How Afterpay Works for our Designer Bags
Sugar-sweet honey buns, if you haven’t heard of Afterpay yet, you simply must know how Afterpay works for financing your designer bags from Wicker Darling.
If you’re anything like me, you get home after a hard-day’s work and plop down on the couch like a lackadaisical lemon drop. Or maybe you started your day off there. More power to you boo.
When you’re not in hustling mode, you want ease, comfort, and convenience - and Afterpay just so happens to be the most convenient thing since the Insta-Pot.
Don’t believe me? Read on!
You can think of Afterpay as another version of layby. It allows you to spread out the cost of big purchases over the course of four months. But, instead of waiting to take your gift-to-self home, you can have it RIGHT NOW. Before you’ve even financed it.
Okay, so what’s the catch? It sounds too good to be true, right?
Hardly. While you need to be responsible with your spending, just like with any payment service, it really is as good as it sounds.
If you aren’t yet using this service to finance your fabulous fun, then it’s time to learn all about Afterpay, how it works, and what makes you Afterpay eligible.
And, since we look after our own here at Wicker Darling, we’ll also give you tips on how to responsibly use Afterpay to purchase one of our unique bags from boisterous Bubbles the Fish to sassy Charlotte Bronte-saurus.
What is Afterpay?
Want to play now and pay later? That’s how Afterpay works for the million happy customers this Australian-born payment service has helped since its launch in 2015. You can finance your favourite finds from flat-screen TVs to whimsical vintage dresses to designer purses all on Afterpay.
How Afterpay works is this: when you see an item you just have to have in your arsenal - like the super cute Lola the Llama bag from Wicker Darling - you just select Afterpay as your payment choice at checkout. Then, you’ll be redirected to the Afterpay website.
If you don’t have an account yet, it’s a piece of cake to sign up. You’ll just enter a few details like your name and card information, and as long as you are Afterpay eligible (more on this later) you’ll be all set!
Just click a button and “voilà!” Afterpay will break down the cost of your purchase into four equal (and quite budget-friendly) payments with no upcharge and no interest. These charges can be put on credit card or debit card and will be paid every other week.
If you’re wondering how Afterpay works as a free service that doesn’t charge interest, you’re not alone.
But it’s important to note that Afterpay can still become quite expensive if you don’t make your fortnightly payments on time. If you forget to make your payments, or a bank holiday screws up your expected budget, be aware that Afterpay does charge late payment fees. You will be charged a cheeky $10 fee for late payments, and if another week goes by and you still haven’t paid, they’ll pile another $7 fee on top of that.
So my bumbling buttercups, it’s best to stay on top of those payments.
But you won’t have to worry about drowning in debt either. The great news is that Afterpay put a cap on these late fees, which means you will never need to pay more than $68 in late fees on top of your repayments.
So that’s it! If you see Afterpay as a payment option, it’s incredibly easy (sometimes a little TOO easy) to go on a shopping spree!
Because Afterpay payments are only made 25% at a time, it can help cut back on buyer’s remorse and financial hardships.Best yet, Afterpay claims to have the highest level of security in the payment industry, so your purchases should be pretty well protected.
There’s even an Afterpay app for both iOS and Android, in case it wasn't already convenient enough.
I could gush about Afterpay for ages. It’s helped my wardrobe blossom into a fabulous garden of luscious (and quite ridiculous) treasures.
I would love to use Afterpay on everything under the sun, but sadly that’s not how Afterpay works. You can’t use it to buy a house or a private jet (we can still dream my dears) but it does work quite splendidly to help you bring Oscar the Cat home with you - so long as you are eligible.
What makes one Afterpay eligible? Well sit that toosh right down and I’ll spell it out for you.
A bit about Afterpay eligibility
Now that you understand how Afterpay works a bit better, let’s make sure it will work for YOU my sassy sweetpeas!
First off, even though my one-of-a-kind wicker purses are available world-wide, Afterpay isn’t.
The Afterpay service is only available to Australian customers, so if you aren’t from AUS, you can forget learning anything further about how Afterpay works, and pop straight on over to pre-order your wicker handbag friend instead!
Or skip to the end of this blog for info on our own payment plans.
If you do live in Australia, then it’s pretty easy to get started with Afterpay. You don’t even need a credit check to apply, and using Afterpay won’t affect your credit score either - unless you aren’t making your payments.
