Financing

answer questions you have

What is pay over time and how do I use it?

Monthly financing through Klarna is a payment option offered at the checkout of some of our partnering online stores. The open-end line of credit is issued by WebBank in partnership with Klarna, and allows you to pay for your purchases over time. Simply shop at a partner merchant and select Klarna at checkout to apply for an account. Complete terms and conditions are available partnering online stores.

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https://www.klarna.com/us/customer-service/what-is-pay-over-time-and-how-do-i-use-it/

What is WebBank and how is it related to Klarna?

WebBank is the lender of your Klarna credit account. It is an FDIC-insured, state-chartered industrial bank headquartered in Salt Lake City, Utah.

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https://www.klarna.com/us/customer-service/what-is-webbank-and-how-is-it-related-to-klarna/

What types of financing options does Klarna offer?
  • Flexible Month-to-Month: Flexible Month-to-Month purchases are standard purchases with no fixed term commitment, similar to a traditional credit line. You decide what’s best for you; you simply need to make at least your minimum monthly payment. These are also sometimes called “standard purchases.”
  • Planned Payments: Planned Payments is a promotional offer which allows eligible orders to be purchased with a reduced APR. With planned payments, you will have a fixed monthly payment. The APR varies based on the current available promotions.
  • No Interest If Paid In Full: No Interest If Paid In Full is a promotional offer in which interest is deferred during the promotional period. If the entire balance is paid before the expiration date, no interest will be charged. Keep in mind, you still need to make at least your minimum monthly payment. These are also sometimes called “deferred interest purchases.”

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Link to answer
https://www.klarna.com/us/customer-service/what_types_of_financing_options_does_klarna_offer/

Do you perform a credit check?

When you submit your application for monthly financing, a full credit check will be performed. This will show up as a hard inquiry on your credit report.

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https://www.klarna.com/us/customer-service/perform-credit-check/

What is my credit line?

If you are approved, you will receive an email with your credit line. You can also view your current credit line on your monthly billing statement.

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https://www.klarna.com/us/customer-service/what-is-my-credit-line/

How do I increase my credit line?

If you are approved, you will receive an email with your credit line. You can also view your current credit line on your monthly billing statement.

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Link to answer
https://www.klarna.com/us/customer-service/how-do-i-increase-my-credit-line/

Will I receive a physical card?

No. Your account is similar to a traditional credit card, without the card. To checkout, simply select Klarna financing during checkout and enter your personal information.

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https://www.klarna.com/us/customer-service/will-receive-physical-card/

Is there an annual fee?

There is NO annual fee to use Klarna.

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Link to answer
https://www.klarna.com/us/customer-service/is-there-an-annual-fee/

What is the Annual Percentage Rate?

The Annual Percentage Rate (APR) for standard purchases is 19.99%. However, the APR may vary for special offers and promotional purchases. If you are charged interest, the charge will be no less than $2.00 per month. For more information, please view our terms and conditions

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https://www.klarna.com/us/customer-service/what_is_the_annual_percentage_rate/

How do I find my Klarna account number?

To view your account number, login to klarna.com and follow the following steps:

  • From the top right menu, select “Credit Account.”
  • Select “View all statements.”
  • Select “Download” on the statement you wish to view.
  • The account number is on the top right corner of your statement.

You can also see your account number in the Klarna app:

  • Open the app and select “Spending.”
  • Select “Balances.”
  • Select “Klarna Account.”
  • If you scroll down a little on the page you will see your account number.
  • Please note, you don’t need your account number to complete a purchase. If the option to slice up your payments is available, you can simply add purchases to your account by filling in the required fields at checkout.

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Link to answer
https://www.klarna.com/us/customer-service/find-klarna-account-number/

Where can I view my account balance?

You can view your account balance by logging in on klarna.com, or by checking your statement in the Klarna app.

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https://www.klarna.com/us/customer-service/can-view-account-balance/

How do I view my statement?

You can view your statement by logging into klarna.com and/or the Klarna App. Once logged in, select the “Spending” tab, then “Balances” and navigate to “Klarna Account.” From here, you can scroll down and view your payment as well as statement history.

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https://www.klarna.com/us/customer-service/how-do-i-view-my-statement/

How can I avoid paying interest on promotional purchases?

To avoid paying interest on No Interest If Paid In Full purchases, pay your promotional balance in full before the expiration date. You can view the expiration date in the “Deferred Interest Calculation” section of your statement. You must also pay at least the minimum payment due each month to avoid paying late fees.

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Link to answer
https://www.klarna.com/us/customer-service/can-avoid-paying-interest-promotional-purchases/

What is my due date and amount due?

We’ll email you on the 2nd of every month to let you know that your monthly statement is ready. You can view your minimum payment anytime after your first statement has been emailed to you by logging into your account at klarna.com, or checking your statement in the Klarna app. Your payment will be due on the 26th of every month. At this time, we’re not able to change your due date. However, we’ll remind you of upcoming payments.

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https://www.klarna.com/us/customer-service/due-date-amount-due/

How is my minimum payment due calculated?

Your minimum payment due each month will be the greater of: $25.00 OR 2% of the balance of the account (not including promotional orders and past due amounts) + Interest on the account (not including interest on promotional orders) + Late fees, NSF fees, minimum finance charges + Monthly Planned Payment amounts + Any past due amounts

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https://www.klarna.com/us/customer-service/minimum-payment-due-calculated/

How do I pay my statement?

An email will be sent on the 4th of every month letting you know your statement is ready. You can view your statement, make payments, and manage your account by logging into klarna.com and/or the App. Pay online: the quickest and easiest way to pay! You can pay using a debit card or your bank account information. (Note, we are not allowed to accept credit card payments)

  • Log in and select “View credit account.”
  • Select “Make a Payment.” Choose the payment amount.
  • Click “Continue.”
  • Select “Confirm Payment.”

