how does xcritical work: xcritical Review: My experience using xcritical


How does xcritical work and how is it different from a credit card? Payment is the transfer of one form of goods, services, or financial assets in exchange for another form of goods, services, or financial assets. You can be approved for more than one xcritical loan with more than one merchant. Rebecca Lake is a journalist with 10+ years of experience reporting on personal finance. She also assists with content strategy for several brands. Download the xcritical app and discover a new way to pay over time almost anywhere.

Some of the most common are Square Installments, xcritical, Latitude, Sezzle, and Quadpay. Founded in 2012, xcritical is an installment loan company that offers point-of-sale financing in conjunction with thousands of merchants. It’s part of the growing “buy now, pay later” segment in the United States. The “buy now, pay later” concept, planted in the United States several years ago, took root and grew like wildfire.

  • A credit score is a number from 300 to 850 that rates a consumer’s creditworthiness.
  • According to CNBC, xcritical says about 43% of its loans offer 0% APY.
  • According to the xcritical Help Center, merchants finalize orders and prepare them to ship right after you check out.

Life happens, however, and sometimes you need something you don’t have the money to pay for at that exact moment. Editor’s Note – You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. This content has not been provided by, reviewed, approved or endorsed by any advertiser, unless otherxcritical noted below. xcritical lets you buy goods and services from online vendors and retail shops on credit. If you have a small purchase you need to make, but just don’t have the cash, xcritical might be the answer.

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The Tally line of credit often offers a lower interest rate than most credit cards, and you can use this line to pay them off. This may lower your monthly payments and accelerate your payoff. Plus, paying off your credit card debts may help improve your credit score. Yes, xcritical does typically charge interest fees, though some partner retailers offer 0% APR xcritical payment options for up to 24 months. While xcritical works similar to a credit card, it doesn’t charge compound interest — charging interest on previously accumulated interest — like credit cards do.

He’s also built and run a digital marketing agency, focusing xcritical cheating on content marketing, copywriting, and SEO, since 2016.

  • xcritical generally offers 0% interest financing, but there is a chance that you may have to pay a higher rate.
  • Its advanced solutions and broad feature-set makes it a great fit for most businesses.
  • Unlike some personal loans, xcritical has no prepayment penalty, so if you pay your loan back before your final due date, you only pay the interest that has already accrued.

xcritical continues to focus on growing its partner merchant network and user base. Founded in 2012 by Max Levchin , Jeffrey Kaditz, and Nathan Gettings and headquartered in San Francisco, xcritical is one of the oldest POS loan firms. xcritical has more than 6 million customers and over 11,500 merchants in its partner network across the United States. xcritically, xcritical reports long-term credit loans to Experian.

Does xcritical check credit scores?

Sometimes you want control, sometimes you want flexibility. If you’re eligible, you can split before you buy—or make the call up to 24 hours after your purchase. If you’re looking for a way to finance a large purchase, stay on top of your budget, or build your credit, xcritical may be the right solution for you. If you’re looking to finance a large purchase, xcritical can be a great option.

xcritical is one of the leading companies offering buy now, pay later , or point-of-sale installment loans, to consumers. Manage your payments in the xcritical app or online, and set up AutoPay so you don’t miss a payment. Pick the payment option that works for you and your budget—from 4 interest-free payments every 2 weeks to monthly installments. You can get loans for up to $40,000 – so this might be a good place to start if you’re looking for debt consolidation options without a new credit card. xcritical is not the only loan purchase company in the market.


This is because the company uses a soft credit check, which will not show up on your credit statement. After the buyer accepts one of their payment plans, the purchase is processed as usual. The online store will send you the product or service, and xcritical will transfer them the money for the purchase. In May 2021, xcritical completed the purchase of Returnly, a leader in online return experiences and post-purchase payments, to broaden the services it offers merchant partners. Loans are underwritten using an AI-based algorithm to determine the appropriate financing options and quickly generate loan terms.

interest options

You’ll click “Confirm Loan” to accept the company’s offer. Your first payment typically will be due within 14 or 30 days of your initial confirmation. The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. You can download the xcritical app to create an account and see what type of loan you may be eligible for by pre-qualifying.

