Sezzle Premium: Is it a Credit Building Savior or a Hoax? 

Sezzle is a super popular pay-in-4 solution for online shopping. Sezzle Premium is the upgraded version, offered as a monthly subscription. 

Let’s explore the depths of Sezzle Premium and Sezzle Up, and dissect its credit-building promises. Beyond the surface of split payments, this journey navigates through costs, perks, and credit implications. 

Is Sezzle Premium truly a credit-building ally, or just a financial illusion? Let’s find out.

Here’s what’s in store:

• What is Sezzle Premium?
  • Sezzle Company Overview
  • Does Sezzle Check Credit?
  • Does Sezzle Report to Credit Bureaus?
  • Sezzle Up Costs
• Sezzle Premium Features
  • 1. Increased Limit Potential
  • 2. Exclusive Store Access
  • 3. Credit Reporting
  • 5. Sezzle Spend Promotions
• Are There Other Apps Like Sezzle?
• Frequently Asked Questions
• Conclusion: Can Sezzle Save Your Credit?

Now, let’s set sail! 

What is Sezzle Premium? 

Sezzle Premium – is kind of like the VIP club where Sezzle users get extra perks. Sezzle’s core offer lets you split your purchases into four payments over six weeks, making it easier on your wallet. 

With Sezzle Premium, you not only get to know your spending limit and have a shot at getting more, but you also get access to special stores that offer financing just to Sezzle Up members. 

Now, here’s the deal – you agree to let Sezzle tell credit agencies about your payments, and you need a bank account or another legit way to pay and the cost is $12.99 per month. 

But, the cool part is, you’re building good credit habits while enjoying the VIP treatment. And the best news? Sezzle Premium doesn’t cost extra – it’s all part of the Sezzle experience!

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Sezzle Company Overview

Sezzle Inc. is a publicly-traded, for profit company that’s been around since 2016. It was originally founded by Charlie Youakim, Emmanuel Isaac, Killian Brackey, Mia Peroff, Paul Paradis, and Rishi Mukherjee.

Sezzle is not accredited with the Better Business Bureau (BBB), but maintain an A+ rating on the platform. In addition, their Trustpilot rating is Excellent. 

So, is Sezzle safe? I would say, without making a recommendation, Sezzle appears to be a completely trustworthy company. However, their employees don’t seem to be stoked to work there…not all of them anyway, Anonymous staff give Sezzle a 3.8 rating on Glassdoor. 

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Does Sezzle Check Credit? 

Sezzle does check your credit, but they don’t do hard pulls, which are typically the ones that ding your credit score. Instead, they do a soft pull. So, using Sezzle shouldn’t mess up your credit score, and it’s designed to be a credit-friendly way to pay for things. 

To potentially get a higher Sezzle limit, consider joining Sezzle Up, as members may experience increases in their spending limits over time.

Just keep in mind that if you decide to join Sezzle Up, they will report any missed payments to credit bureaus as well, which has the potential to harm your score (though that is not the intent). 

Recommended: Top 8 Best Credit Repair Books of All Time +Free Resources 

Does Sezzle Report to Credit Bureaus? 

Yup, Sezzle reports to credit bureaus, but only if you join Sezzle Up. After that, they share your payment activity with credit agencies like Experian, Equifax, and TransUnion in the United States. In Canada, it’s just Equifax. 

Instead of reporting monthly, they may only report every three months. 

So, if you’re all about boosting your credit score, joining Sezzle Up could be a good move, but keep in mind they report both the good stuff (like on-time payments) and any slip-ups. It’s all in the name of financial empowerment and giving you the lowdown to help you make savvy credit moves.

Sezzle Up Costs

Sezzle Up gives you the ability to report on-time payments to credit bureaus for a shot at boosting your credit. So, without Sezzle Premium, how much does it cost? 

Sezzle offers flexible financing options, and the interest rates can vary based on factors like: 

• Your credit qualifications
• The loan amount
• The term

The Pay in 4 payment option, which allows you to split your purchases into four installments over six weeks, comes with 0% Annual Percentage Rate (APR). This means there’s no interest charged during that period. 

However, for other payment options and financing plans, the rates can range from 5.99% to 34.99% APR, and the terms can vary from 3 months to 48 months.

It’s important to check the details specific to your purchase, and Sezzle tends to provide transparent information about rates during the checkout process – Always review the terms and conditions to understand the interest rates and any potential fees associated with your financing plan.

Sezzle Premium Features 

Now, let’s get into the outcomes you can expect if you sign up for Sezzle’s VIP offer. From higher credit limits to more places to shop and beyond, here’s what you can expect with Sezzle Premium. 

