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How Perpay Credit Card Enable You to Pay Later

Perpay credit card is a financing tool that lets you spread the payments for your purchases outside its marketplace.

The best side of using a buy now pay later platform is the ability to spread payments for purchases when you shop outside its platform.

Many of them turn to prepaid virtual cards allowing you to use your purchasing power anywhere to split costs and just like others, Perpay has a Mastercard for this purpose.

 Perpay Credit Card



Transaction Fee


Monthly Fee




Perpay Credit Card


Perpay is known for its no credit check when it comes to assigning shopping credit and it is a good option for those with active employment as it relies on your paycheck for eligibility.

The platform operates a close kind of financing as it previously allowed buy now pay later through its marketplace. Users were limited to buying products only when logged in on the Perpay app.

With its credit card, you can take your purchasing power and use it to shop other retailers both online and offline.

While this option promises 3% in cashback rewards when you make payments with it, there is a hidden 3% cost to use it.


Use your purchasing power outside the Perpay marketplace
It has a daily interest rate of 0.08079% (this can be waived during the grace period)
Total control is available through the app
3% transaction fee
Reloadable hence, good for monitored usage
There is a $9 monthly maintenance fee
Relies on your paycheck hence, no credit check is required
Penalty fee of $30 for late payment
Quick to get if you are an existing Perpay user
Calculated APR of 29.49%
It relies on your paycheck hence, no credit check is required
There is a $19 charge for every returned payment

Understand the Perpay Credit Card

Below explains everything you need to know regarding the use of the credit card issued by Perpay and how you can get yours.

 Interest Rate and Fees of the Perpay Credit Card

Before you apply for its buy now pay later card, it will be good to have an understanding of it before you proceed.

Here are the things to keep in mind:

Issuance and monthly maintenance costs

This will be charged the first time you create a card account and at the end of every billing cycle.

The recurring cost is $9 and will be added to your next billing once you create a Perpay credit card account.


Interest Rates

Perpay credit card interest rate is based on the Average Daily Balance method and it is 0.08079% daily.

What this means is that you will pay about 2.43% every month for used credit. This is equivalent to 29.16% APR, excluding other fees.

Annual Percentage Rates vary depending on what is called prime rate, an interest rate set by major banks and used as a benchmark for lending, influencing other loan rates, including those for consumers and businesses.

According to the Perpay Credit Card agreement, your interest rate can never be less than $1.


Transaction Costs

When using this buy now pay later card, it also comes with costs every time you use it for payment.

The fixed cost is 3% of the used amount, also known as the new balance which will be passed to you at the end of the billing cycle.

This cannot be less than $15; it is either 3% or $15 whichever is higher that Perpay will charge your account.


Returned payment fee

There is also what we call a “returned payment” fee when your account is not able to be charged regarding your repayment for the use of the Perpay credit card and it is $19 per case.

A returned payment occurs when auto payment through your connected paycheck details or other methods linked to your account is rejected or not honored due to insufficient funds or other issues.

To avoid this, ensure your account has enough funds on the due date to enable a successful debit for the new balance.


Late payment fees

The late payment fee is applied if your linked repayment method continues to decline auto-debits.

This fee stands at $30 but you can avoid this by monitoring your due date. When it is a payment-related challenge, you can check with the Perpay support team to provide an alternative repayment channel.

 Benefits of the Perpay Credit Card

Moving away from the fees and interest charges that apply to using the Perpay credit card for transactions, there are some other benefits that make it worth having.

Below are some of the advantages that come with the Perpay credit card:

You can use it to pay bills

With the Perpay credit. card, you can now enjoy the benefit of spreading the cost of your bills.

Most buy now pay later providers have limitations as to where you can use their virtual card but that does not apply with the credit card provided by Perpay hence, making it a big plus for bill payments.


Spread payment everywhere

This is the primary reason behind its credit card, to enable you to take your purchasing power to buy products outside its marketplace.

Being a Mastercard and usable for both offline and online transactions, you can seamlessly use the card to make purchases and defer payments almost everywhere.


No credit check involved

Just like how it allows sign-up without performing any credit check, the same thing applies when you request a credit card account.

Perpay relies entirely on your payroll direct deposit payment to assign a purchasing power that you can use to buy now and pay later through its marketplace and everywhere through its card.


3% cashback for marketplace shopping

With the Perpay credit card, you can earn a 3% cashback reward credit which will be added to your marketplace shopping balance.

Perpay Marketplace Brands

This 3% is not on purchases but rather, on repayment as you will earn this based on the amount you repay at the end of the billing cycle.

Does this cover the 3% cost of the transaction fee? It might be a good way to cover what you spend as a fee using the Perpay credit card but could be less as well and the cashback applies to the amount repaid not later than the due date.


