Pay Later

Here you can read more about Pay Later and how to apply.

Signe avatar
Written by Signe
Updated over a week ago

Please note that this information only applies to Lunar in Denmark.

An expensive purchase - or maybe an expensive bill? Both can throw your finances off. With Pay Later, you have the opportunity to split a card payment between 350-10,000 DKK, giving you more room in your budget.

Split payment

  • Pay Later allows you to split a payment after it has been made.

  • You can split the payment into 3, 6, or 12 months. This means that the payment can be divided into smaller portions; over 3, 6, or 12 times.

  • Payment is withdrawn on the 1st of each month, and it costs: (transaction + interest) / number of months.

Here is an example:

  • October 10, 2023: The transaction is made in-store.

  • October 12, 2023: You choose to split the transaction over 3 months:

    • November 1, 2023: You deposit the 1st part (amount + interest).

    • December 2, 2023: You deposit the 2nd part (amount + interest)

    • January 3, 2024: You deposit the 3rd part and have now deposited the original amount + interest.

How many/large payments can I split?

  • You are provided with 10,000 DKK available for Split. You can use Pay Later for a maximum of 10 transactions.

What types of transactions can Pay Later be used for?

  • Pay Later can be used for most transactions between 300 DKK and 10,000 DKK.

  • Payments for betting, hotel, boat, and car rentals, as well as cash withdrawals cannot be split, and the same applies to bank transfers.

  • Pay Later can be used for a transaction up to 30 days after you have made it.

What does Pay Later cost?

  • How much it costs to use Pay Later depends on how long it takes to pay the full amount and the size of the amount. APR will correspond to approximately 22%.

  • When you request to defer or split a payment, we calculate the specific payment and plan.

    • Here, we calculate exactly what it will cost you to defer or split the payment. You can see this in the overview that we show you before you complete it.

Can I settle my Pay Later agreement before the payment deadline?

  • You can always deposit or settle your deferred payment free of charge. We also tell you how much you can save by doing so. Here's how:

    1. Open your Lunar app and select the Discover tab in the menu at the bottom of the screen.

    2. Find Pay Later.

    3. Select the payment you want to deposit or settle.

    4. Press Deposit to deposit a portion of the outstanding amount. Press Settle to pay the entire amount. Then follow the instructions in the app to complete.

General about Pay Later

  • When you apply to be approved to use Pay Later, we make an overall assessment of your finances and look at a combination of your disposable income and debt factor. It is not allowed to be in RKI.

  • You will receive a response to your application within 24 hours as a rule - it may sometimes take longer due to demand. The response to your application will appear under "Pay Later".

  • As soon as you have agreed to split, you cannot change the agreement from, for example, 3 to 6 months of repayment.

Why have I been rejected?

  • You may have been rejected because we unfortunately cannot accommodate your application for Pay Later at this time. If your financial situation changes, you are welcome to apply again.

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