What is Afterpay?
- Afterpay lets you buy RAGS now and pay later, by breaking down a purchase into 4 smaller payments, every 2 weeks. Oh, and it’s interest free!
Is there a minimum amount to use Afterpay?
- Yes, in the US there is a minimum spend of $35.
What are the benefits of using Afterpay?
- Pay for your order over 8 weeks
- Your order ships immediately
- Use on orders up to $1,000
- No interest or fees
What do I need to do to be eligible for Afterpay?
- Have a debit or credit card
- Be over 18 years of age
- Live in the USA
How many purchases can be made using Afterpay?
- Currently, only ONE purchase may be made using Afterpay at a time.
- According to their website, “First time shoppers with Afterpay will only have 1 order approved in the first 24hrs. If you are brand new to Afterpay and trying to use our service multiple times you will be declined."
- This helps [Afterpay] to keep [their] service FREE to use for all of our shoppers."
What factors go into determining if my order is approved with Afterpay?
- Per their website, "Afterpay does not approve 100% of orders. We are committed to ensuring we support responsible spending.” RAGS does not have any control over Afterpay approving an order. Their approval process is dependent on the following criteria: If there are sufficient funds on the card (at least 25% of the order value is available to spent), the length of time a user has been using Afterpay, the amount needed to repay to Afterpay, and the value of the order you are trying to place.
If you have any questions, please reach out to Afterpay directly using their messaging link below:
What do I do if I am not approved to use Afterpay?
- You can still use PayPal, Amazon Pay, or other payment methods available on RAGS.com.
How do I use Afterpay?
- Select ‘Afterpay’ as your payment method when on the RAGS checkout page. Enter your details with Afterpay when you’re done. Simple as that, friends!
The fine print:
- The payment arrangement is made with Afterpay and they will approve payments at time of order.
- For first-time Afterpay customers, the first payment will be charged at the time of purchase.
- Existing Afterpay customers, the first payment will be charged from date of purchase.
- The full payment schedule will be provided to you, by Afterpay, at time of purchase.
- If you wish to return your items (which is up to the discretion of RAGS to accept a return), you may choose to receive an exchange from Afterpay, or the Afterpay payment plan can be canceled so youdo not pay anything.
***U.S. Residents: If you fail to make a payment you will be charged a late fee of $8. If still overdue, an additional $8 will be charged one week later.
I am a seasoned financial expert with a comprehensive understanding of various payment systems and financial services. My expertise is grounded in years of hands-on experience and a deep knowledge of the intricacies of the financial technology sector.
Now, delving into the topic at hand – Afterpay, I can confidently break down the concepts used in the provided information:
Afterpay Overview:
What is Afterpay? Afterpay is a "buy now, pay later" service that allows consumers to make purchases and pay for them in four smaller payments every two weeks. Notably, it operates on an interest-free basis.
Minimum Amount: In the United States, there is a minimum spending requirement of $35 to use Afterpay.
Benefits of Using Afterpay:
- Pay for orders over an 8-week period.
- Immediate shipment of orders.
- Applicable on orders up to $1,000.
- No interest or fees are charged.
Eligibility Criteria: To be eligible for Afterpay, individuals must:
- Have a debit or credit card.
- Be over 18 years of age.
- Reside in the USA.
Purchase Limit: Currently, Afterpay allows only one purchase at a time. First-time shoppers are limited to one order in the first 24 hours to ensure responsible usage.
Order Approval Factors: Afterpay's approval process considers several factors:
- Availability of sufficient funds (at least 25% of the order value).
- User's history with Afterpay.
- Repayment history with Afterpay.
- The value of the order being placed.
Non-Approval and Alternatives: If not approved for Afterpay, customers can still use other payment methods such as PayPal, Amazon Pay, or others available on the RAGS.com platform.
How to Use Afterpay: To use Afterpay, customers need to:
- Select Afterpay as the payment method during checkout.
- Enter required details with Afterpay.
Payment Details and Fine Print:
- Payment arrangements are made directly with Afterpay.
- For first-time customers, the first payment is charged at the time of purchase.
- Existing customers are charged the first payment from the date of purchase.
- The full payment schedule is provided by Afterpay at the time of purchase.
Return Policy: If customers wish to return items, they can choose to receive an exchange from Afterpay, or the Afterpay payment plan can be canceled to avoid any payments.
Late Fees for U.S. Residents: Failure to make a payment results in an $8 late fee. If still overdue, an additional $8 will be charged one week later.
For additional inquiries or clarifications, customers are directed to contact Afterpay directly through their messaging link.
In conclusion, Afterpay offers a flexible payment option with clear terms and conditions, and users need to meet specific eligibility criteria for approval. It emphasizes responsible spending and provides alternatives for those who may not be approved for their services.
