Hey
I’ve used Afterpay before and love it but never used it on eBay as I’m always worried someone will scam me or something so I’ve always used PayPal so I’m covered if something goes wrong
Does Afterpay have anything like this or is it at your own risk like paying by credit card or bank
Does it apply for house purchases too?
Yes, and donuts
If you have to use afterpay you can't afford it.
probably
Some home loan providers (not all) don’t like seeing Afterpay on your bank statement and will use as an excuse to refuse a loan - use with caution.
They actually care more about the activity not whether you have an account, they ask to see transaction history etc
If you have an account thats rarely used they do not mind, they simply ask you to close it if they want it removed for their calculations on serviceability.
even an account used often is no issue, as long as payments are always made on time etc , they can take those payments as "extra available income" if they ask you to close the account.
Gym memberships and Pet Insurance have a much bigger negative impact on your loan application that a service like AfterPay does these days.
Pets cost on average $1650-$2500 per year to maintain and if they see insurance payments they consider this when processing your application.
Gym Memberships are seen as "Discretionary spending"
They also dig very deep into your Plans for a family etc these days, "are you planning on having children" "can you afford the loan if your partner is not working" etc etc
Uber Eats is seen in a pretty negative way by banks, but "buy now pay later" services are seen no different than Lay By and a lot of lenders own BNPL services or are part owners so do reject only on having then.
I agree and I am not saying not to use AfterPay
However, as someone which refinanced last month. When I had to hand over bank statements for the past 12 months, the only thing ING took exception to Is AfterPay. I use UberEats a lot, gamble online and pay for expensive pet insurance and pet food.
You’re correct they wanted to see my transaction history with AfterPay and insisted on me closing the account, therefore you should consider if you’re likely to apply for a loan soon before using AfterPay.
Oh yeah for sure :) Was not disagreeing with you was clarifying more than anything
So is it safe to use on eBay or if I want the security use PayPal?
Use PayPal. If you link with a credit card you have many days to pay in instalments of your choice :p
Yep I've used it several times so far without issue. Just remember to repay on time.
Yes. I use afterpay for everything. If there is a problem with a transaction you can contact afterpay.
Wait for it,
"If you cant afford to pay in one go then you should not buy it" comments are coming