Afterpay and other ‘Buy Now, Pay Later’ services have made it convenient for people to purchase expensive items without having to empty their accounts to pay the full price.
So, if you’re thinking of signing up with one, you might be wondering whether Afterpay asks for social security number (SSN). If so, keep reading to learn more!
Does Afterpay Ask for Social Security Number In 2022?
When you sign up for Afterpay, you’ll be asked to provide your name, address, date of birth, and phone number. You will not be asked for your social security number. Afterpay does not run a credit check when you sign up, so there’s no need for them to ask for your social security number.
If you want to understand how to use Afterpay, whether you have to pay any interest, read on for useful facts and tips!
How Does Afterpay Work
Afterpay, it’s basically a service that allows you to shop now and pay later.
If your retailer has Afterpay, you can buy products now and pay later at no interest. Shoppers can pay for the product within 6 weeks over four installments.
Although Afterpay doesn’t specify the minimum purchase amount, you’ll need to align to the set requirements from the retailer.
Here’s how it works:
First, you need to create an Afterpay account. You can do this on the Afterpay website or through the app. Once you’ve created an account, you’ll need to link your debit or credit card.
Once you’ve done that, you can start shopping! When you find something you want to buy, just select Afterpay at checkout. You’ll be shown the payment schedule, which will include the total amount due and the due dates for each payment.
Once you’ve made your first payment, your purchase will be delivered to you (as long as it’s in stock). And that’s it!
What info does Afterpay ask for?
Even though Afterpay does not require SSN, when signing up for Afterpay, you will need to provide the following details;
- Your Name
- Email address
- Date of Birth
- Phone number
- Valid delivery address
You will also need to create a password. Afterpay will then send you a text message with a verification code to confirm your identity. Once you have entered the code, you will be able to start using Afterpay!
What happens if you never pay Afterpay?
If you’re considering using Afterpay but are worried about not being able to make a payment, don’t be. You aren’t risking your credit if you don’t pay, there’s no interest, and the late fee is small.
Afterpay is a great way to budget for big purchases. You can spread the cost of your purchase over 4 equal payments, made fortnightly. And if you can’t make a payment, there’s no need to worry. You aren’t risking your credit score, as Afterpay doesn’t report missed payments to the credit bureaus.
There’s also no interest charged on Afterpay purchases, so you’re only ever paying for what you’ve purchased. The only fee you may be charged is a late fee of $10 if a payment is overdue.
Social Security Number (SSN)
Most people know their social security number by heart. It is, after all, one of the most important pieces of identification that a person has. But what exactly is a social security number?
A social security number is a nine-digit number issued by the Social Security Administration. The number is used to track individuals for the purposes of Social Security and other government benefits.
The social security number was first introduced in 1936 as part of the New Deal. The first numbers were issued to workers who were covered by the Social Security Act. The numbers were initially used for the sole purpose of tracking individuals for the purposes of Social Security benefits.
Today, the social security number is still used for that purpose, but it has also become a de facto national identification number. It is used by employers to verify identity and eligibility for employment, by credit agencies to evaluate creditworthiness, and by many other organizations for a variety of purposes.
Afterpay will not hurt your credit score. This is because Afterpay does not report to the credit bureaus. So, even if you miss a payment or default on your Afterpay agreement, it will not affect your credit score.
Your credit score is one of the most important numbers in your life. It’s a three-digit number that lenders use to decide whether to give you a loan and what interest rate to charge.
A high credit score means you’re a low-risk borrower, which could lead to a lower interest rate on a loan. A low credit score could lead to a higher interest rate and could mean you won’t be approved for a loan at all.
Credit scores are based on information in your credit report. The three main credit bureaus —Experian, Equifax and TransUnion—collect information about your bill-paying history, loans, credit card balances and any bankruptcies or foreclosures you might have had.
You don’t need an SSN to sign up for or use Afterpay. However, You’ll need to provide your name, email address, date of birth, and phone number when signing up for an account. For security purposes, you’ll also be asked to create a password.