How To Use Your Shopping Limit To Buy Now Pay Later

CredPal — Wed, 20 Apr 2022 12:25:07 +0000

CredPal’s buy now, pay later allows you to buy items without paying the entire amount at once. You only pay a portion of the price upfront and then spread out the remaining cost over a predetermined number of installments up to 6 months. Once your credit application has been approved, you will be given a shopping limit which you can use to shop from merchants who have partnered with us to accept buy now & pay later as a payment method.

We have created a system that accommodates all your small and big-ticket purchases from phones, laptops, TVs, electronics, home appliances, fashion accessories, and many more.

Here is a brief rundown of how to use your CredPal shopping limit to BNPL within the CredPal app online or offline (in-store).

How to use your shopping limit to buy now & pay later online

Below is the step-by-step process of how to use your shopping limit to buy now and pay later online.

Step 1: Log in to the CredPal app

Step 2: On the dashboard, click on the “Shop” icon at the bottom of the screen.

Step 3: Select any of the displayed merchants on your screen or search for a merchant in the search bar.

Step 4: Select the merchant you want to buy from and you’ll be redirected to the merchant’s website.

Step 5: On the merchant’s website, select the item you want to buy, add it to cart, and proceed to checkout.

Step 6: On the merchant’s checkout page, select “CredPal Buy Now Pay Later” as the payment method

Step 7: Sign in to your CredPal account on the CredPal checkout page

Step 8: Make a 30% down payment and get your item delivered to you.

Checkout with CredPal Buy now pay later

How to use your shopping limit to buy now and pay later offline (in-store).

Below is the step-by-step process of how to use your shopping limit to buy now and pay later offline.

Step 1: Walk into any of our partnered merchant stores such as Slot, Pointek, Oga Bassey, etc. (You can find the list of all our partner merchants here)

Step 2: Select any item of your choice.

Step 3: Let the merchant know that you want to pay using CredPal’s Buy Now Pay Later, then you can either scan the merchant’s QR code or use the CredPal payment link that will be provided by the merchant.

Step 4: On the CredPal payment link page, you will be required to log in to your CredPal account and provide your order information.

Step 5: You’ll need to pay 30% of the price of the product you wish to buy upfront as an equity contribution while CredPal will pay the remaining 70% which you can pay back over 6 months.

Step 6: Once that has been done, you’ll need to wait for approval from CredPal after which the merchant will hand over the item purchased to you.

Step 7: Pick up your item and enjoy.

CredPal in Justrite

Our Buy Now, Pay Later gives you the opportunity to get the things you need immediately whether online or in-store, while also getting a little extra time to pay for them over a period of time.

We hope that these steps will help guide you and provide more clarity in your buying process.

Source

The post How To Use Your Shopping Limit To Buy Now Pay Later appeared first on CredPal.

Buy now, pay later with bad credit history

CredPal — Sat, 26 Mar 2022 11:55:28 +0000

If you are an online shopper or internet user, you would have probably heard of Buy Now, Pay Later (BNPL). It is a payment option that allows customers to pay for an item in installments. It can otherwise be defined as an option that allows a person to buy things on credit and pay for them over time. No doubt buy now, pay later is becoming more popular. But is it safe to say that anyone can be approved of BNPL even with a bad credit history? Let’s find out.

What is credit history?

Credit history can be defined as a record of a borrower’s responsible repayment of debts. A credit report on the other hand is a record of the borrower’s credit history from a number of sources. Including banks, credit card companies, collection agencies and governments.

Can you be approved of BNPL with a bad credit history?

Because a credit history is a reflection of how well you’ve handled credit in the past, It definitely plays a role in getting approved to use buy now pay later one way or another. Although It can also be hard to say you will be completely written off because of this. The chances of being accepted solely depends on conditions given by the service provider.

Options to consider if you have a bad credit history

We recognize that not all customers will have a good credit history and so we give you the option of rebuilding your credit reputation with our secured credit card. Our Secured credit card is a card that helps you to build your credit reputation and gives you access to unlock our buy now, pay later services, which also makes it easier for you to access loans in the future.

How does the secured credit card work?

First off, you would have to deposit cash collateral of a minimum of N10,000. This will then help you to unlock CredPal’s credit card of the same value. After which you can then use the funds in your credit card and repay monthly for a period of 4 months. It is also important to note we would report your monthly repayment to the credit bureau to rebuild your credit score. After 4 months, your credit reputation will be rebuilt and you can access credit facilities easily from financial institutions.

Device Financing

Another option to consider if you have a bad credit history is device financing. Device financing is a way of spreading out payment for the purchase of a mobile device. We have introduced a plan that allows customers to get a phone instantly while spreading the cost in up to 6 months. You do not need to go through a thorough credit application process. All you need is to make a 40% down payment, fill out basic information and get your phone immediately.

How to get started

If you want to give this a try. Head over to gomobile.ng, select your preferred device and add to cart. Make a 40% down payment, and get your phone instantly with no hassle.

In conclusion, as much as having a bad credit history isn’t a deal breaker, it is also important to ensure that you take preventative measures to avoid a bad credit history. Because nothing beats having a clean record.