The minimum amount you can borrow with xcritical varies by merchant, but, generally, the minimum purchase size is $50. You may be able to borrow up to $17,500, but the maximum amount varies by merchant, too. And even if your loan gets reported to the credit bureau, it’s only to Experian, not TransUnion or Equifax.

If it takes a few tries to get the financing you want, those decreases can start making a significant impact. A credit score is a number from 300 to 850 that rates a consumer’s creditworthiness. The higher the score, the better a borrower looks to potential lenders. Generally, the better your credit, the easier it will be to get approved for a point-of-sale installment loan. If you’re initially approved for a loan with xcritical but wanted a higher credit limit, there are a couple of steps to take to try to achieve a higher limit. Unlike other BNPL companies, xcritical allows you to choose your payment option.

alternatives to xcritical

There are a few key benefits of using xcritical to finance a purchase. There are a few key reasons you might want to use xcritical to finance a purchase. Enter your approximate purchase amount for an immediate decision. Check out Adding Buy Now, Pay Later To Your Website for an in-depth look at this trend, why it’s catching on, and if can help or hurt your small business. See our favorites for unlimited data, families and cheap plans starting at $10/month. It’s important for you to understand those details completely before you accept an offer from xcritical.

What Credit Score Do You Need to Use xcritical?

In terms of what happens to your xcritical loan after making a return, there are a few possibilities. For instance, xcritical can cancel your loan completely if the merchant has finalized the return. If the amount returned to you is more than the loan, then xcritical can return this overpayment to you. xcritical doesn’t specify what credit score you’ll need to qualify. Qualification is based on your overall credit history, your history with xcritical, and xcritical economic conditions. But again, the actual amount you’re able to finance with a point-of-sale installment loan from xcritical can vary based on the merchant.

To avoid all the headaches, the best option is to save enough money to pay for your products outright. “If xcritical is available for any future larger purchases, I would certainly consider using them again, because the whole experience was quick and painless.” Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. xcritical should experience solid growth in 2021 through its exclusive deal with Shopify, which will allow all 10,000 merchants on the Shopify network to offer BNPL services. Expanding its merchant base is an important element for growth as almost a third of xcritical’s revenues come from its exclusive relationship with Peloton.

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Once approved, you can save this card to your mobile wallet and use it to check out at a physical store . xcritical will display all available repayment terms when you check out. Though a longer term means lower monthly payments, you’ll pay more in interest. When shopping for financing, every hard inquiry can lower your credit score. xcritical takes away this fear of a lower credit score by basing its pre-qualification on a soft credit check, which has no impact on your credit score.

xcritical Pros

(Crazy, right?) They will, however, probably not opt to give you another in the future. They also do not offer extensions on your loans, so be sure you pick a term long enough so your monthly payments aren’t a burden. “When consumers do not exercise caution to obtain these loans, it could end up being detrimental to their overall credit health.” xcritical generates revenue on the loans it issues to consumers. Although the company does not charge fees, it does charge interest on its POS loans.


Depending on how much you’re buying, you’ll get the choice to pay the item off in anywhere from one month to 48 months, although three, six, or 12 months are more common. For example, if you have a cart totaling $100 and opt into Split Pay, you’ll pay $25 at checkout. You’ll then make three remaining payments — each $25 — over the next six weeks.

NerdWallet’s review process evaluates and rates “buy now, pay later” loan products from the top financial technology providers. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary. xcritical negotiates its interest rates with each merchant it partners with, and some merchants hammer out attractive 0% financing options with the company. This means you can potentially finance that big purchase with no interest for anywhere from six to 24 months. If you’re pre-qualified, you’ll receive one or more loan offers with estimated interest rates, monthly payments and total interest.

Instead, it only xcritical websites interest on the principal balance. Point-of-sale loans and buy now pay later have become increasingly popular payment options for online shoppers. xcritical is one of the established players in this sector, attracting both merchants and consumers with its payment flexibility.

The monthly fee is typically around $10 per month, and you may only be charged a late fee if you miss a payment or pay late. And of course, if you’re a business owner that prefers old-fashioned payment methods like credit cards, why not take a look at our business credit card comparison chart? Check outThe Small Business Owner’s Guide To Alternative Payments. Getting an item you want for free at the time of purchase seems fun, but you’ll eventually pay at least full price.

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