What is Spend Cap, and what is the difference between my Spend Limit and my Spend Cap?
Spend Limit is the Afterpay BNPL Credit Limit. This is the maximum amount you’ve been approved to spend with Afterpay under the Credit Contract as outlined in our General Terms.
Estimated Available to Spend
Your Estimated Available to spend is the amount you can spend under your Spend Limit using Afterpay, which you can view in the app and Afterpay website. It takes into account your Spend Limit, Spend Cap settings alongside any open order amounts and unpaid late fees. This amount is estimated and is not guaranteed.
Spend Cap is an app only feature that will allow you to cap your spending below your maximum Spend Limit, with a minimum of $100. It can be applied, updated or turned off by you at any time.
How does Spend Cap work?
Be in control of your Available to Spend Limit, with just a few simple taps in the Afterpay app.
- Open your Afterpay app and navigate to Settings in the My Afterpay tab and select Spend Limit, then select Spend Cap You will be prompted with a screen which displays the minimum and maximum spend cap. Enter in an amount below your maximum Spend Limit and the minimum of $100.
- Once you are ready to set your Spend Cap, tap Set spend cap.
Example:
Your Spend Limit set by Afterpay is $2500.
- You set your Spend Cap to $500.
- Let’s say you change your mind, so you set your Spend Cap to $800.
Your Spend Cap will be set to $800 instantly!
If the amount you owe is higher than your Spend Cap then your Available to Spend will show up as $0 until the amount you owe is less than the Spend Cap value.
What happens if I try to purchase over my Spend Cap?
If you attempt to make a purchase over your set Spend Cap or have reached your Spend Limit, you will receive a message saying that we cannot approve your order due to the amount being above your Spend Cap.
How do I update my Spend Cap amount?
- Open your Afterpay app and navigate to Settings in the My Afterpay tab and select Spend Limit, then select Spend Cap
- Change the Spend Cap amount to any amount below your maximum Spend Limit, with a minimum of $100, then tap Change Spend Cap.
Once you are ready to update your Spend Cap, tap Confirm amount.
Can my Spend Limit reduce below my Spend Cap?
Yes - The amount a customer has available to spend is estimated, and can be decreased due to various factors, which includes payment history and if you are making consistent on time payments.
How do I turn Spend Cap off?
You can remove your Spend Cap at any time by opening your Afterpay app and going to your Spend Cap settings and tapping Reset spend cap.
If you need more help or have any questions about the Spend Cap or Spend Limit, please get in touch.