What is my spending limit?
Your spending limit is your purchasing power on the Perpay Marketplace.
You can use this to guide your shopping experience on Perpay and plan your Marketplace orders around your available spending limit.
How does my spending limit impact my orders?
To be eligible for approval, all Marketplace orders must be within your current available spending limit.
We are not able to make any exceptions to our spending limit policy. If your order is over your current available spending limit, you will need to edit your order for it to be eligible for review by our Approvals Team.
How do you calculate my spending limit?
When you first sign up, your spending limit is based on factors such as the estimated net pay you enter when you tell us about your employment details.
Once you begin to place Marketplace orders and make payments, our Approvals team will factor in your account history and regularly evaluate your account to see if you are eligible for a spending limit increase.
Placing Marketplace orders and making payments on time builds your positive repayment history. Building a positive payment history on Perpay is the best way to qualify for a spending limit increase. As you make on-time payments towards Marketplace orders, there is a higher chance you’ll see your spending limit go up!
Can I increase my spending limit?
The best way to increase your spending limit is to make on-time payments to any outstanding Marketplace orders you have with Perpay.
If you are eligible for an increase our Approvals Team will automatically apply that to your account for you!
Our Approvals Team is unable to take requests to increase your spending limit directly.
Where can I find my available spending limit?
When viewing your Perpay Dashboard, you can see your current available spending limit in the 'Marketplace' box as pictured below.
Your available spending limit is calculated in the following way:
Total Spending Limit - Outstanding Balance = Available Spending Limit
Your outstanding balance is the total remaining balance on all approved orders on your account. This total will automatically update each time a payment applies to your Marketplace order or a previously approved order is canceled or credited by our Customer Success team.
Marketplace orders are non-recourse. The only consequence of failing to make all agreed Marketplace order payments is potentially losing access to the Marketplace to place future orders.