Overview

All Wisetack plans include a 3-month 0% APR* option for qualifying customers. When a customer chooses this option, you pay your standard fixed transaction fee.

You also have the option to enroll in one of our extended 0% APR add-ons, which allows you to offer qualified customers interest-free options for up to 6 months, 12 months, or 24 months.* When you decide to enroll in one of these add-ons, your transaction fee will vary based on the financing option your customer chooses.

While a 3-month 0% APR financing option is automatically included in Wisetack’s offering, you can opt to enroll in one of three additional extended 0% APR plans:

Up to 6 months: 0% APR for 3 and 6 months (4.9% fee)
Up to 12 months: 0% APR for 3, 6, and 12 months (6.9% fee)
Up to 24 months: 0% APR for 3, 6, 12, and 24 months (9.9% fee)

Remember, you only pay the higher fee when a customer qualifies for and selects that option. Otherwise, you pay the standard 3.9% fee.

How to enroll

If you send financing applications through Housecall Pro, you can update your 0% APR add-ons directly inside Housecall Pro by following the instructions below:

Head to the Consumer financing tab in My Money
Navigate to the Manage options button on the top right
Select your plan and hit Save

If you send financing applications through Contractor Accelerator, you can update your 0% APR add-ons directly inside Contractor Accelerator by following the instructions below:

Navigate to Company profile → Integrations → Wisetack.
Then, click Settings, select your desired plan, and hit Save

If you send financing applications through the Wisetack merchant portal, follow the steps below.

You can manage your 0% APR add-on plan directly in the merchant portal. (Note: this feature is only available to Super Admin and Admin roles).

Log in to the merchant portal. From the drop down menu on the top right, select Account settings
Once in Account settings, head to Merchant information. There, you’ll see the 0% APR options. Select ‘Update’ to manage your plan.
The "0% APR add-on options" window will appear where you can select the add-on plan that you'd like to offer. You can un-enroll and revert back to the standard plan at any time.
After selecting your preferred add-on, select CONFIRM PRICING PLAN. (If ‘CONFIRM PRICING PLAN’ is not clicked, the add-on plan won't be changed).

Once you change your plan the changes will immediately be reflected in your merchant portal account.

Now what?

When you're enrolled in a 0% APR add-on, nothing will change in your day-to-day.

If your customer qualifies, a 0% APR financing option from your selected add-on plan will simply appear among the financing options they will see in an application.

Your merchant fee will change based on the 0% option your customer picks.

For example, if you choose to offer 0% APR for up to 12 months, qualified customers will see 3, 6, and 12 month 0% APR options. All options above 12 months would be interest-bearing.

How to unenroll in the merchant portal

You may trial a 0% APR add-on plan and unenroll anytime.

Log in to the merchant portal. From the drop down menu on the top right, select Account settings
Once in Account settings, head to Merchant information. There, you’ll see the 0% APR options. Select ‘Update’ to manage your plan.
In the "0% APR add-on options" window, select the “Up to 3 mo” option and click CONFIRM PRICING PLAN.
This will remove the extended term 0% APR add-ons while still allowing you to present 0% APR offers with term lengths of 3 months at the standard merchant fee rate of 3.9%.

Customer qualifications for 0% APR options

We look at a variety of factors when determining eligibility such as credit score, loan amount, income etc.

If a homeowner is qualified for 0% APR options, they will see options up to the longest term that you have chosen to offer.

If a homeowner is not qualified for 0% APR options but is approved for consumer financing, they will continue to only see interest-bearing options.

When enrolling in 0% options, this does not guarantee your customer will qualify for a 0% option. Therefore, it is recommended to not promise any specific pricing to your customers.

0% APR Example Scenarios

Your business has selected to offer the Up to 24 Months 0% APR add-on tier:

Customers may be presented with 0% APR offers with term lengths of 3, 6, 12, or 24 months, in addition to other interest-bearing offers.

If a customer selects the 0% APR offer with the 6-month term, then a 4.9% merchant fee will be charged.

If a customer selects the 0% APR option with the 24-month term, then a 9.9% merchant fee will be charged.

When a homeowner is approved for a 0% offer:

If you have chosen to offer up to 24 months at 0% APR, the homeowner will see 3-, 6-, 12-, and 24-month 0% APR options. All term lengths above the 24-month option will be interest-bearing options.
If you have chosen to offer up to 12 months at 0% APR, they will see 3-, 6-, and 12-month 0% options. All term lengths above the 12-month option will be interest-bearing options.

When a homeowner is not approved for a 0% offer but is approved for interest-bearing:

They will see all options (3-, 6-, 12-, and 24-month), along with the rates they qualify for.

When a homeowner is not approved for 0% or interest-bearing options:

They will not be able to utilize Wisetack to pay for the job.

Can I turn off extended 0% APR terms for specific consumers or adjust these options based on job size?

The 0% APR plans can not be adjusted for specific customers or job sizes.

Because Wisetack operates in a regulated space, we are required to follow the guidelines of the Equal Credit Opportunity Act. This law mandates that any business offering credit cannot discriminate; everyone must have the opportunity to apply for financing

Here are a few things to consider:

Offering extended 0% APR options can help you capture more opportunities that may otherwise be lost.
Although everyone must be allowed to apply for the same financing options, not every applicant will qualify for the 0% financing option.
You will only be charged the higher fee associated with your extended 0% APR plan if your customer qualifies and selects that offer. If they choose an interest-bearing option or a 3 month 0% plan, your fee will be 3.9%.

*All financing is subject to credit approval. Your terms may vary. Payment options through Wisetack are provided by our lending partners. For example, a $5,500 purchase could cost $253.54 per month for 24 months, based on a 9.9% APR, or $1,833.33 per month for 3 months, based on a 0% APR. Offers range from 0 to 35.9% APR based on amount requested and creditworthiness. Not all merchants and lending partners participate in 0% interest programs. State interest rate caps may apply. No prepaid finance charges or participation fees. See additional terms at wisetack.com/faqs

Terms range from 3 - 120 months. Not all merchants and lenders offer extended term lengths of 84 and 120 months.