Sezzle review | Ascension

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What is Sezzle and how does it work?

Sezzle is an interest-free loan payments app that lets you shop online at participating merchants, buy whatever you want, and pay off your purchases in four installments over six weeks.

If you know that you are going to use Sezzle to make a purchase, you have the option of making your purchases through their app or website, or directly through a merchant’s online site. Suppose you make a purchase of $ 100. The first payment is usually 25% of the total purchase price, or $ 25. The next three installments will also be $ 25 until the debt is fully repaid.

Applying for a Sezzle loan will not impact your credit score because the company performs a “soft” credit check. If you’ve used Sezzle before and had difficulty making payments or had another issue, you may not be eligible for a loan. However, Sezzle offers an instant response regarding your request, so there is no waiting for a response.

The company also offers a program called “Sezzle Up” which allows you to opt for credit bureaus reports. This means that Sezzle reports your payment history to the big three credit bureaus – Experian, TransUnion, and Equifax. By making every payment on time, Sezzle Up gives you the ability to build (or rebuild) your credit history.

As a new customer, you may have a lower credit limit than expected. Over time, with a constant payment history, the credit limit will increase.

Although Sezzle does not charge interest on its loans, it can add fees in certain situations. Let’s say you make a payment with your debit card and the payment fails. The company will give you 48 hours to correct the problem, either by making sure there is enough money in your bank account to cover the payment or by making the payment some other way. If you cannot correct the problem within 48 hours, Sezzle charges $ 10.

When you first subscribe, you agree to a precise repayment schedule. Sezzle allows you to reschedule any of these payments for free. They charge a $ 5 fee for each additional deferred payment.

If the payment is unsuccessful, you will not be able to place a new order.

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