9 Best Buy Now, Pay Later Options of 2020

Retailers may directly offer “buy now, pay later” options to their customers in partnership with a bank, but most choose to use a third-party financing option like Afterpay or Affirm. This can be beneficial to the customer; since these companies partner with a wide variety of retailers, you may be able to finance purchases at several different stores with the same buy now, pay later account. Below, we detail the best buy now, pay later options available, including their fees, terms, and where you can use them.

What We Recommend

There’s a variety of buy now, pay later options available to suit your particular needs. The overall best option in Quadpay, which is available at the widest number of stores; you can use it anywhere that accepts Visa, both online and in stores. Quadpay also offers no interest, low fees, and a simple repayment schedule (with four installments paid over a six-week period).

For an inexpensive option, consider Splitit, which allows you to split payments on a credit or debit card that you already have. It doesn’t charge separate interest, fees, or a down payment — you’ll only be subject to those charged by your credit card issuer or bank. This means that if you pay off your purchase quickly and don’t make any late payments, you can save on your total cost compared to other buy now, pay later payment options.

If you want several different repayment options to choose from, Affirm is the best choice, with terms of three, six, 12, or 48 months. Additionally, several of the companies listed below allow you to avoid a credit check: Afterpay, Splitit, and Zebit.

Comparison Table

Compare the companies that offer buy now, pay later financing in the table below. Note that the table is sortable by any column using the arrow buttons at the top. You can also click each company name to find more information on our list below.

Company Repayment Period Credit check required? Down payment required? Interest Fees
Quadpay 8 weeks Soft check No, but first payment is due at checkout None $1 convenience fee per installment and late fees of $5 to $10
Afterpay 8 weeks No Varies based on your purchase amount, limit, and Afterpay history None Late fees up to 25% of the order value
Klarna 4 to 8 weeks Soft check No, but first payment is due at signing if you choose four installments Varies by plan; up to about 20% Late fees up to $7 and missed payment fees up to $35
Splitit Up to 24 months No No, but first payment is due at checkout None None
Sezzle 6 weeks Soft check No, but first payment is due at checkout None $5 payment rescheduling fee and $10 failed payment fee
ViaBill 4 months Soft check No, but first payment is due at checkout None Late and missed payment fees up to $40
Zebit Up to 6 months No Yes; varies based on purchase amount None None
Progressive Leasing 3 or 12 months Soft check No, but first payment is due at checkout None Late and returned payment fees up to about $30
Affirm 3, 6, 12, or up to 48 months Soft check Only if you don't qualify for the full purchase amount Varies for each purchase None

The List

We rank the list of buy now, pay later payment options starting with the overall best based on where you can use it, as well as the credit requirements, repayment options, and cost. Note that we don’t consider the spending limit in our overall ranking since it often varies on a case-by-case basis.

1. Quadpay

  • Valid at: Anywhere Visa is accepted online or in stores[1]
  • Spending limits: Vary on an individual basis[2]
  • Credit requirement: No set minimum score; doesn’t require a hard credit pull[3]
  • Down payment: None, but your first installment (25% of the purchase price) is due at checkout[4]
  • Repayment period: Four installments; one due every two weeks[4]
  • Interest: None[4]
  • Fees: Late fees of $5 to $10; $1 convenience fee per installment[5][6]
  • Find out more

2. Afterpay

  • Valid at: More than 4,000 stores/brands, including Finish Line, Free People, Roxy, and Too Faced[7]
  • Spending limits: Vary on an individual basis and may increase or decrease after you establish your account based on your payment history[8][9]
  • Credit requirement: None; doesn’t require a credit check[10]
  • Down payment: Varies depending on your purchase amount, spending limit, and whether you’ve used Afterpay before; you may need to pay your first installment at checkout[11][12]
  • Repayment period: Up to eight weeks (four installments, with one due every two weeks)[10]
  • Interest: None[13]
  • Fees: Late fees up to 25% of the order value[13]
  • Find out more

3. Splitit

  • Valid at: More than 300 online retailers[14]
  • Spending limits: Vary depending on your existing credit limit[15]
  • Credit requirement: None; Splitit uses your existing debit or credit card rather than a new line of credit, so it doesn’t require a credit check[15]
  • Down payment: None, but you’ll make your first installment payment on the day of purchase[16]
  • Interest: None unless charged by your card issuer[17]
  • Fees: None unless charged by your card issuer[17]
  • Find out more

