How To Increase Your Afterpay Limit and Increase Your Spending Power
Written by
Kristopher Kane
Edited by
Melanie Grafil
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Afterpay initially allows you a spending limit of $600. However, it’s possible to get this limit raised.
How Afterpay Decides Your Limit and How To Increase It
Afterpay determines your account limit using various criteria, which include:
- Any purchases that were denied at checkout due to inadequate funds
- Speed of repayment for previous purchases
- Length of time you’ve had your Afterpay account
- Frequency of orders and payment history
If you’ve had an Afterpay account for a considerable period and regularly make all your payments on time, you may be eligible for an increased Afterpay limit.
However, if you have a history of late or declined payments, you may be assigned a lower limit or denied the service altogether.
How To Increase Your Afterpay Limit
Try these tips to help your chances of increasing your limit on Afterpay:
- Stay up-to-date on when your balance is due
- Pay off balances by that due date
- Avoid getting transactions declined
- Keep using Afterpay on a regular basis
Remember that there are many factors considered — including how old the account is, your payment history and your overall credit health.
What’s the Highest Limit for Afterpay?
The highest limit Afterpay will give you is $1,500 per transaction, and you can hold up to $2,000 of an outstanding balance.
As with other types of financing or lending, the limit Afterpay determines for your account is influenced by several factors, including your overall creditworthiness, the amount of your existing debt and your debt-to-credit ratio.Â
The Bottom Line
If you have a history of making all of your payments on time, it’s more likely that Afterpay will raise your limit. Because Afterpay looks at your credit history, make sure you’re not missing payments for other things, like your credit card.
When you’re ready to increase your Afterpay limit, be sure to keep these tips in mind.
FAQs on Increasing Your Afterpay Limit
- Can I request an Afterpay limit increase manually?
- No, Afterpay decides your limit on factors like payment history and how long your account has been open.
- Why did my Afterpay limit go down?
- If you were late or missed a payment, Afterpay might lower your limit.
- Does Afterpay check my credit?
- Afterpay does a soft credit check when you first open your account. This won't affect your credit score.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
