezzle offers a lower limit for a new account which could limit options if a consumer wants to purchase a more expensive item and split the cost over 4 payments. In order to get a larger limit, you have to show that you can pay off smaller purchases first to build trust with Sezzle.

Another con to Sezzle is that it does have a tricky return policy. If you need to return an item to a merchant that you used Sezzle with or exchange for a different item the process must be handled by you.

You have to contact the merchant directly for any orders you return, cancelled or exchanged . If you don’t receive an order you will have to login into your account and click “Get Help” and email Sezzle’s team. It can take up to 3 days before the Sezzle team will get back to you and sometimes they can not help with the process.

If you have to return an order to a merchant, you’re responsible for contacting the merchant for a refund. Sezzle will not do it automatically nor does it guarantee that it can handle disputed orders.

Pros of using Sezzle

Despite the cons of Sezzle there are many pros to using Sezzle. When using Sezzle there you get to split your purchase into 4 interest free payments, which makes budgeting a breeze.

When signing up for an account Sezzle does not do a hard credit check, only a soft credit check, which does not effect your credit score.

The payment plan is simple and transparent and you can keep track on it through the Sezzle app.

Sezzle offers great flexibility with a 6 week payment option. Especially helpful for those who get paid every two weeks.

With every purchase you’re allowed reschedule future payments once, because sometimes life happens.

Final Thoughts on Using Sezzle

Sezzle is a great company if you would like to split your payments into interest free installment plans. Having the flexibility to buy now and pay later, is helpful if you need more manageable size payments.

Since Sezzle does not run a hard credit check and only a soft credit check, it is a perfect option for those who would like to keep the integrity of their credit score.

If you have any more questions or concerns about Sezzle make sure to look at Sezzle FAQ. There Sezzle can help you with any questions you may have in regards to starting a new account, declines and limits, returns, frauds and disputes and much more. You can also contact Sezzle directly if have any other questions that may not be on their FAQ.

With all the information above provided, Sezzle is a great option for someone who needs to break their payments into smaller chunks without incurring any interest while paying the purchase back.

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