4. Sezzle

  • Valid at: Hundreds of stores ranging from independent stores to major brands like UGG and Jessica Simpson[18]
  • Spending limits: Vary on an individual basis[19]
  • Credit requirement: No set minimum, but Sezzle performs a soft credit check when you apply[20]
  • Down payment: None, but your first payment is due at the time of purchase[21]
  • Repayment period: Four payments over six weeks[22]
  • Interest: None[23]
  • Fees: $5 payment rescheduling fee and $10 failed payment fee[24]
  • Find out more

5. Klarna

  • Valid at: Any U.S. retailer if you use the Klarna app; also available on participating store websites like Sephora and Finish Line[25][26]
  • Spending limits: Vary on an individual basis[27]
  • Credit requirement: No minimum score;[27] requires a soft credit check if you choose to pay in four installments[28] and will run a hard inquiry if you accept monthly financing.[29]
  • Down payment: None for the “Pay in 30 Days” plan; if paying in four installments, you’ll pay your first installment when the order ships[30]
  • Repayment period: Varies; usually offers four installments or the option to pay in 30 days[31]
  • Interest: None for most plans;[32] up to about 20% for monthly financing offers[33]
  • Fees: Late fees up to $7 and missed payment fees up to $35[31]
  • Find out more

6. Progressive Leasing

  • Valid at: More than 30,000 stores in the U.S.[34]
  • Spending limits: Vary on an individual basis[35]
  • Credit requirement: Progressive Leasing will pull a soft inquiry but doesn’t have a minimum credit score and accepts applicants with low or no credit[35]
  • Down payment: None, but your first lease payment is due immediately when you accept the lease[35]
  • Repayment period: Usually 90 days or 12 months, but it may be longer depending on what you buy and where[35]
  • Interest: None[35]
  • Fees: Vary by state; late and returned payment fees up to around $30[36]
  • Find out more

7. Affirm

  • Valid at: More than 3,000 retailers and brands, including Peloton, Adidas, iRobot, and The RealReal[37]
  • Spending limits: No set limit on the amount or number of loans you can have, but Affirm will consider your payment history and credit use before approving purchases[38]
  • Credit requirement: No set minimum score; requires a soft credit check[39][40]
  • Down payment: Required if you don’t qualify for the full purchase amount[41]
  • Repayment period: Varies by the purchase; usually three, six, or 12 months, but can be up to 48 months[42][43]
  • Interest: Variable; you’ll see the total amount of interest you’ll pay at checkout[44]
  • Fees: None[44]
  • Find out more

8. Zebit

  • Valid at: Zebit Market, which offers brands like Apple, Samsung, Gucci, Nintendo, and Magic Chef[45]
  • Spending limits: Vary on an individual basis[46]
  • Credit requirement: No set minimum; Zebit does not pull from the major credit bureaus[47]
  • Down payment: Down payment required, but the amount will vary depending on the total purchase amount[48][49]
  • Repayment period: Up to six months[48]
  • Interest: None[50]
  • Fees: None (including late fees)[50]
  • Find out more