Build your credit score

Similar to shopping through its marketplace, you also can build your credit score by using the credit card provided by Perpay.

It reports all your card repayments together with other activities to the major credit bureaus including Experian, Equifax, and TransUnion.


No interest grace period

You can actually avoid paying the 3% interest if you pay the full balance shown on your statement at the end of the billing cycle.

This is called a grace period, a specified period during which you can pay your outstanding balance without incurring interest charges, typically between 21-25 days after the billing cycle closes.

While this appears gold, you might be charged for any old balances if you default on your next statement.

Nonetheless, it is a good way to utilize the card without having to pay too much on a monthly basis.


 How to Apply for the Perpay Credit Card

If you have a Perpay account, this card is the best way to use your purchasing power outside its marketplace.

Below are the processes involved in applying for the card:

Sign up or log in to your account

You can only start the process when you have an account or have access to the dashboard.

If this is your first time, you need to know that there are certain things needed when creating your account to avoid being stuck on the Perpay login page.

Perpay Login Phone Number Verification

The platform does not allow signing up with virtual numbers hence, ensure to use a proper cellular network-provided mobile number when creating your account.


Shop the marketplace

Before you can apply for the Perpay credit card, it is required that you have at least one order approved through the marketplace.

Its marketplace is a shopping portal that has products from varying brands and as advised on the tips for quick approval on Perpay, you can start with low-value products as a new user and slowly grow your trust level on the platform before going for high-value items.


Connect your payroll direct deposit account

Perpay relies on your paycheck for automatic repayment as well as to determine your purchasing power based on the amount that comes into the account.

Before you can have any order from the marketplace approved, this must be successfully set up hence, your account will not be able to do much on the platform.


Repay for the order

Once your order has been approved, you will need to make the initial payment before shipment. This is usually done to ensure your payroll direct deposit account is properly set up.

Once you receive the package, you will need to repay in full before the access to request a Perpay credit card will be available to you.


Apply for the credit card

If you are able to complete the above steps, you will have access to request a Perpay credit card.

Simply head to your dashboard and look for the credit card option to start the process. Approval does not take time provided you have an order for which you already completed the repayment.

Perpay Credit Card Frequently Asked Questions

Below are some of the frequently asked questions regarding the Perpay credit card:

Is the Perpay credit card a single-use card?

No, the Perpay credit card is not a one-time valid buy now pay later card. It can be used multiple times and connected to any recurrent billing services.

Where can I use the Perpay credit card?

You can use the card anywhere Mastercard is accepted.

This is almost everywhere considering that Mastercard is accepted by most merchants both online and offline.

What items are eligible when using the Perpay credit card?

There is no restriction as to what you can purchase with the Perpay credit card.

You can use it to pay for anything provided that the location where you want to use it accepts Mastercard.

Is the Perpay credit card virtual or physical?

The Perpay credit card is a physical card with a virtual version sitting in your wallet.

So, you have access to it almost every time to use for splitting your purchase payments.

Will applying for the Perpay credit card affect my credit score?

No, applying for the Perpay credit card will not affect your credit score.

Just like its regular account, it relies on your payroll direct deposit details and your marketplace usage history to determine your eligibility for its credit card.

How can I cancel the Perpay credit card?

To deactivate your Perpay credit card, simply log into your dashboard and locate the card.

Under the menu items, look for the option and deactivate it if you no longer want the card. Alternatively, you can contact the Perpay support team for assistance.

Can I return an order paid for using the Perpay credit card?

Certainly, you just need to adhere to the merchant’s return procedures for a smooth return process.

When seeking a refund, request the merchant to refund the amount to the original payment method, the Perpay credit card.

After notifying the merchant of this, please reach out to the Perpay support team to inform them of the expected refund for a prior purchase.

Can I make repayments using my debit or other credit cards?

Though the primary repayment method is your payroll direct deposit account, if you have a situation that you think will not allow this to work, you can opt for an alternative method through your debit or other credit card.

To do this, you will need to contact the Perpay support team for set-up.

How can I update my information after changing my job?

If you have changed your job and are not able to update your details from the dashboard, you can contact the Perpay support team with the details, including the following information:

1. Name of the new company
2. Date of employment
3. Your new paycheck cycle (i.e. weekly, bi-weekly, or monthly)
4. Date of your last payday with your old company
5. Date of your first payday with this new company

Can I get the Perpay credit card if I am self-employed?

Unfortunately, you cannot get the credit card as a self-employed individual as Perpay requires you to have employment that pays you via payroll direct deposit.


Using the Perpay credit card no doubt comes with good benefits, especially enabling you to use your purchasing power outside the marketplace.

Nonetheless, commit to an early full balance pay-off to avoid paying interest fees at the end of the billing cycle.

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