How does Sezzle Up impact my credit?
One of the main features of Sezzle Up is that it works with you to boost your credit score. When you upgrade to Sezzle Up, you choose to report your payment history to the credit bureaus. By making all your payments on time, you can increase your credit score.
What type of credit is offered through Sezzle Up?
Sezzle Up is considered a fixed-term loan (like a car loan) not a revolving line of credit (similar to a credit card).
What exactly is reported to the Credit Bureaus?
At the end of each month, we review the overall standing of your account, including your outstanding balance and your payment status. That month-end standing is what is reported to the credit bureaus; so if you accidentally had a payment fail in the middle of the month but quickly fixed it, we would not count that as a failed payment and it would not negatively impact your score. However, if you didn't fix the payment, once it's overdue by 30 days, it will be reported on that month's snapshot.
- Credit reporting is only available to shoppers enrolled in Sezzle Up. At this time, if you are not enrolled in Sezzle Up we don’t report your payment history to credit bureaus.
- Failed payments can be reported. If a failed payment is overdue by 30 days, that failed payment will be reported on the monthly report beginning in the first month that it's 30 days overdue. For example, if you have a failed payment on January 10th, it would not be reported in January. However, if it's still not resolved by the end of February, it would be reported in February and every additional month that it isn't resolved.
How do I opt-out of credit reporting?
Once you have joined Sezzle Up you can cancel within 90 days without any reporting to the credit bureaus.
- 90 days after joining Sezzle Up, we will need to close your Sezzle account if you do not want to be reported. If you wish to be removed from Sezzle Up, please reach out to Shopper Support at email@example.com.
If you have more questions about how your credit can be impacted by lines of credit, credit cards, or loans, we recommend reaching out to a trusted financial advisor.