You can also turn on automatic payments in the “Payment Settings” section of your account. Please note, you must use your bank account and routing numbers to make an online payment on your credit account. Pay by check:

  • To pay by check, please include your account number in the memo section and mail it to:
    Klarna Inc. ATTN: Klarna Credit P.O. Box 206487 Dallas, TX 75320-6487 Please allow 5-7 business days for your check to be received.

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Link to answer
https://www.klarna.com/us/customer-service/how-do-i-pay-my-pay-over-time-statement/

Can I change my due date?

At this time, we’re unable to change your due date. However, we’ll send you an email reminder two days before your due date.

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Link to answer
https://www.klarna.com/us/customer-service/can-change-due-date/

How will my payments be applied to my account?

When paying the minimum payment due, your payment will be applied in the following order:
1. Monthly Planned Payments 2. Billed interest 3. Billed fees 4. Outstanding balance If you pay more than the minimum payment due, the excess will be applied to the balance with the highest interest rate, then the second highest interest rate and so on. However, during the two billing cycles immediately preceding the expiration date of any No Interest If Paid In Full purchase, any excess payment will first be applied to the No Interest If Paid In Full balance. You may at any time pay your full account balance without any additional charge for prepayment.

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Link to answer
https://www.klarna.com/us/customer-service/how-will-my-pay-over-time-payments-be-applied/

Will there be a change to my planned monthly payments if the merchant provides a partial refund?

There will not be a change to your monthly payments if you receive a partial refund from the merchant. Your payments will remain the same and you’ll pay off the balance sooner.

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Link to answer
https://www.klarna.com/us/customer-service/will-there-be-a-change-to-my-planned-monthly-payments-if-the-merchant-provides-a-partial-refund/

What happens if I miss a payment?

If you miss a payment on your Klarna monthly financing account, you will be charged a late fee of up to $35. If you are part of a No Interest If Paid In Full promotion, and you miss a payment, you will be charged a late fee, but you will not lose the promotion.

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https://www.klarna.com/us/customer-service/what-happens-if-i-miss-a-payment/

What happens if I don’t pay off my No Interest If Paid In Full promotion before it expires?

If you do not pay off the No Interest If Paid In Full balance before the expiration date, you will be charged the interest that accumulated since the transaction posting date at 19.99% APR. The amount of interest that has been accruing is tracked on the first page of your Klarna monthly statement.

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Link to answer
https://www.klarna.com/us/customer-service/happens-dont-pay-off-no-interest-paid-full-promotion-expires/

Is there a penalty for late payments?

If the minimum payment due is not made by the payment due date, you will be charged a late fee of up to $25. If the minimum payment due is less than $25, the late fee will be the minimum payment due amount. If the minimum payment due is not made by the payment due date more than once in six months, you will be charged up to $35 without exceeding the minimum payment due. View Terms and Conditions

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Link to answer
https://www.klarna.com/us/customer-service/is-there-a-penalty-for-late-payments/

Is there a penalty or fee for paying off your entire balance early?

There is no penalty or fee for paying off your entire balance early.

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Link to answer
https://www.klarna.com/us/customer-service/is-there-a-penalty-or-fee-for-paying-off-your-entire-pay-over-time-balance-early/

How do I make another purchase using my Klarna account?

Adding another purchase to your Klarna account is easy! When checking out, be sure to use the information associated with your Klarna account; if the order is eligible, you will see the Klarna option.

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https://www.klarna.com/us/customer-service/how-do-i-make-another-purchase-using-my-klarna-account/

Why is monthly financing not available at the checkout?

There are a number of factors taken into consideration to determine which payment methods are offered. Some stores that offer Klarna don’t offer financing. Even if the store offers financing with Klarna, it may not be available for all products and purchases. All available payment options will be presented at checkout.

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Link to answer
https://www.klarna.com/us/customer-service/why-is-monthly-financing-not-available-at-the-checkout/

Why wasn’t my purchase approved with Klarna?

Klarna does not approve 100% of all orders and our aim is to support responsible, ethical and sensible spending habits. Things to Consider:

  • A rejection does not negatively impact your credit score.
  • Length of time you have been a Klarna customer may increase your limit. History of positive behavior as a Klarna customer can improve your chances of being approved.
  • Attempting too many purchases in a short amount of time may result in being rejected (fraud prevention).
  • If you still have balances on unpaid purchases, it would be beneficial to pay them off to possibly increase your spending limit.
  • The total amount in the shopping cart may be too high, so try to remove an item(s) and try again.
  • Approval decisions are not based solely on credit score, but rather multiple internal data points such as past payment history.
  • Each purchase is a new decision. One rejection does not mean that your future purchases will always be declined.
  • We understand that it can be frustrating to be declined for a purchase after being approved in the past. However, our approval process helps Klarna responsibly offer our services to our customers.

    Why was my ghost card purchase declined?

    Once you are approved for a Ghost card, you may be denied at check-out with a message that the Ghost card cannot be used at that store. While Klarna does not review each merchant available in the shopping app, we generally decline transactions at these merchants to promote financial wellness and best meet our regulatory, ethical, and risk standards:

    • Bill or Rent Payments
    • Food or Delivery Services
    • Gift Card Providers
    • Governmental Agencies
    • Medical Care
    • Online Gaming or Gambling
    • Rideshare Services
    • Subscription Services
    • Selling of Drugs or Alcohol

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    Link to answer
    https://www.klarna.com/us/customer-service/why-wasnt-my-purchase-approved-with-klarna/

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