Split Up Debit Card Purchases with Buy Now, Pay Later

Buy Now, Pay Later is now available in Digital Banking! With Buy Now, Pay Later, you can spread the cost of your debit card purchases over fixed monthly payments.

How Does it Work?

1. Make a qualifying purchase of $100 – $2,500 using your DuPage Credit Union debit card.
2. You’ll see purchases under the Buy Now, Pay Later tab in Digital Banking (desktop), or in the DuPage Credit Union mobile app by going to More > Buy Now, Pay Later.
3. Choose the purchase you’d like to split into payments.
4. Select a 3-, 6-, or 9-month payment plan. Follow the prompts to confirm your plan. That’s it!

How do we compare to popular installment plan services?

Popular installment plan services have rates up to 36% APR.^* With our plans, you’ll never pay more than 14.99% APR¹. Plus, there is nothing to sign up for! And, unlike those other services, you have up to 60 days to split up your purchase.

What’s the difference between using Buy Now, Pay Later and using a credit card?

Like a credit card, Buy Now, Pay Later is a short-term loan that you pay back monthly, but it has a few key differences:

• We do not perform a credit check when determining your eligibility for Buy Now, Pay Later. Your APR is determined by other factors like purchase amount and term length (months) to repay.
• With a credit card, you can carry a balance from month to month. With Buy Now, Pay Later, you agree to pay off the purchase within a specified period.
• When paying with a credit card, you can build credit. Buy Now, Pay Later payment plans are not reported to the credit bureaus, and so a plan that is created and paid timely does not affect your credit score.

Conclusion

Using Buy Now, Pay Later can be a smart financial decision to afford anything from basic necessities to vacations. If you typically carry a balance on your credit card, using Buy Now, Pay Later could save you money. However, keep in mind that Buy Now, Pay Later does not build credit. For members looking to build credit, we recommend the Canvas credit card. For members looking for longer term financing with loans up to $50,000, we recommend a personal loan.

¹APR = Annual Percentage Rate. Rates and Offers are subject to change without notice. Any eligible Buy Now, Pay Later (BNPL) Offer will be visible in the primary’s Digital Banking ‘Buy Now, Pay Later’ tab. Only eligible Offers actively appearing on the ‘Buy Now, Pay Later’ tab qualify, and an Offer may not be available for the full 60-day timeline. An eligible Offer may appear on the BNPL tab within one business day from the transaction post date. To be eligible for a BNPL Offer, a qualifying purchase must be made with the primary member’s debit card in an amount between $100.00 -$2,500.00. Offers will expire after 60 days of purchase, or at any time prior to the 60 days if other qualifications are not maintained. Cash equivalent purchases (e.g., ATM withdrawal, money order, cash advance, etc.) are not eligible for BNPL. Terms and rates vary based on purchase amount and term selected. Payment Examples: 10.99% APR for 3 months per $100.00 financed, $33.95; 12.99% APR for 6 months per $501.00 financed, $86.69; 14.99% APR for 9 months per $1,001.00 financed, $118.28. You must be the primary member on the DuPage Credit Union account and 18 years of age or older to qualify. Must have a Credit Union membership established and be in good standing. Other restrictions and qualifications apply.

^*APR based on https://www.affirm.com/business/apr-calculator as of August 5, 2024.
^†APR based on https://sezzle.com/how-it-works/ as of August 5, 2024.