Wisetack is an easy way to finance a purchase. Your business gets paid when you provide the product or service, and customers pay over time.
Checking loan options does not impact a customer's credit score. And there are no prepayment fees, late fees, or compounding interest.
Wisetack sends a financing application directly to your customer. They check their financing options and confirm their loan in under a minute.
We understand that especially for bigger purchases and projects, customers apply for loans hours, days, or even weeks in advance, and you need to know whether or not they've been approved for a loan.
Once a customer submits their application, they get an instant decision from Wisetack. Your customer management software will immediately show a notification whether the customer has been approved. Approvals are valid for 30 days.
When in doubt, feel free to contact us with any questions.
Email us: support@wisetack.com
Call or text us: 1-833-927-0333
Depending on the software you use, your notifications will show up differently. If "processing payment" or "payment pending" shows up, you'll know that the customer has confirmed that the work is done, and that the funds will be on their way to you the next business day. If you're with the customer in person, they can also show you the confirmation screen on their phone.
You'll also get emails from Wisetack:
1) When your customer is approved for a loan.
2) When your customer confirms the loan.
3) When the funds are en route to your bank account.
Your customer needs to confirm they received the product or service before we start their loan and send the funds to you. You may have to remind them to click "Yes" on the final screen in the loan application, especially if they started that application earlier in the day or week.
Wisetack also sends reminders to your customer by email and/or text.
Think of it like taking a credit card - you may know they're going to pay with a card, but you still need to swipe that card at the end before you leave.
All of your Wisetack reporting, notifications, and transactions reside in the order management software you already use. There is no need for an additional Wisetack login.
Wisetack also sends you emails with transaction information.
Wisetack is a simple way to finance a purchase by paying in monthly installments. There are no prepayment fees, late fees, or compounding interest. Checking your loan options does not impact your credit score.
The application is initiated by a business and completed by you. Seeing your financing options takes less than a minute. We’ll usually give you several options to choose from, with various loan lengths and sizes of monthly payments.
When you take out a loan, we pay the business directly and you pay us over time.
The rate you get with Wisetack may be lower than the rate your credit card company charges for maintaining a balance. Wisetack loans are simple interest, while credit cards charge compound interest. We don’t charge late fees, prepayment fees or origination fees.
With Wisetack, you know exactly how much you will pay. Many people like knowing exactly what they will pay every month and find that taking out a loan with a fixed term for a specific purpose may be more affordable than a credit card.
It might. We report payment history to the credit bureaus. Paying back on time can have a positive effect on a credit score while paying late will have a negative effect. It’s easy to set up automatic payments to ensure on time payments and help build a positive credit history.
Checking your eligibility for a loan does not impact your credit score
There is no "one" credit score, as it turns out. The article below explains all the major factors that can account for variability in credit scores:
https://www.creditkarma.com/advice/i/why-credit-scores-differ-between-credit-reporting-agencies/
(note: Wisetack has no affilation with Credit Karma)
You have the option to set up automatic debits from your bank account when you take out the loan. Additionally, you will receive an email shortly after taking out the loan with instructions on how to set up your online account and payments. You can set up automatic debits from your bank account, you can choose to log in every month to make a payment from your bank account, or you can mail a check. We do not accept credit cards as a form of payment.
Sometimes. Linking your bank may be required as part of your application.
Even if it's optional, we do recommend setting up automatic ACH (bank-based) payments, either during the application or after the loan is finalized, as it helps to ensure on time payments. Building a history of on time loan payments can be a good way to improve your credit score.
Feel free to email, call, or text us anytime! We’d be happy to answer your questions. Also, don't hesitate to contact us with concerns or complaints.
Email: support@wisetack.com
Call or text: +1-833-927-0333