“Do you have a payment plan?”
This has been an increasingly common question from families trying to figure out how to budget their curriculum purchases over the course of a school year. With the recent transition to our new web host, Timberdoodle has been able to integrate Klarna Credit into our checkout process to allow customers to pay over time.
Now the question we’re being asked is, “How does it work?”
Klarna Credit is a flexible financing option which is offered at checkout on Timberdoodle.com. It allows you to pay for your purchases over time.
Applying is simple. When you get to the payment step at checkout, simply select the “Klarna Pay Over Time” option under Payment Methods, and once you click “Complete Order” you will be redirected to Klarna’s site to complete your purchase securely. They’ll walk you through a brief application process, and let you know in a matter of seconds if you’ve been approved. If approved, you’ll have a choice of how to pay:
Planned Payments: 6- to 36-month payment terms are available at a reduced promotional APR, and you can know up-front exactly what your total cost will be.
Flexible Month-to-Month: No fixed term commitment. You can pay your balance in full or make the minimum monthly payment (interest charges may apply); it’s your choice.
At that point you can opt to go ahead with the purchase using Klarna, or go back and choose a different payment method if you prefer not to use Klarna.
If Klarna is not able to approve your purchase, they will notify you of their decision and the reason.
Obviously interest will be applied over the term of your payment plan, but there are no added fees. For those of you who like to do your homework, Klarna’s Credit Account Agreement, including interest rate and other details, can be found here:
Complete Terms and Conditions are available here:
Many people don’t realize that PayPal also offers pay-later options, including No Payments and No Interest for 6 months on qualifying purchases. That could work out well for you, particularly if you anticipate a relatively short-term payoff. Of course, if you choose this plan you’ll want to keep in mind that the interest will catch up with you if you don’t pay within the six months!
To apply for PayPal Credit, select “PayPal” under Payment Methods at checkout, and then look for a link to apply from PayPal’s site. You can find more information on PayPal Credit here:
In any case, you’ll want to approach any pay-later options with a healthy level of caution. Make sure that if you do choose a credit plan, it’s something that fits within your educational budget.