If you miss a payment, we will pause your account and you won’t be able to buy anything else with us until your payments are up to date. You may also incurr late fees.
You may notice that your spending limit has decreased too. This is because Afterpay takes into consideration a range of different factors when determining your spending limit. Your payment history is a big determining factor! If your spend limit changes, we’ll let you know via email.
It's important to understand that in New Zealand we are required to report late payments to credit bureaus, and this could negatively impact your credit score, you can read more about this here. Also, payments that are overdue for an extended period of time may result in Afterpay declining the use of our services or restricting your ability to use your account. If you would like to learn more about this, you can view our terms and conditions here under section 3.4.
If you cannot make a payment on time, you can reschedule your next payment by a week, up to 3 times a year, in the Afterpay app. If you’re facing financial difficulties, we encourage you to reach out to Afterpay's customer service team via the app as soon as possible. We have policies in place to support customers experiencing financial hardship, and we may be able to assist you with rescheduling payments or other measures to help you get back on track.