What is APR?
The APR (Annual Percentage Rate) represents the yearly cost to borrow.
What is the APR for my order with a finance fee?
A finance fee is a component of the cost to borrow to determine the Annual Percentage Rate. Please refer to your Truth in Lending Disclosure included in your Loan Agreement that will outline the total finance charge and APR.
Why/ When am I charged a finance fee?
A finance fee may apply on Pay in 4 purchases with non-partnered merchants for single-use card purchases or gift card purchases made within the Afterpay App. The finance fee is a % fee, calculated as a percentage on the amount financed and split evenly across your 3 remaining installments.
How does it work?
- Shop and make a purchase with Afterpay with non-partnered merchants for single-use card purchases or gift card purchases
- A downpayment will be collected upfront (without any fee)
- Finance fee is calculated on the remaining amount (loan amount)
- The finance fee is distributed equally across the remaining 3 payments.
How do refunds work?
If a refund is owed to you with respect to a finance fee, the refund will be applied to your order and your purchase total will be automatically updated.
If you have paid your order in full, the finance fee will be refunded to your original form of payment.