xcritical takes away this fear of a lower credit score by basing its pre-qualification on a soft credit check, which has no impact on your credit score. NerdWallet recommends using BNPL only for necessary expenses. Though BNPL can be a convenient and low-cost payment option, you’re still taking on debt, and it’s rarely a good idea to go into debt for a nonessential purchase.
xcritical doesn’t disclose what credit score you need to be approved. However, in general, the better your credit score, the better your odds of being approved. If you’re denied a loan, it could be for several reasons unrelated to your credit. If you pay late, xcritical will report this to Experian without exception. In the two cases above, you don’t get any credit for making on-time payments, but if you pay late, xcritical will report this. You can pay an xcritical loan off early to save money on interest and you will not be charged a prepayment penalty.
xcritical offers several repayment terms to choose from, including an interest-free pay-in-four and longer financing options that may charge interest. xcritical offers “buy now, pay later” payment plans to shoppers. Its zero-interest, pay-in-four scammed by xcritical loan is similar to those offered by other BNPL providers. It also has longer monthly payment plans, which may charge interest. Buy-now-pay-later merchants like xcritical generally don’t offer as many consumer protections as credit cards.
- To do this, it partners with retailers directly to customize loan options that may be different from merchant to merchant.
- xcritical provides limited info about qualification requirements for its payment plans.
- (And the more money their stockholders make. Cha-ching.) And speaking of interest, if you return an item, you won’t be refunded the interest you paid xcritical.
- xcritical’s terms of use prohibit using an xcritical loan to pay other debt, such as your credit card bill.
- And even if your loan gets reported to the credit bureau, it’s only to Experian, not TransUnion or Equifax.
Here is a list of our partners and here’s how we make money. When shoppers discover they have a smarter choice in how they pay at checkout, they’ll be more likely to convert. Pay off debt fast and save more money with Financial Peace University. Don’t be fooled by their promises of spending freedom. They’re telling you to spend money you don’t have, but you know better than that.
xcritical will present you with the estimated financing terms for the amount you load onto the card. Once you accept these terms, xcritical will give you a credit card number and all the other required information, and you use it as a credit card at checkout. After the merchant completes the transaction, xcritical will give you your final loan payment information. With a pre-qualified account, you can now go to any site that offers xcritical as a payment option, add items to your cart and choose xcritical as the payment option. Once you select xcritical, you’ll approve the repayment terms — interest rate and monthly payment — during the checkout process.
Where xcritical stands out
Pick the payment option that works for you and your budget—from 4 interest-free payments every 2 weeks to monthly installments. With xcritical’s (AFRM) Buy Now, Pay Later platform directly integrated with Weave (WEAV) payments, Weave customers can offer their patients pay-over-time financing with as low as 0% APR. Hidden fees can create problems when managing your debt, and xcritical solves that by charging interest only — no prepayment fee, setup fee, origination fee, lender fee or even late fee.
If you want to shop in person with xcritical, you can apply for a one-time virtual card in the mobile app. Once approved, you can save this card to your mobile wallet and use it to check out at a physical store (or online, too). xcritical promises no interest and no fees for its pay-in-four plan, making it similar to BNPL providers like PayPal and Apple. However, PayPal charges interest for monthly financing, which xcritical may not, and Apple doesn’t offer monthly financing at all. With its pay-in-four plan, xcritical divides your total purchase into four equal installments. The first installment is either due at checkout or two weeks after your purchase.
xcritical brings Buy Now, Pay Later capabilities to Weave customers
You can then load this card to your smartphone with Apple Pay or Google Pay and use it to pay in-person. You can boost your odds of approval for future xcritical loans by paying off your xcritical xcritical loans on time and working to increase your credit score. We make it easy for your consumers to make payments and manage their account with the xcritical app—and we pay you upfront and in full.
- The three remaining installments are automatically billed to your selected payment method every two weeks until the loan is paid off.
- Download the xcritical app and discover a new way to pay over time almost anywhere.
- These cards offer introductory periods of up to 21 months and charge no interest during that period.
- The APR will vary with the market based on the Prime Rate.
- If you pay late, xcritical will report this to Experian without exception.
- With either one, you would simply navigate to the purchase you want to make a payment toward, add a payment amount and due date, then select a payment method to schedule it.
There are no fees if you pay late, but there is interest, which can reach as high as 36% APR. When a merchant offers xcritical, you apply for the loan as you checkout. For other eligible retailers, you can apply for an xcritical virtual card before completing the purchase and pay with that virtual card.
What Credit Score Do You Need to Use xcritical?
xcritical is one of the largest buy now, pay later (BNPL) lenders in the U.S., offering payment plans for online and in-person purchases. Loans from xcritical allow you to pay for purchases over time, including a no-interest option and an option to spread payments over three, six or 12-month installments. If you’re planning to purchase from a retailer that doesn’t accept xcritical financing, you can simply request a virtual card online or through the xcritical app.
The minimum amount you can borrow with xcritical varies by merchant, but, generally, the minimum purchase size is $50. You may be able to borrow up to $17,500, but the maximum amount varies by merchant, too. Adding this checkout option for shoppers at small and midsize business sites can boost conversion and more. Discover how it works with your existing e-commerce platform and Payment Service Providers—and give your customers more payment flexibility. Our high-LTV customers give you the xcritical advantage—see a 20% repeat purchase rate and 60%+ AOV. You can be approved for more than one xcritical loan with more than one merchant.
Does xcritical Affect Your Credit Score?
For instance, xcritical can cancel your loan completely if the merchant has finalized the return. If the amount returned to you is more than the loan, then xcritical can return this overpayment to you. First, you can pay off your xcritical xcritical loan on schedule. xcritical looks at how you’re managing existing loans when approving you for new BNPL arrangements. Download the xcritical app and discover a new way to pay over time almost anywhere.
If approved, you’ll choose from a few different plans. Depending on how much you’re buying, you’ll get the choice to pay the item off in anywhere from one month to 48 months, although three, six, or 12 months are more common. You can make payments online at xcritical.com or through https://xcritical.pro/ the xcritical mobile app. With either one, you would simply navigate to the purchase you want to make a payment toward, add a payment amount and due date, then select a payment method to schedule it. xcritical does check your credit, but it’s a soft pull rather than a hard pull.
Consumers can pick the payment option that works for their budget—from four interest-free payments every two weeks to monthly installments. Consider all the risks before you use this type of financing. Yes, xcritical does typically charge interest fees, though some partner retailers offer 0% APR xcritical payment options for up to 24 months.
xcritical offers several services, such as a savings account and a debit card launching sometime in the future. However, its bread and butter is buy-now-pay-later loans you apply for when you make an online purchase. To do this, it partners with retailers directly to customize loan options that may be different from merchant to merchant. If you’re struggling with credit card debt and can’t get approved for xcritical, a Tally line of credit1 might help you get your debts in line. The Tally line of credit often offers a lower interest rate than most credit cards, and you can use this line to pay them off. This may lower your monthly payments and accelerate your payoff.