9. ViaBill

  • Valid at: More than 5,000 websites (mostly small, independent retailers)[51]
  • Spending limits: $300 for your first purchase; may increase for future orders[52]
  • Credit requirement: None; ViaBill doesn’t conduct a hard pull or report to the credit bureaus[52]
  • Down payment: None, but your first installment is due at checkout[52]
  • Repayment period: Four installments due monthly[53][52]
  • Interest: None[54]
  • Fees: Late/missed payment fees of $29 to $40[54]
  • Find out more
  1. https://www.quadpay.com/shop/[]
  2. https://help.quadpay.com/hc/en-us/articles/360041361411–How-much-can-I-spend-using-the-QuadPay-app-[]
  3. Quadpay customer service (888) 274-3159[]
  4. https://help.quadpay.com/hc/en-us/articles/360020592392-What-is-QuadPay-[][][]
  5. https://help.quadpay.com/hc/en-us/articles/360020852771-Are-there-any-fees-to-use-QuadPay-Checkout-[]
  6. https://help.quadpay.com/hc/en-us/articles/360041362331–Are-there-any-fees-to-use-the-QuadPay-app-[]
  7. https://www.afterpay.com/categories/all-stores[]
  8. https://help.afterpay.com/hc/en-us/articles/218320803-How-much-can-I-spend-with-Afterpay-[]
  9. https://help.afterpay.com/hc/en-us/articles/115005762006-How-many-orders-can-I-have-with-Afterpay-[]
  10. https://help.afterpay.com/hc/en-us/articles/217425866-How-does-Afterpay-work-[][]
  11. https://help.afterpay.com/hc/en-us/articles/360030314532-Why-is-my-first-payment-higher-than-the-other-three-[]
  12. https://help.afterpay.com/hc/en-us/articles/115003811446-When-will-my-first-payment-be-taken-[]
  13. https://www.afterpay.com/purchase-payment-agreement[][]
  14. https://www.splitit.com/store-directory[]
  15. https://www.splitit.com/faq/shoppers/[][]
  16. https://www.splitit.com/faq/shoppers/)
  17. Repayment period: Up to 24 monthly installments((Splitit customer service (844) 755-4848[]
  18. https://www.splitit.com/legals/splitit-shopper-terms-conditions/united-states/[][]
  19. https://sezzle.com/stores[]
  20. https://help.sezzle.com/shopper-orders/how-much-can-i-spend-with-sezzle[]
  21. https://help.sezzle.com/shopper-basics/does-sezzle-perform-a-credit-check[]
  22. https://help.sezzle.com/shopper-basics/when-do-i-make-my-first-payment[]
  23. https://sezzle.com/[]
  24. https://help.sezzle.com/shopper-basics/how-does-sezzle-work[]
  25. https://help.sezzle.com/shopper-basics/sezzle-says-the-payments-are-interest-free-whats-the-catch[]
  26. https://www.klarna.com/us/customer-service/[]
  27. https://www.klarna.com/us/klarna-stores/[]
  28. Klarna customer service (844) 552-7621[][]
  29. https://www.klarna.com/us/customer-service/does-klarna-affect-your-credit-score/[]
  30. https://www.klarna.com/us/customer-service/klarna-perform-credit-check/[]
  31. https://www.klarna.com/us/customer-service/csc/about-klarna-and-our-payment-options/[]
  32. https://www.klarna.com/us/customer-service/csc/payments/[][]
  33. https://www.klarna.com/us/klarna-app/[]
  34. https://www.klarna.com/us/customer-service/what-is-financing-and-how-does-it-work/[]
  35. https://progleasing.com/[]
  36. https://progleasing.com/frequently-asked-questions/[][][][][]
  37. Progressive Leasing customer service (877) 898-1970[]
  38. https://www.affirm.com/where-to-shop[]
  39. https://www.affirm.com/help/apply-for-a-loan/no-loan-limit[]
  40. https://www.affirm.com/how-it-works[]
  41. Affirm customer service (855) 423-3729[]
  42. https://www.affirm.com/help/apply-for-a-loan/make-a-down-payment[]
  43. https://www.affirm.com/help/get-started/what-is-affirm[]
  44. https://www.affirm.com/help/apply-for-a-loan/term-length[]
  45. https://www.affirm.com/help/get-started/interest-and-no-fees[][]
  46. https://preview.zebit.com/[]
  47. https://zebit.zendesk.com/hc/en-us/articles/212910017-How-is-my-ZebitLine-determined-[]
  48. https://zebit.zendesk.com/hc/en-us/articles/360036126494-What-agency-do-you-perform-a-credit-check-with-[]
  49. https://zebit.zendesk.com/hc/en-us/articles/224992848-What-is-a-ZebitLine-[][]
  50. Zebit customer service via help@zebit.com[]
  51. https://zebit.zendesk.com/hc/en-us/articles/212230018-Are-there-any-membership-fees-or-interest-charges-associated-with-using-Zebit-[][]
  52. https://shops.viabill.com/us/en/#/?filter=alphabetic[]
  53. https://viabill.com/faq-shoppers/[][][][]
  54. https://viabill.com/for-shoppers/[]
  55. https://viabill.io/consumer-terms/[][]