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Wisetack FAQs

How much does it cost me?

If approved, Wisetack’s standard rate only costs you 3.9% per transaction. No set-up fee, or credit card processing on top of Wisetack’s fee, or any additional fees. 

If you’d like to offer your customers 0% APR options up to 6, 12 or 24 months*, you may choose to enroll in one of Wisetack’s extended 0% APR plans with a higher rate. Learn more about the pricing of those plans and how to offer them here. 

How much does it cost my clients?

Wisetack offers easy, transparent financing options. Financing through Wisetack has no prepayment penalties, origination fees, late fees, or compounding interest. Your client’s financing offer clearly shows the total amount they’ll pay for each option, including interest.  

All financing is subject to credit approval. Customer terms may vary. Payment options through Wisetack are provided by our lending partners. For example, a $1,200 purchase could cost $104.89 a month for 12 months, based on an 8.9% APR, or $400 a month for 3 months, based on a 0% APR. Offers range from 0-35.9% APR based on creditworthiness. State interest rate caps may apply. No other financing charges or participation fees. See additional terms at https://www.wisetack.com/faqs. 

How do my clients get approved for financing?

When you send a quote, your client will see an “as low as” monthly calculation beside the total cost of the job. If they wish to pay via financing, they apply with Wisetack through a short application. They'll receive an instant response from Wisetack if they're eligible. 

How many months can they choose to pay over?

Once approved, they can choose to pay over 3 to 120 months*. 

When do I get paid out for the job?

Wisetack Standard Terms:

  • After you’ve finished the job, you get paid in full and the funds arrive in your bank account 1 to 3 business days after the work is completed. 

Wisetack Progress Payments:

  • Progress Payments allows you to be paid an up-front deposit up to 50% of the total amount with the remaining balance paid upon completion of the job. The funds arrive in your bank account 1 to 3 business days after they are released by the customer.

  • The Progress Payments feature is subject to approval. Learn more about what’s required and how to apply for this feature here.  

Can my client apply for financing after the quote has been approved?

Yes! When they view the approved quote, they will still have the option to apply for financing. 

Can I turn off the integration?

Once you are connected to Wisetack, financing will be made available to all customers and cannot be turned off for individual estimates. If you wish to disable the integration altogether, please contact the Wisetack Support Team.

Can I offer my customers 0% APR options?

All standard plans offered on the Wisetack platform include a 3-month 0% APR* option for qualifying customers. When a customer chooses this option, you pay the 3.9% standard fixed transaction fee. 

You also have the option to enroll in one of Wisetack's 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. Learn more about Wisetack's 0% APR offerings here. 

What rate do I pay if my customers don’t qualify for or choose a 6, 12, or 24 month 0% APR option?

The rate you, the merchant, pays is 3.9%. You only pay a higher fee when your customer chooses a 0% APR option for 6, 12, or 24 months.* 

Can I trial a 0% APR add-on for a period of time?

Yes, you can trial a 0% APR add-on for any period of time. To un-enroll from an add-on, simply reach out to support@wisetack.com.

Why didn’t my customer see a 0% APR option?

Not all customers will qualify for a 0% APR option when applying. Rest assured though that the lenders on the Wisetack platform take into consideration a variety of factors to give your customers the best chance of approval and the best possible rate. 

What credit score is needed to qualify for a 0% APR option?

Lenders on the Wisetack platform approve customers with a wide range of credit profiles. Factors like FICO score and debt-to-income ratio are considered. 

Currently, lenders on the Wisetack platform approve 74% of applicants. One way they keep approvals and conversions (customers who choose to move forward with financing) high is by offering customers up to 8 options so they can choose what works best for their budget. 

We strongly recommend encouraging customers to start the application to check their options rather than trying to gauge their credit profile first. There is no credit impact for customers to check their options. 

What percentage of approved customers will see a 0% APR option?

Lenders on the Wisetack platform approve around 74% of all applicants; roughly half of those applicants will see a 0% APR  option in the application.