1. Increased Limit Potential

Elevate your shopping game with Sezzle Up’s increased limit potential. It’s like unlocking a superpower that allows you to level up your spending ability. As a Sezzle Up member, you might score boosts in your spending limit, giving you more room to treat yourself without breaking the bank.

Enjoy the freedom to make larger purchases, expand your shopping options, and indulge in the things you love without worrying about hitting a spending cap.

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2. Exclusive Store Access

Sezzle Up members get the VIP treatment with exclusive access to special stores. It’s like having a secret key to unlock a world of unique products and deals that are reserved just for Sezzle Up users. Dive into a curated selection of items and enjoy the perks of being part of the Sezzle Up family.

Explore a curated collection of products, access exclusive deals, and enjoy the thrill of shopping at stores tailored for Sezzle Up members. But, note that you can’t shop with Sezzle anywhere and merchants may revoke their partnerships with Sezzle at any time. 

However, with the Sezzle app, an upgrade to Sezzle Premium ($12.99 per month), and a Sezzle virtual card, you can finance purchases made with most major retailers like Amazon, Bass Pro Shops, and Walmart.com. 

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3. Credit Reporting

Building credit is made easy with Sezzle Up. By joining, you’re on a mission to boost your credit score. Sezzle reports your payment behavior to major credit bureaus, like Experian, Equifax, and TransUnion in the U.S., and Equifax in Canada. It’s a proactive step toward showcasing your responsible payment habits and enhancing your overall creditworthiness.

👀 You do not need to join Sezzle Premium to get your payments reported. 

To join Sezzle Up, you’ll need to: 

1. Pay off one order in full and on time 
2. Link your checking account and set it as your default payment method
3. Share your SSN to verify your account.

You can strengthen your credit profile, establish positive credit history, and work towards achieving financial goals with the support of Sezzle’s Up’s credit reporting.

Recommended: How to Remove Late Payments from Your Credit Report 

5. Sezzle Spend Promotions

Sezzle Premium members get treated to Sezzle Spend promotions, adding an extra layer of excitement to your shopping experience. It’s like receiving bonus credits to use at specific stores – a little gift to enhance your Sezzle journey and make your purchases even more rewarding.

Even without Sezzle Spend, you can get tons of discounts when you shop with the Sezzle app. 

Enjoy bonus credits for select stores, take advantage of special promotions, and enhance your shopping experience with the added perk of Sezzle Spend.

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Are There Other Apps Like Sezzle? 

Now, Sezzle isn’t your only buy now pay later (BNPL) option when shopping online. Klarna and Afterpay are also super popular for online shopping. Let’s look at the key differences between Sezzle, Klarna, and Afterpay (including details on credit reporting).

Payment Structure	4 payments, 0% APR for Pay-in-4; other financing options available.	Pay Later (30 days), Pay Now, Financing with interest.	4 payments over 6 weeks, interest-free with on-time payments.
Credit Reporting	Transunion, Equifax, Experian.	No reporting.	No reporting.
Availability	US & Canada.	Global. Services vary.	US, Australia, Canada, +.
Limits & Eligibility	Limits may increase for Sezzle Up members; approval varies.	Higher limits based on credit; varies by merchant.	Limits depend on repayment history; varies by merchant.
Fees	No interest for Pay in 4; fees for other options; potential late fees.	Interest for financing; late fees and additional charges possible.	No interest for on-time payments; late fees may apply.

⚠️These details can change, and specific terms can vary based on your circumstances and merchant policies – review the terms and conditions provided by each service during the checkout process for the most accurate and up-to-date information.

The big difference (for now) between these well-known BNPL choices is that Sezzle is the only one to offer credit reporting. So, naturally, it would be my first choice.  

Frequently Asked Questions

Conclusion: Can Sezzle Save Your Credit? 

As we wrap up our exploration of Sezzle Premium, the question lingers – can it save your credit? With its features and convenience, Sezzle Up presents a unique financial landscape. The choice is yours as you steer through the waters of responsible credit decisions. 

Whether Sezzle becomes your credit companion or not, may your financial journey be guided by informed choices. Sail into the Sezzle realm equipped with the wisdom to make credit-savvy moves.

Personally, I love this offer, but I know it’s not for everyone – no financial offer is. The main downside, for me, is that payments are reported quarterly rather than monthly. If you’re in need of an offer that will report more frequently, you’ve got plenty of other options. 

To dive into the world of credit repair and get that credit score up fast so you can move forward with your life, check out Credit Secrets and start your journey to better financial health.