Take Advantage of the Amazon Buy Now Pay Later Option

As online shopping continues to soar in popularity, Amazon continues to innovate and introduce new features to make the shopping experience more convenient for its customers. One such feature is the Amazon Buy Now Pay Later option, which allows customers to make purchases and defer payment to a later date.

In this article, we’ll take a closer look at Amazon’s Buy Now, Pay Later option, including how it works, its benefits, and how to set it up and use it.

Understanding Amazon’s Buy Now, Pay Later Option

When you use the Amazon Buy Now Pay Later option, you’re essentially deferring your payment to a later date. Instead of paying the full amount upfront, you’ll make multiple payments over time to cover the cost of your purchase. Amazon offers two different Buy Now, Pay Later options: the Amazon Store Card and the Amazon Credit Builder.

Amazon Store Card vs Amazon Credit Builder

Both the Amazon Store Card and the Amazon Credit Builder work in similar ways, but people choose which to get according to their objectives.

With the Amazon Store Card, you’ll be issued a line of credit by Amazon. You can use this line of credit to make purchases on Amazon, and you’ll have the option to defer payment on those purchases for a certain period of time. The Amazon Credit Builder works similarly, but it’s designed for customers who are looking to build or improve their credit history.

When you make a purchase using the Amazon Buy Now, Pay Later option, the total cost of your purchase will be divided into multiple payments. You’ll need to make those payments by the due date to avoid fees and interest charges. Amazon will automatically deduct your payments from the payment method you linked to your account, so you don’t need to worry about manually making payments.

Eligibility Criteria for Amazon Buy Now Pay Later

To be eligible for the Amazon Buy Now Pay Later option, you’ll need to meet certain criteria. For the Amazon Store Card, you’ll need to have an Amazon account and be approved for a line of credit. For the Amazon Credit Builder, you’ll need to have a valid U.S. Social Security number and be at least 18 years old.

Benefits of Using Buy Now, Pay Later on Amazon

There are several benefits to using Amazon Buy Now Pay Later. Perhaps the most significant benefit is the ability to defer payment and spread out the cost of your purchase over time. This can be especially helpful if you’re making a large purchase and don’t want to pay the full amount upfront.

Additionally, because Amazon automatically deducts your payments, you don’t need to worry about remembering to make payments or incurring fees for missed payments.

Setting Up Buy Now, Pay Later on Your Amazon Account

If you’re interested in using the Amazon Buy Now Pay Later option, you’ll need to set it up on your account first. Here’s a step-by-step guide to help you get started:

Step-by-Step Guide to Enabling Buy Now, Pay Later

1. Log into your Amazon account
2. Navigate to the Payment Options section of your account settings
3. Select either the Amazon Store Card or the Amazon Credit Builder option, depending on which one you’re interested in using
4. Follow the prompts to apply for the card and link it to your account

Linking Your Preferred Payment Method

Once you’ve been approved for the Amazon Store Card or the Amazon Credit Builder, you’ll need to link your preferred payment method to your account.

This will be the payment method that Amazon deducts your payments from. To link your payment method, follow these steps:

1. Log into your Amazon account
2. Navigate to the Payment Options section of your account settings
3. Select the payment method you’d like to link
4. Follow the prompts to link the payment method to your account

Managing Your Buy Now, Pay Later Settings

Once you’ve set up Amazon Buy Now Pay Later on your account and linked your payment method, you can manage your settings to ensure everything is in order. To manage your settings, follow these steps:

1. Log into your Amazon account
2. Navigate to the Payment Options section of your account settings
3. Select either the Amazon Store Card or the Amazon Credit Builder option
4. Review your payment schedule and payment history to ensure everything is accurate

Shopping with the Amazon Buy Now Pay Later Option

Now that you’ve set up Buy Now, Pay Later on your Amazon account, you’re ready to start shopping! Here’s what you need to know about using Buy Now, Pay Later to make purchases on Amazon.

Finding Eligible Products for Buy Now, Pay Later

Not all products on Amazon are eligible for Buy Now, Pay Later. To find eligible products, simply look for the “Buy Now, Pay Later” badge on the product’s detail page. This badge indicates that the product is eligible for deferred payment.

Adding Items to Your Cart and Choosing Buy Now, Pay Later

Once you’ve found an eligible product, simply add it to your cart like you would with any other purchase. During the checkout process, you’ll be given the option to choose Buy Now, Pay Later as your payment method. Simply select this option and follow the prompts to complete your purchase.

Completing Your Purchase with Buy Now, Pay Later

Once your purchase is complete, you’ll receive confirmation of your order and your payment schedule. Amazon will automatically deduct your payments from your linked payment method, so you don’t need to worry about remembering to make payments or incurring fees for missed payments.

Repaying Your Buy Now, Pay Later Balance

While Amazon Buy Now Pay Later can be a convenient option for making purchases, it’s important to remember that you’ll still need to repay your balance. Here’s what you need to know about repaying your Buy Now, Pay Later balance.

Understanding Your Payment Schedule

When you make a purchase using the Amazon Buy Now Pay Later option, your total cost will be divided into multiple payments. Your payment schedule will be determined based on the terms of your card and the total cost of your purchase. It’s important to review your payment schedule to ensure you understand when payments are due and how much you’ll need to pay.

Making Payments on Your Buy Now, Pay Later Balance

To make payments on your Buy Now, Pay Later balance, simply ensure that your linked payment method has sufficient funds to cover your payment. Amazon will automatically deduct your payments from your payment method, so you don’t need to worry about manually making payments.

What Happens If You Miss a Payment?

If you miss a payment on your Buy Now, Pay Later balance, you may be subject to fees and interest charges. It’s important to review the terms of your card to understand the consequences of missing a payment. To avoid this, make sure to review your payment schedule and ensure that your linked payment method has sufficient funds to cover your payments.

Conclusion

The Amazon Buy Now Pay Later option can be a convenient way to make purchases on the site. By spreading out the cost of your purchases over time, you can make larger purchases without worrying about the upfront cost. If you’re interested in using Buy Now, Pay Later, be sure to review the eligibility criteria, set up the feature on your account, and familiarize yourself with the payment schedule and repayment process. With these tips in mind, you can take advantage of this convenient payment option and enjoy a smoother shopping experience on Amazon.