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P2 is a lender that offers buy now, pay later (BNPL) and personal loans that can help you break up retail purchases at partner and non-partner stores. However, shopping with a non-partner store requires an extra (yet easy) step of creating a virtual card. BNPL with P2 is interest free, though its long-term personal loans may come with interest.

0% financing available: You don’t have to pay interest on BNPL plans, though you’ll have much less time to pay it off — just six weeks as opposed to the Not specified to Not specified months that come with an P2 personal loan.
No fees: P2 doesn’t charge its customers any fees, even late fees. However, if you miss any payments, this could impact your credit score.
Offers soft credit pulls: You can prequalify for a personal loan through P2 without any impact to your credit score. And only long-term loans require a hard credit pull when you actually apply (not BNPL).
Down payment may be required: P2 may require you to provide a down payment for certain purchases if you take out a loan. Even the BNPL plan requires the first of the four payments upfront when you check out.
Smaller loan amounts: Many personal loan lenders offer borrowing amounts up to $50,000. Comparatively, P2 offers small loans from Not specified to Not specified.
Best for retail shoppers: P2 can help alleviate the stress that comes with buying a big-ticket item by allowing you to pay over time. Plus, P2 only uses a soft credit pull to determine your eligibility for BNPL, making it a solid choice if you have less-than-perfect credit.

P2 pros and cons

Like any lender, P2 has a mix of benefits and drawbacks you’ll want to consider before taking out a loan. Here’s what you’ll want to weigh out:

Pros

0% financing available for short-term BNPL loans
Doesn’t charge any fees
Checking eligibility doesn’t hurt your credit, and neither does applying for BNPL
Can borrow as little as Not specified

Cons

Won’t work if you need to borrow more than Not specified
May have to provide a down payment
Won’t know if your purchase is approved until checkout

P2 loans are unique, in that you can choose between a short, six-week loan with no interest or a long-term personal loan with an annual percentage rate (APR) ranging from 0.00% to Not specified APR. The lender doesn’t charge users any fees — even if you’re late. And while traditional lenders offer minimum loans of $1,000 to $2,000, P2 provides small loans — for as little as Not specified.

On the downside, P2 can make it a little hard to plan. Every time you choose P2 at checkout, consider that a loan application. P2 reviews your soft credit report, payment history and other factors. Depending on the circumstances, it could decline you. This is true even if you’ve successfully used P2 in the past.

P2 requirements

Unfortunately, besides being at least 18 years old, P2 doesn’t provide much insight as to other requirements you’ll need to meet. Here’s what we do know:

Minimum credit score	Not specified
Residency	Must live in the U.S., U.S. territories or Canada
Miscellaneous eligibility criteria	Affirm will consider the following details: Income (will need to verify with Affirm) Credit history Current debt Recent bankruptcies Where you’re shopping Loan size Payment history with Affirm

If P2 won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting interest rates, loan terms and amounts.

Best personal loan options for:

How to get a loan with P2

Once you make your decision and go to the checkout, if the retailer is an P2 partner, you’ll have the option to apply for a loan. P2 offers multiple ways to break up your payments when you make a purchase you’re not able to afford upfront. Here’s how each of them work:

P2 Pay in 4

This involves breaking up your purchase amount into four equal payments, which P2 will charge every two weeks. You’ll have to make the first payment upfront during your purchase. The Pay-in-4 plan does not come with interest or fees, and applying for it won’t hurt your credit score (but late payments will). This payment plan is best for smaller purchases.

P2 loan

If you need to make a larger purchase, an P2 loan may be a better option than BNPL. While this plan does come with interest, you’ll have a longer amount of time to pay off the loan. Annual percentage rates (APRs) can run from 0.00% to Not specified and you can choose to repay it in Not specified to Not specified months. Further, P2 reports some loans to Experian which can help boost your credit score.

Virtual card

You can still use P2 to shop with a non-partner store, but you have to create a virtual card first. Go to P2’s website or log onto the app to request a virtual card. This will generate a unique credit card number that you then use online like any other credit card.

In-store shopping with a virtual card requires one last step. After you create your virtual card, add it to Apple or Google Pay, and then choose your virtual card once you’re inside your digital wallet.

P2 virtual cards are accepted almost everywhere that also accepts Visa. Also note that your virtual card will expire within 24 hours if you don’t use it.

How P2 compares to other personal loan companies

Even if you believe P2 aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how P2 stacks up against similar personal loan lenders.

	P2	P3
Minimum credit score		No minimum credit score	No minimum credit score
APRs	0.00% – Not specified	0.00% – Not specified
Loan amounts	Not specified – Not specified	Starting at Not specified	No set minimum or maximum
Repayment terms	Not specified to Not specified months	Not specified to Not specified months	Up to months
Late fees	None		, not to exceed 25% of your amount due
Funding timeline	May receive funds within minutes of applying	May receive funds within minutes of applying	May receive funds within minutes of applying
Bottom line	Of the three lenders, P2 offers the biggest loans and longest repayment terms. Unlike Afterpay and , it also doesn’t charge late fees.	P3 offers similar APRs to P2, but you only have 12 months to pay back your loan. To get a monthly Afterpay loan, you’ll have to spend at least Not specified.	offers the lowest maximum APR of the three. It does give you a longer time to pay back your loan than Afterpay, but terms are still not as long as P2’s.

Minimum credit score

No minimum credit score

APRs

0.00% – Not specified

Loan amounts

Not specified – Not specified

Starting at Not specified

No set minimum or maximum

Repayment terms

Not specified to Not specified months

Up to months

Late fees

None

, not to exceed 25% of your amount due

Funding timeline

May receive funds within minutes of applying

Bottom line

Of the three lenders, P2 offers the biggest loans and longest repayment terms. Unlike Afterpay and , it also doesn’t charge late fees.

P3 offers similar APRs to P2, but you only have 12 months to pay back your loan. To get a monthly Afterpay loan, you’ll have to spend at least Not specified.

offers the lowest maximum APR of the three. It does give you a longer time to pay back your loan than Afterpay, but terms are still not as long as P2’s.

Frequently asked questions

P2 offers loans ranging from Not specified to Not specified. If your purchase is larger than that, you may have to consider a traditional personal loan instead.

P2 doesn’t offer specific details around its loan credit requirements. However, it does consider factors like your income, credit history and any debts you currently have.

Although you might be approved to use P2 for one purchase, it might deny you for another later on. You won’t find out whether P2 will approve your purchase until checkout. You can create a virtual card ahead of time as a workaround, but that’s an extra step.

Also, P2 and other BNPL apps are generally easy to use and to qualify for. This can lead to impulse purchases. According to a LendingTree survey, 34% of BNPL users paid late at least once over one year’s time.

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Personal Loans Resources

Loan Amount	Loan Term (Years)	Rate	APR	Origination Fee	Estimated Fixed Monthly Payment*
$1,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$5,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$5,000	5	n/a*%	n/a*%	$n/a*	$n/a*
$10,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$10,000	5	n/a*%	n/a*%	$n/a*	$n/a*
$15,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$15,000	5	n/a*%	n/a*%	$n/a*	$n/a*
$20,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$20,000	5	n/a*%	n/a*%	$n/a*	$n/a*
$25,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$25,000	5	n/a*%	n/a*%	$n/a*	$n/a*
$30,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$30,000	5	n/a*%	n/a*%	$n/a*	$n/a*
$35,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$35,000	5	n/a*%	n/a*%	$n/a*	$n/a*
$50,000	3	n/a*%	n/a*%	$n/a*	$n/a*
$50,000	5	n/a*%	n/a*%	$n/a*	$n/a*

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