Perpay+ FAQ's

Perpay+ is designed to help you establish and grow your credit history in a simple, low-cost way. When you enroll, you’ll receive up to a $1,000 Marketplace Spending Limit that’s reported to all three major credit bureaus—Experian®, Equifax®, and TransUnion®. Adding this Spending Limit to your credit profile can positively impact your credit score over time.

With Perpay+, you can track your progress right from your Perpay Dashboard. Your credit score updates monthly and is shown on a graph so you can see how it changes over time. We’ll also give you insights into what’s helping your score and where you have opportunities to improve. These tips highlight the positive habits worth keeping and simple steps that can make a difference.

We’re continuing to build more tools and features into Perpay+ to support your long-term financial success.

Perpay+ costs $5 per month. To use Perpay+, simply set up a small payroll direct deposit to Perpay. Once you’re set up, the $5 payment will be automatically processed each month—no extra steps needed.

Here’s how it breaks down based on your paycycle:

Because payments happen through direct deposit, they’re automatic and stress-free. Plus, this setup prepares you for success with other Perpay products, which all work the same way.

Perpay+ is built to help you establish healthy credit habits and grow your financial opportunities over time. Here’s what you can expect:

We report to all three major credit bureaus—Experian®, Equifax®, and TransUnion®. Reporting happens once a month, typically during the second half of the month. While the exact day can vary, you can expect to see updates reflected on your credit profile shortly after we report.

This regular reporting helps you build a positive credit history that counts toward your long-term goals.

Your Spending Limit is reported to the credit bureaus within 30-60 days of Perpay+ activation, usually during the second half of the month. From there, it is up to the credit bureaus to reflect it on their end, which usually takes ~5 days. Your account will continue to be reported every month moving forward.

Because credit scores are built on consistent habits, the biggest benefits come with time. As your Spending Limit shows up month after month, it adds positive history to your report—one of the most important factors in long-term credit growth.

You’ll be able to monitor your credit score in the app within 60 days of Perpay+ activation at the latest. Reminder: your Spending Limit is reported to the credit bureaus within about 30 days of Perpay+ enrollment.

Because reporting and updates depend on the credit bureaus, exact timing can vary. That said, most members see their score sooner than 60 days. And we’re working to make this turnaround even faster moving forward.

Connecting payroll direct deposit is the key to unlocking Perpay+. It’s what makes your $5 monthly direct deposit payment simple and automatic—no extra steps or manual payments needed.

Even more importantly, setting up direct deposit puts you on the path to the financial benefits Perpay offers. It’s what allows your Perpay+ account to be reported to the credit bureaus so you can build your credit score, and it’s the same process that powers other Perpay products like shopping in the Perpay Marketplace or using the Perpay Credit Card for everyday needs.

By starting with a small direct deposit for Perpay+, you’re setting yourself up for success across all of Perpay.

No, Perpay+ helps your credit profile even if you never place a Marketplace order. Simply having your Spending Limit reported each month establishes positive credit habits that matter over time. For example, a $0 balance on your account means you’re showing 0% utilization, which is a healthy factor on a credit report.

If you do make a purchase, Perpay makes it easy to succeed with automatic on-time payments through direct deposit. On-time payments are another key factor in building your score, and consistent repayment can help unlock higher Spending Limits of up to $3,500.

Over time, the benefits stack up: you’ll build a longer history with Perpay, show responsible use of credit, and have opportunities to grow your Spending Limit—all of which can positively influence your credit score.

Perpay+ is built to help you establish the fundamentals of a healthy credit score. These healthy factors appear on your credit report as soon as we begin reporting your account.

Credit building usually happens gradually, and your score also reflects activity from other accounts outside of Perpay. That means the overall changes you see depend on your full credit picture.

The important part is that Perpay+ ensures the positive factors we can control are always working in your favor. Some members notice improvements quickly, while for others, progress builds month after month.

Think of Perpay+ as a foundation: it gives you the habits and history that can lead to meaningful credit growth—especially when combined with responsible use of your other accounts and other Perpay products.

Yes—you can request to cancel Perpay+ at any time by reaching out to our support team.

This way, your credit report always reflects your Perpay+ activity accurately—and in the best possible light when your account is closed. If you’ve made a Marketplace purchase and are behind on payments, that may affect how cancellation is reported.

*Note: Canceling your Perpay account does not automatically stop payments. Since your employer sends deposits directly to your Perpay account, only you can update or remove direct deposit details in your payroll system. Perpay cannot make these changes for you. Please see your Perpay profile and support articles for instructions on stopping payments and withdrawing any overpaid amounts.

If you miss your $5 monthly Perpay+ fee for 60 days, you’ll lose access to Perpay+ features like credit score monitoring.

Even if your access is paused, your Perpay+ account will usually still be reported to the credit bureaus as open and in good standing. This means the positive history you’ve built doesn’t just disappear.

If you have a Perpay Marketplace purchase with unpaid balances, that history will reflect that you’re behind on payments for that order. Staying on top of those payments is important for keeping your credit profile healthy, whether or not you decide to cancel Perpay+.

If you see incorrect information related to your Perpay+ tradeline, reach out to our Customer Success Team:

📧 Email: hello@perpay.com

📫 Or write to us at:
​Perpay Inc.
2400 Market Street, Suite 300
Philadelphia, PA 19103

In your message, include:

We’re always improving! If you have ideas for new features or perks, let us know here. We’d love your feedback.