Trustpilot gives Quadpay Reviews a 4.5-star rating, based on over 2,500 customer reviews.
Customers love the Quadpay app because it is simple to use, offers a wide range of retailers, and has an easy-to-understand payment plan.
A few dissatisfied customers, on the other hand, complain that customer support is difficult to reach.
An unhappy reviewer bemoans the fact that their spending cap has been static for years.
However, Trustpilot users as a whole appear to like Quadpay. The BBB, on the other hand, gives Quadpay a failing grade because it failed to react to 11 complaints and failed to settle five others.
Quadpay has received 1,232 complaints in total.
Most of the complaints come from individuals who used Quadpay to make a purchase and then returned it and are having difficulty getting a refund from Quadpay because of it.
In addition, Quadpay had to pay California customers approximately $685,000 in April 2020, as well as $69,000 in fines, for providing loans to citizens of California without obtaining the appropriate license.
Contents
What You Need to Know About a Quadpay Personal Loan:
When you use Quadpay, you may make a purchase now and pay for it over time in four equal, interest-free payments.
The service may help you cover essential expenditures, but there are drawbacks as well.
How Does the Quadpay System Work?
The usage of Quadpay’s service is straightforward. For the sake of simplicity, I will give you a rundown of everything.
Choosing Quadpay is Simple:
During the checkout process on any of Quadpay’s registered merchants’ websites, you may choose Quadpay as a payment option.
Quadpay’s app allows you to look for a store and pay with it on other transactions as well. You may also make in-store purchases using the app.
What Quadpay users Should be on the Lookout for:
In addition to the above fees and problems, using Quadpay has several additional drawbacks.
Before making a decision, consider the following factors.
Late Fines may Cost you a Lot of Money:
Quadpay has a straightforward payment schedule, but if you miss a payment, you will be charged.
Depending on your state, you may be charged a $5, $7, or $10 late fee.
The charge may be removed once you have paid your payment, but there is no assurance Quadpay will do so.
Interest and Additional Charges from Your Credit Card Company Are Possible:
Quadpay only charges late fees, however, to utilize the service, you must connect a payment card.
You will still be responsible for any costs connected with that card, therefore.
If you can not cover the payment account on file with Quadpay, you may be charged interest, late fees, or overdraft penalties.
When It Comes to Refunds, Things Become a Bit Tricky:
Refunds are handled in a straightforward manner using Quadpay, but it adds an extra degree of complexity to the purchasing process.
You will have to contact the seller directly if you wish to return or exchange anything you bought using Quadpay.
Quadpay will be informed and will reimburse the money you have already paid as soon as the merchant processes the return or refund.
Next, Quadpay cancels all pending payments.
Quadpay Pros and Cons:
Quadpay is an excellent choice for those who can commit to paying for their item in four equal installments for six weeks.
Pros:
- There is no penalty for paying early.
- You do not have to pay anything more whether you pay in advance or pay in several payments at once.
- There are no additional expenses.
- Except for a $4 convenience fee, Quadpay is free, and you will not be charged interest if you pay on time.
- You will get a response right away.
- It will just take you a few minutes to fill out the application and get an approval decision.
- It collaborates with a wide range of businesses, many of which you are already familiar with.
- Quadpay is available at hundreds of well-known shops, including Whole Foods, Trader Joe’s, Macy’s, Target, and even Amazon.
Cons:
- There is only one way to pay. Four equal payments are due for six weeks, and you are unable to postpone them without incurring late penalties.
- The amount you can spend varies depending on your budget.
- As a result, you will not know whether Quadpay will reimburse your expenses until after you have submitted your application.
- You may be placed on a waiting list.
- You will have to wait at least 30 days to reapply if your first attempt is denied.
Who Is Quadpay Good For?
If you can, stay away from “buy-now, pay-later” applications like Quadpay.
There is no interest or fees for the service, but if you can not make payments on your connected credit or debit card, it may merely postpone interest or larger costs.
If you are qualified, a personal loan or 0% APR credit card may be a good alternative.
Even yet, Quadpay may come in handy if you need to make a large transaction quickly.
Since the service is straightforward to use and provides a flexible payment plan, you may want to consider it when you can only afford to pay for a portion of your purchase in a single go.
Also Read: 5 Moving Loans for Relocation Expenses
How to Apply With Quadpay?
It is simple to purchase with Quadpay using the Quadpay app.
You may either download the Quadpay app to locate the merchant or sign up during the checkout process with one of its registered merchants’ websites and then select Quadpay as your payment option.
You will know right away whether you have been authorized to utilize the service after making a purchase. Also, your credit ratings will not be impacted throughout the approval procedure.
A debit or credit card and your date of birth are required as part of the sign-up process.
To take advantage of Quadpay, you must be able to:
- Be a citizen or permanent resident of the United States.
- You must be at least eighteen years old to participate.
- Have a working mobile phone number that can be verified.
- Be able to use a U.S. credit or debit card to make a transaction.
You risk having your transaction rejected by Quadpay if any of the following apply to you:
- 25% of your purchase price is not accessible to you at the time of the purchase.
- You still owe money on several orders.
- You would want to make a purchase that is more expensive than the amount you have budgeted.
Alternatives:
Are you unsure whether Quadpay Reviews is the best option for your business?
Take a look at the following options.
1. Affirm:
Pay as you go with this “buy now, pay later” option.
2. Avant Financial:
If your credit is fair or above average, this lender may be a possibility.
3. Card for Enhanced Performance:
This credit card is a cross between a credit card and a loan, allowing you to charge items and make payments in the same way.
Does Quadpay Check your Credit?
No, when you utilize Quadpay, your credit rating will not be impacted by rigorous credit checks.
Is Quadpay Able to Help Me Improve My Credit Score?
Due to the lack of credit reporting, utilizing Quadpay will have no positive impact on your credit score.
Keep in mind, however, that even though Quadpay does not need a rigorous credit check, the business may record late payments or default to major credit agencies.
If this happens, your credit score may suffer.
Is it Safe to Use Quadpay?
Payments made using Quadpay are completely safe.
Approval for Quadpay:
Create an account on Quadpay’s website or mobile app or choose the Quadpay option at checkout to get started.
A cellphone number, debit or credit card, and your date of birth are all you will be asked for.
What is the Minimum Quadpay Credit Score?
The credit score required to utilize Quadpay Reviews is not made public.
Applying will let you know whether you are qualified, and because it will not affect your credit score, you have nothing to fear.
Fees for Using the Quadpay System:
Without any hidden fees or interest, Quadpay is a no-brainer. You will only be charged if you are late on a payment.
Payments that are more than seven days past due are assessed a fee of $11 each day after the first seven-day grace period expires.
Before the due date, contact Quadpay and explain the circumstances if you believe you may be unable to make the payment.
Customer support may be able to reschedule your payment in certain instances. Even so, there is no way to know for sure.
Interest Rates when Using Quadpay:
Because Quadpay Reviews does not charge interest, you are spared the hassle of accruing interest fees.
Also Read: How Old do You Have to Be to Get a Debit Card?
Conclusion!
Please note that while paying using the Quadpay app, you will be required to input the full purchase price (including taxes and fees).
Quadpay generates a virtual credit card inside the app after you have been authorized, which you can then use to complete the purchase.
