Your spending limit is your spending power to shop on Perpay, determined by various factors. When you first sign up, an estimated spending limit is assigned based on the net pay input during sign-up, but this may later be adjusted following account verification. Use your spending limit as a guide to inform your shopping experience, and remember that all orders must remain within it to be eligible for approval.
Initial vs. Final Spending Limits
When you first create a Perpay account, an initial estimated spending limit is assigned. This limit is subject to change after account verification and over time based on your repayment history.
Placing orders and making payments on time builds your positive repayment history and is a large factor when our Approvals Team assigns your spending limit. Missed or delayed payments can lower your spending limit, making it essential to adhere to timely payments. Additionally, building a strong payment history improves your chances of higher future limits.
Factors Influencing Spending Limit Decreases
Several factors can lower your spending limit:
Payment History: Late or missed payments negatively impact your spending limit.
Underpaying: Spending limits may be lowered if received payments do not meet your total minimum payment requirement.
Your account is regularly evaluated by our Approvals team to see if you qualify for a higher spending limit! Ensure all documentation and account information is current to maximize your chances of approval.
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 your balance, you’ll see your spending limit go up!
Spending limit vs. Balance:
Your spending limit is your spending power on Perpay. Placing an order doesn’t lower your total spending limit, but it does reduce your available spending limit until you’ve paid it down. Your available spending limit is your total spending limit minus your outstanding balance.
Your outstanding balance is how much you have left to pay on orders you’ve already placed. This total will automatically update each time we receive a payment. You can find your outstanding balance under the Account Summary section of your Perpay dashboard (shown below). Remember to take your outstanding balance into account when placing new orders within your spending limit.
FAQs on Spending Limits
How often are spending limits reviewed? Spending limits are regularly reassessed by our Approvals Team. Direct deposits meeting platform requirements may also trigger automatic reviews.
Can I request a spending limit increase? No, increases are applied automatically when you are eligible. Our Approvals Team can't take requests to raise your limit.
Can my spending limit be restored after a decrease? Yes. This is dependent on the reasons for the decrease, such as missed payments or payments below required minimum payments. Making on-time payments that meet your minimum is the best way to become eligible for increases again.
What are direct deposit requirements, and why do they matter? To activate limit increases, direct deposit payments must meet your minimum payment amount, ensuring consistency for account evaluations.
What if my order is over my available spending limit? We aren’t able to make exceptions to our spending limit policy. Cancel the order, then place a new one within your available spending limit. Changes to orders are automatically reviewed by our Approvals Team, so keeping your order within your limit gives it the best chance of approval.
What Happens to Credits After Cancellation?: Any credits applied to your original order will return to your account once the order is canceled. These credits will automatically apply to your next qualifying order.
Why Does My Current Order Still Exceed the Limit After Using Credits?: Know that your order total will need to fall within your available spending limit before credits are applied and after taxes and shipping.