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Clearpay Limits: What You Need to Know

Clearpay is a buy-now-pay-later service that allows you to spread the cost of your purchases over 4 interest-free payments. However, there are limits on how much you can spend with Clearpay.

The maximum Clearpay limit is £1,500. However, your actual limit may be lower, depending on a number of factors, including:

  • Current outstanding orders: If you have multiple orders that you’re still paying off, it might affect your ability to make new purchases.
  • Repayment history: Consistently paying on time can positively influence your limit.
  • Length of relationship with Clearpay: The longer you’ve been a customer and maintained a good repayment history, the more likely your limit might increase.

Why Does Clearpay Have Limits?

Clearpay’s spending limits are not arbitrary; they are designed with specific purposes in mind:

  1. Promote Responsible Spending: Clearpay emphasizes the importance of financial well-being. By setting limits, they ensure that users don’t overspend and can manage their repayments comfortably.
  2. Protecting All Stakeholders: Limits safeguard not only the consumers but also Clearpay and its merchant partners. Ensuring that users can afford their purchases reduces the risk of defaults.
  3. Building Trust Over Time: For new users, Clearpay starts with a conservative approach, allowing for increased spending as trust is established through consistent repayments.

How to Increase Your Clearpay Limit

Increasing your spending limit with Clearpay is a journey of trust and responsibility:

  1. Maintain a Positive Repayment History: Timely payments are crucial. If you’ve had setbacks with late payments, focus on consistent on-time payments moving forward.
  2. Duration with Clearpay: The longer you’ve been a customer and maintained a good repayment record, the higher your limit might become.
  3. Utilize Clearpay’s Features: If you foresee challenges with an upcoming payment, use the app to extend the payment due date or contact Clearpay 24 hours before the due date.

Why Does My Clearpay Limit Keep Going Down?

Your spending limit can decrease due to various reasons:

  1. Late Payments: If you miss payments or consistently pay late, Clearpay might reduce your limit as a protective measure.
  2. Declined Orders or Payments: Insufficient funds leading to declined orders or payments can negatively impact your limit. Always ensure your card has at least 25% of the order’s value at the time of purchase or payment.
  3. Frequent Purchase Attempts: If you’re new to Clearpay and make multiple purchase attempts in quick succession, this might signal potential financial strain, leading to a reduced limit.

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