Does Afterpay let you skip the first payment?

Decoding Afterpay’s First Payment: Can You Skip It?

Afterpay, the popular buy-now-pay-later service, is known for its flexible payment plans. But many users wonder: can you skip the first Afterpay payment altogether? The short answer is nuanced. While you can’t entirely skip the payment, Afterpay may offer a short deferral on your first installment under specific circumstances.

The key factor influencing whether you get a delayed first payment is the purchase price. For purchases under $500 (excluding gift cards), Afterpay sometimes provides a grace period. This doesn’t mean you’re exempt from paying; instead, your first installment is typically pushed back by roughly two weeks. Think of it as a brief reprieve, allowing you some extra time to manage your finances before the first payment is due.

However, it’s crucial to understand that this deferred payment is not guaranteed. Afterpay’s system assesses each transaction individually, considering factors beyond just the purchase price. Your credit history, past Afterpay usage, and the merchant’s participation in the program all play a role in determining eligibility. Simply having a purchase under $500 doesn’t automatically guarantee a delayed first payment.

Furthermore, even with a deferred first payment, the total amount due remains unchanged. You’ll still owe the full purchase price, split into four installments over a defined period. The deferral only affects the timing of the first payment, not the overall cost or payment schedule.

Therefore, while the possibility of a slightly delayed first payment exists for smaller purchases, it shouldn’t be relied upon. Always budget carefully and factor in the full cost and payment schedule when using Afterpay. Assuming a deferred payment can lead to missed payments and potential negative consequences, including late fees and damage to your credit score. Always check your Afterpay app or website for the exact payment schedule and due dates for your specific purchase. Don’t assume a deferred payment; instead, plan your budget proactively.