Using Afterpay should not affect your ability to be approved for other non BNPL, such as a home loan. When applying for a home loan, banks and lenders may undertake a range of checks to make sure that you can afford your future loan repayments, including accessing your credit report and asking you about your regular expenses. This may include your spending on Afterpay; but spending on discretionary items - which is what Afterpay is used for - should not affect how much you can borrow for your home loan. However, this is always subject to the lender’s credit criteria.
What happens if I’m told I have to close my Afterpay account in order to get a home loan approved?
If you do find this is happening to you, and you don't want to explore using another home loan provider, you can close your account with us at any time by simply requesting this via the mobile app or logging into your Afterpay account via desktop. Just make sure your account balance is at $0 before you follow the steps below. You will also be sent an email confirming the account is closed that you can show to your bank.
Once you’ve managed to get your home loan, and if you want to start using Afterpay again, you can reopen your account in the app or online portal following the same steps. We’d love to have you back.
Looking for steps to close or open your account? Click here.