How can you make those payments?
Afterpay accepts all Mastercard and Visa debit and credit cards issued in Australia. Unfortunately, if you’re an AMEX cardholder, this service won’t work for your card. It also won’t work with foreign debit and credit cards, or with prepaid travel cards.
If you are missing your bi-weekly payments, Afterpay does reserve the right not only to perform credit checks, but also to report your activity to credit ratings bureaus. Afterpay also has the right to deny or cancel orders to prevent potential fraud. However, this approval algorithm is a bit of a mystery. Your purchase could be rejected the first time, but accepted the second time around - and there doesn’t seem to be much of a rhyme or reason to it.
But, the longer you use Afterpay, the more likely your purchases will be approved. So, if you are just getting the hang of how Afterpay works, try starting with smaller purchases and working up to big ones.
The maximum amount you can spend on your debit card is about $500, but the limit for credit cards can be much higher and varies. Usually, either Afterpay or retailers will put a cap on your credit card purchases.
In fact, when you first sign up for your Afterpay account, Afterpay will provide you with an “estimated spend limit.” This will gradually increase as you continue to use the payment service responsibly.
How to use Afterpay responsibly
I would never lead you astray my trend-setting wondercats. In teaching you about how Afterpay works, I also want to make sure you understand how to use it well.
You may have read some negative reviews about Afterpay - and those sad little sugar plums fell into traps I’m here to help you avoid.
There are three simple rules I stick to when using Afterpay on designer bags and dresses. These rules will hopefully keep you from any unfortunate Afterpay accidents.
1. Set a budget
You shouldn’t be relying on Afterpay’s estimated spending cap. It’s important for you to take a look at your finances so you can understand how Afterpay works with your budget.
It’s not fun, but it’s important to crunch some numbers and work out how many of my designer handbags you can realistically pay off at one time. (I know, I know, it’s impossible to choose between Wally the Wombat and Marcus the Sharkus so you probably DO need both.)
2. Use your debit card
If you want to play it really safe, only link your debit card to your Afterpay account. In fact, this is what 90% of Afterpay users do.
Why, you may ask? Well, when I explained how Afterpay works, I said it doesn’t affect your credit so long as you are making your payments. But if, heaven forbid, you overspend and can’t keep up with the payments, you may end up with some credit card debt. This could be really bad for your credit history - not to mention your wallet.
But sticking to debit-card-only purchases, you are ensuring you are only spending money that you have on hand (or will have by the time of your next payment!)
3. Reschedule payments as needed
Uh oh. Your payment is here and you don’t have the cash. Not what?
Lucky for you, Afterpay allows you to push your due date back by up to five days. If you know you won’t have the money yet, it’s important to do this to avoid late fees on your account.
Bear in mind though - you are only allowed to reschedule payments three times a year. And, if you have any outstanding payments, you won’t be able to make a new purchase on Afterpay.
If you end up biting off more than you can chew with your Afterpay purchases, the company really is quite kind, and even has a hardship program available. But I know you savvy shoppers won’t even need it!
So now that you understand how Afterpay works and how to use it responsibly, it’s time to discuss how Afterpay works with my designer wicker bags.
How Afterpay works for our one-of-a-kind handbags
If you’re intimidated by the cost of our wicker purses, or are unsure how to style your unique handbag, then Afterpay can help relieve some of the pressure. It allows you to take your treasure home straight away, and pay at a more leisurely pace.
This way, when an absolutely adorable animal handbag in the shape of your very favourite thing in life comes along, you can snatch it up without a concern during the pre-sale, and slowly finance your designer bag on Afterpay.
It’s very simple. You already know how Afterpay works. Just sign-up for a pre-order on your favourite whimsical wicker bag (or two, or three) and choose Afterpay as your payment option at checkout.
And, if you are, in fact, NOT sure how Afterpay works (or would prefer not to use it), you can even finance your forever friend with our very own Wicker Darling payment plans. They are super simple and made just for you.
All you have to do is reach out and we’ll set you up with a payment plan that fits your wallet just as well as our vintage-inspired wicker purses match your wardrobe. Which is to say, perfectly.
So come stop by, see which wicker bag is on offer this month, and rest assured that the only thing you’ll need to think on is what you want to wear your specular new purchase with. If you need sartorial inspiration, get a look at what the Wicker Family is whipping up.