Afterpay is a popular buy now, pay later platform that allows consumers to purchase items and pay for them in installments. While it can be a convenient way to manage purchases, it may also impact your ability to secure a home loan. This is why it’s important to know how to close your Afterpay account if necessary.
Have you been struggling to close your Afterpay account? Check out this Youtube video: “How To Close Afterpay Account – YouTube” for an easy step-by-step guide on how to do it.
How to Close Afterpay Account
If you’re one of those who are looking to know how to close an Afterpay account, below is a simple guide to help you out.
Step 1: Check Account Balance
Before closing the account, ensure that the balance is zero.
Note: Any unpaid payments or overdue fees will prevent you from closing your account.
Step 2: Log into Afterpay Account
You can log in to your Afterpay account via its app or on its website.
Step 3: Access Account Settings
After logging in, go to “My profile” to access your account settings.
Step 4: Close Account
Once you are in your account settings, click on the “Close account” tab and follow the prompts to close your account.
FAQs
What happens if I close my Afterpay account?
When you close your Afterpay account, you won’t be able to use it for future purchases. It is also possible that some lenders may ask you to close your Afterpay account before giving you a home loan. Even if they don’t, closing your account means one less potential expense that lenders consider when assessing your loan application. It could also create the impression that you are financially responsible.
What happens if I never pay off Afterpay?
Not paying off your Afterpay balances can result in several consequences. You may incur late fees, and Afterpay could decline future transactions until the outstanding balance is paid off. Afterpay may also pass on your debt to a debt collection agency, which can negatively affect your credit score. Moreover, you may be liable to legal action from Afterpay to recover the outstanding balance.
What is the max on Afterpay?
The maximum amount you can spend on Afterpay depends on various factors, such as your payment history, creditworthiness, and available funds. Usually, the maximum limit for Afterpay purchases is $2,000 AUD. However, Afterpay may approve higher limits for some customers based on their repayment behavior and creditworthiness.
Does Afterpay affect credit score?
Afterpay can affect your credit score, but it depends on how you use it. Afterpay may perform a credit check before approving your account, which can leave a record on your credit report. Additionally, if you miss Afterpay payments or default on your payments, it can negatively impact your credit score. However, if you use Afterpay responsibly and pay off your balances on time, it may have a positive effect on your credit score by reflecting your good financial behavior.
In Conclusion
Closing your Afterpay account can help improve your chances of getting approved for a home loan and create the impression that you are financially responsible. To close your Afterpay account, send an email to [email protected] with the subject “REQUEST TO DELETE MY AFTERPAY ACCOUNT” and include your user ID, email address, and reason for deleting your account. It is important to always stay on top of your finances and manage your accounts responsibly.
References
Here are some trusted links to help you with closing your Afterpay account: