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P3, a buy now, pay later (BNPL) company, can help you split up retail purchases and pay for them over time. Primarily, P3 is geared toward online shopping, both through your web browser and via mobile app. You can also use P3 in-store as long as the retailer you’re buying from accepts P3 as a payment method.

Here’s what you should know:

No interest for Pay-in-4: P3’s popular Pay-in-4 plan doesn’t charge interest. You’ll make your first payment up front, and your final three payments are due every two weeks.
Offers longer-term financing: For purchases over $400, you can opt to pay over six or 12 months. These plans come with interest rates between 0.00% and Not specified.
Can still qualify with so-so credit: P3 determines your eligibility with a soft credit pull. This can make it easier to qualify for than a credit card.
Access to exclusive deals: P3 offers discounts and deals on brands like Finish Line, Skechers, Urban Outfitters and more.
No hard credit checks, ever: Some BNPL apps (such as P2) require a hard credit check if you opt for monthly financing. No matter how you want to split up your payments, P3 only runs a soft credit check.
Not as easy to use in-store: You have to create a digital credit card and add it to your Apple Pay or Google Wallet to use P3 in a store. Also, not all stores accept P3 (very few, depending on where you live).
Best for disciplined online shoppers: If you’re shopping online and want to finance retail items like clothes, shoes and home goods, consider P3. You won’t pay any interest on Pay-in-4. But beware — BNPL apps can lead to overspending because they’re easy to use and may encourage impulse buys.

P3 pros and cons

There are tons of BNPL sites and apps to choose from, so it can take some time to find the one that’s best for you. Reviewing the pros and cons might help you decide.

Pros

No interest for Pay-in-4 plan
Can pay over six or 12 months for larger purchases (in most states)
No impact to your credit score

Cons

Could lead to overspending
Can only contact customer service via web form (no phone number or chat)
Will not help you build credit
Charges late payment fees

P3’s Pay-in-4 plan can be a great way to make retail purchases more manageable. You won’t pay any interest, and you only have to put 25% down. If you’re new to P3, you’ll have a $600 spending limit. Using P3 responsibly and making your payments on time can unlock higher amounts.

P3 also has a monthly financing option called Pay Monthly (which does come with interest). You must spend more than $400, and you’ll have six or 12 months to pay what you owe.

Not all P3 retailers participate in Pay Monthly, and a down payment might be required. Additionally, Pay Monthly is not available if you live in Hawaii, Nevada, New Mexico or West Virginia.

One of P3’s biggest pros — and biggest cons — is how easy it is to use. Using any BNPL app can lead you to spend more than you think. You’ll only have to put a small portion down, and the instant gratification of BNPL can lead to impulse buys.

P3 requirements

Unlike most personal loans, many BNPL apps use a soft credit hit to determine your eligibility. As a result, it doesn’t have a minimum credit score requirement.

That said, if you’ve been a customer for less than six weeks, P3 might only let you make one order at a time, and at a lower limit. After you’ve shown that you can use the app responsibly, it may allow you to finance more often, and in larger amounts.

You must also meet the below requirements to finance with P3 online and in stores.

Minimum credit score	No minimum credit score
Residency	Available in all 50 states, plus the District of Columbia
Age	Must be at least 18 years old
Administrative requirements	Must have a valid U.S. address, email address and cell phone number
Other eligibility requirements	For Monthly Payments: pass identity verification For P3 Card: pass identity verification and eligibility checks (through a soft credit pull) For all payment plans: must be authorized to use the credit or debit card you’re using to make your down payment and future payments.

If you meet the benchmarks listed above, your purchase must also meet additional requirements. While P3 does allow borrowers to use its funding for a variety of purposes, there are certain expenses it will not finance. Also, to use P3, the retailer you’re shopping with must accept it as a payment method.

[mmps name=’personalloan.320.bankName’] CAN be used for…	[mmps name=’personalloan.320.bankName’] CANNOT be used for…
Clothing, shoes, accessories and cosmetics Amazon purchases Household items like mattresses, furniture and dishes Food items from participating retailers (including DoorDash)	Gift cards Weapons, ammunition, fireworks, vapes and other dangerous goods Alcohol Prescription drugs Gambling Personal services like haircuts and housekeeping

[mmps name=’personalloan.320.bankName’] CAN be used for…

[mmps name=’personalloan.320.bankName’] CANNOT be used for…

Clothing, shoes, accessories and cosmetics

Amazon purchases

Household items like mattresses, furniture and dishes

Food items from participating retailers (including DoorDash)

Gift cards

Weapons, ammunition, fireworks, vapes and other dangerous goods

Alcohol

Prescription drugs

Gambling

Personal services like haircuts and housekeeping

As a BNPL company, P3’s options might not work for your borrowing needs. If you think a personal loan is a better fit, shop around for a lender that can offer you the best-fitting rates, terms and amounts.

Best personal loan options for:

How to shop with P3

There are three ways to use P3: via mobile app, online through your web browser and in-store.

How to use P3 online via mobile app

Download the mobile app.
Create an account.
Start shopping.
Complete your purchase with your desired P3 financing option.

How to use P3 online through your web browser

Check out P3’s shop directory to find a participating retailer.
When you’re ready to check out, choose P3 as your payment method.
If P3 approves your order, enter in the card you would like to use to make your down payment. When that payment is processed, P3 will create an account for you.
Set up your account password on P3’s website or its mobile app so you can make future purchases.

How to use P3 in-store

Download P3’s app and create an account.
Click on the “in-store” tab, follow the prompts to create an P3 Card and add it to your digital wallet.
Check the app to find brick-and-mortar locations near you that accept P3.
Use your digital wallet to pay with your P3Card when you’re checking out.

How P3 compares to other BNPL companies

Even if you believe P3 aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how P3 stacks up against similar personal loan lenders.

BNPL app	P3		P2
Minimum credit score	No minimum credit score	No minimum credit score	Not specified
Annual percentage rates (APRs)	0.00% for Pay-in-4 0.00%-Not specified for Pay Monthly	0.00% for Pay in 4 0.00% for Pay in 30 days 0.00%- for Financing	0.00% for Pay in 4 0.00%-Not specified for monthly installments
Loan amounts	Up to $600 for new customers Starting at Not specified for Pay Monthly	No set minimum or maximum	Not specified – Not specified
Repayment terms	Six weeks for Pay-in-4 Not specified to Not specified months for Pay Monthly	Six weeks for Pay in 4 30 days for Pay in 30 days Up to 24 months for Financing	Not specified to Not specified months
Late fees		Varies by plan (, not to exceed 25% of your amount due for Pay in 4)	None
Type of credit pull	Soft credit pull for all plans	Soft credit pull for all plans	Soft credit pull for Pay in 4 Hard credit pull for monthly installments
Bottom line	P3 is transparent when it comes to how much a new user can borrow. However, it offers shorter repayment terms than and P2.	Like Affirm, won’t help you build credit, since it only uses a soft credit pull. Still, it doesn’t specify how much you can borrow.	P2 plans have higher loan amounts and longer repayment terms. It also doesn’t charge late fees. But its monthly installments carry the highest maximum APR.

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Frequently asked questions

Out of all the users we surveyed, our BNPL study shows that P3 is the third most-used BNPL app, behind PayPal and P2.

One of the biggest drawbacks of P3, specifically, is that it does not report your payments to the credit bureaus. Although that means late payments won’t drop your credit, the lack of credit reporting means on-time payments won’t help you, either.

Splitting up payments on retail purchases can make them seem cheaper than what they are. You might be tempted to make impulse purchases. According to LendingTree’s BNPL tracker, 35% of BNPL users are only somewhat confident that they can pay back their BNPL loans on time.

P3 does not affect your credit score. On-time payments won’t help you, and late payments won’t hurt you. If you’re looking to build credit through borrowing, consider some BNPL alternatives, like a credit card or personal loan.

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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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