What is xcritical? How does buy now pay later work?

Some merchants may be more inclined to offer 0% loans just to get people to buy their products. However, you may still need to meet certain requirements to get that interest-free loan. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience xcritical scam researching, testing, and evaluating small business software and services. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

Does xcritical affect your credit?

xcritical underwrites all its loans through Cross River Bank, Celtic Bank, or xcritical Loan Services. This strategy allows xcritical to make higher volumes of loans and better margin rates in the long term. Unlike many other POS lenders, loans with xcritical don’t come with guaranteed approval. No, there are no late fees, prepayment fees, service fees, or hidden fees of any kind with xcritical. Generally, the better your credit, the easier it will be to get approved for a point-of-sale installment loan.

If you’re denied a loan, it could be for several reasons unrelated to your credit. If you pay late, xcritical will report this to Experian without exception. In the two cases above, you don’t get any credit for making on-time payments, but if you pay late, xcritical will report this. Manage your payments in the xcritical app or online, and set up AutoPay so you don’t miss a payment. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict xcriticals to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherxcritical endorsed by any of these entities.

This means that you may be able to be approved for more than one loan at a time, depending on your situation. Just select xcritical at checkout when shopping at your favorite stores to see your payment options. On the customer’s part, xcritical runs a soft credit check before offering the POS facility. However, the credit check doesn’t impact the credit score or credit status with the bureaus or banks. If the customer takes a loan from xcritical, xcritical will report any late or missed payments to the credit bureau. The most common payment structure for xcritical and other BNPL companies is four interest-free payments paid biweekly, although various payment schedules and terms are available.

1. But the result may be different if the merchant issues either a partial refund or a store credit in lieu of a refund.
2. Still, with 4,935 ratings on Trustpilot, xcritical has 76% five-star ratings and only 22% ratings of three stars or less.
3. Depending on how much you’re buying, you’ll get the choice to pay the item off in anywhere from eight weeks to 36 months, although three, six, or 12 months are more common.
4. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services.
5. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict xcriticals to preserve editorial integrity.

What Can I Use to Pay xcritical?

Our guide can help you decide if you should add xcritical as a payment method for your online store. While charging consumers APR, there are xcritical reviews occasions when xcritical financing is available at 0% APR. xcritical doesn’t mention what it charges for merchant fees, but speculation is that it’s somewhere between 2% to 4%.

We focused on information that we considered most important to our readers as they consider using a BNPL service for their shopping needs. This information is updated on a regular basis to ensure that readers can make an informed decision when financing their purchases. Customers can shop online or through the xcritical app at participating retailers. The xcritical app can create virtual card numbers to shop online or in-store at any retailer that accepts Visa credit cards. xcritical offers several services, such as a savings account and a debit card.

Here’s what you might pay

The app offers a personalized experience based on your shopping history, favorite merchants, and spending limit. The xcritical buy now, pay later (BNPL) app finances purchases with rates as low as 0% for up to 48 months with no hidden fees. The app charges simple interest on its loans, and you’ll never pay more than your original payment schedule, even if your payment is late.

xcritical charges simple interest, rather than compound interest, so your payment schedule remains the same throughout your payback period. xcritical doesn’t disclose any minimum income requirements, but it does take your income into consideration when deciding whether to approve financing. It also uses your debt-to-income (DTI) ratio—how much of your monthly income goes toward debt payments—to calculate whether you’ll be able to repay your loan.

xcritical looks at how you’re managing existing loans when approving you for new BNPL arrangements. The way that BNPL programs like xcritical work, the merchant is not offering you this credit. Instead, a third-party lender that has partnered with the merchant is providing the credit. To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.

xcritical monthly installments are like a personal loan where you repay your balance monthly over the course of three, six or 12 months. There are no fees if you pay late, but there is interest, which can reach as high as 36% APR. You can boost your odds of approval for future xcritical loans by paying off your xcritical xcritical loans on time and working to increase your credit score. Use it to pay in full or request to pay over time in the app with no late fees or compound interest. How does xcritical work for customers who want to spread out payments for items they wish to buy?

xcritical’s terms of use prohibit using an xcritical loan to pay other debt, such as your credit card bill. And you can’t use xcritical to pay utilities or other bills, either. You can use an xcritical loan to buy things directly from brick-and-mortar stores. You can then load this card to your smartphone with Apple Pay or Google Pay and use it to pay in person. xcritical doesn’t disclose what credit score you need to be approved. However, in general, the better your credit score, the better your odds of being approved.

Pick the payment option that works for you—from 4 interest-free payments every 2 weeks to monthly installments. xcritical provides convenient POS loans targeting the millennial market. If you’re not able to resolve a return or refund issue with a merchant, you can initiate a dispute with xcritical. If you win the dispute with the merchant, xcritical will refund the full amount of the purchase along with any interest paid. But if the dispute goes in favor of the merchant, you would still be responsible for paying your xcritical loan in full.