Does Afterpay affect your credit score?

Short answer – no, as long as you’re using it responsibly.

Afterpay is definitely the current craze, with the buy now, pay later approach to purchases. It allows you to immediately buy a good or service and pay it off later in four equal installments over 8 weeks.

Afterpay don’t do a credit check before you apply and it won’t affect your credit history. However, in the fine print they do reserve the right to perform credit checks, and to report negative activity on your account to credit rating agencies. Just like any repayments system, if you miss a payment this could result in a black mark on your record and of course late fees.

Your best bet – manage your account properly to avoid getting stuck in financial trouble. Make sure you’re paying off all instalments on time and stick to your budget. Don’t get ahead of yourself and get stuck paying off what you can’t afford.

Still worried about your credit score? You can check this for free by contacting a credit reporting body (CRB) listed here on the government website.

If you would like more information on how your credit score can effect you when going for finance please call us on 1300 422 506 or visit www.newvisionfinancial.com.au

chrisbrown1224

Managing Director – New Vision Financial Services & New Vision Real Estate After years in the banking, finance & commercial sector Chris noticed that the industry needed a company with a personal touch that offered their customers a complete solution. In 2015 New Vision Financial Services was created to allow our consultants to use their experience (including approving and structuring large complex commercial transactions through to basic home loans) and to concentrate on offering a personalised service to their clients. With the growth and success of New Vision Financial Services a decision was made in 2019 to launch New Vision Real Estate to provide an end to end solution for client weather they be first home buyers or seasoned investors. Chris has built a team at New Vision Financial Services and New Vision Real Estate that have access to over 70 different lenders, insurers, lawyers, accountants and financial planners giving you more flexibility when making a decision. We offer a full service Real Estate agency offering Sales, Leasing, New Developments, House & Land and Commercial. Call me anytime on 0433 181 544 or email chris@newvisionfinancial.com.au The team at New Vision Financial Services have access to over 70 different lenders, giving you more flexibility when making a decision. Our consultants have had extensive experience within the banking, financial and corporate sector. At New Vision Financial Services we specialise in finance lending for home, investment, business, commercial, asset, debtor and many other requirements. As New Vision Financial Services has progressed, we have developed strong relationships with professional service providers such as; Financial Planners, Accountants, Settlement Agents, Leasing & Equipment Providers, Debt Management Specialists and any more to allow our clients access to a complete suite of services.

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