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Buy Now, Pay Later and Build Your Credit with Perpay

Companies Like Perpay

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Last updated on July 23, 2021

Are you ready to re-build your credit and want to start buying some much needed purchases like back to school supplies, cell phone, tablet, or even household appliances like a fridge and washer dryer set but don’t have all the cash saved up yet? Perpay is a legit option to consider.

perpay credit building
image credit: Perpay.com

What is Perpay? 

Perpay is a credit building site and store all in one. Perpay let’s you make everyday purchases in affordable monthly installments and helps to build or in some cases rebuild your credit score along the way. The first step is to get approved based on your monthly income. They don’t run a credit check but instead verify your employment and income and then set a credit limit based on your salary. With this pre-approved credit limit you can then purchase anything you like within your budget. You make small payments from your paycheck each month until the balance is paid off. 

 

How does Perpay Credit Building Work? 

According to Perpay you can increase your credit score an average of 39 points when you pay off your balance as scheduled. Every payment you make on time helps build your credit history and your score can improve as quickly as 4 month’s time! Payments are made from your paycheck via direct deposit so make sure you have a steady paycheck and enough money each month to cover your basic expenses such as rent, utilities and food before committing to a Perpay withdrawal. Payments are withdrawn based on your pay cycle so yours could be every 2 weeks or monthly depending on your employer. You also have the option to make extra payments if you want to pay off early and make a new purchase through the platform. 

 To build credit you can choose to have your Perpay payments reported to the major credit bureaus, a consistent payment track record will increase your credit score over time. 

What Perpay Store Brands Can I Buy? 

Perpay partners with some of the biggest brands in Home, Electronics, Toys and Fashion to bring you top brand gear while you build credit safely. Shop Apple devices, Samsung phones, Michael Kors shoes, handbags and clothing, Nintendo Switch, Ashley Homestore sofas, bedroom sets and more! 

The one thing to know is you have to purchase through the Perpay App, you cannot use Perpay at checkout at these retailers.

Perpay prices for all these brand names are at a premium since you are paying for the credit building service. If you can afford to buy these items outright with cash or another Buy Now Pay Later service that has no fees you will save a lot of money. 

Is Perpay Safe?

Yes Perpay is legit, the products you receive are from the actual brand names. In order for your product to ship you do need to make the first payment via your payroll direct debit, this is the Perpay way of verifying income and employment. 

The one thing to really be careful of with any credit building products from loans to credit cards and buy now pay later services is that you have steady cash flow from your job and that you are totally confident you can make the monthly payments. 

Perpay does not charge late fees or additional penalties for late payments but they will send your non-payment status to the credit reporting agencies so if you don’t pay it will negatively impact your credit. 

Perpay Referral Program 

Perpay also offers a referral program where you can get up to $100 credit towards your first order. 

perpay stores
image credit: Perpay.com

Alternative Companies like Perpay 

If you are looking to build your credit after having bad or no credit there are some alternatives to Perpay, the closest legit option to Perpay for building credit would be Acima or  The Horizon Outlet. This site requires a card application and is also designed to build credit.

Lease to Own – Build Credit Alternatives to Perpay

For the most cost effective alternatives try any of the major Buy Now Pay Later Apps that offer no credit check approvals: 

Buy Now Pay Later Apps – Pay in 4 Alternatives to Perpay 

  • Afterpay – List of stores that accept Afterpay Buy Now Pay Later
  • Abuda – Buy Now Pay Later for anything on Amazon 
  • Sezzle – List of retailers that offer Sezzle Buy Now Pay Later
  • Klarna – Online stores that accept Klarna to Buy Now Pay Later
  • Affirm – Online stores that accept Affirm Buy Now Pay Later 
  • Paypal Credit 
  • QuadPay – Online stores that accept QuadPay
  • Shop Pay – Online stores that accept ShopPay by Shopify

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