How Afterpay / Clearpay Works
Afterpay (Clearpay in the UK) splits purchases into four equal fortnightly instalments. The first payment is due at checkout; the remaining three are charged automatically every two weeks to your linked card. There is no interest if all payments are made on time.
Late Fees
Missing a payment triggers a late fee — in the UK, Clearpay charges £6 for an overdue instalment (capped at 25% of the order value). In Australia, Afterpay charges AUD 10 per missed payment, capped at AUD 68 or 25% of the order value, whichever is less. The cap limits total exposure, but fees add up quickly if multiple plans are missed.
Credit Reporting
From 2023, Afterpay and Clearpay have begun reporting to credit reference agencies in some markets. Missed payments can affect your credit score and ability to access financing in future. Tracking your open plans is now more important than ever.
Clearpay vs Klarna in the UK
Both Clearpay and Klarna offer interest-free instalment plans, but with different structures. Klarna's Pay in 3 charges payments roughly every 30 days; Clearpay charges fortnightly. Both now report to Experian and TransUnion under new FCA rules. Use our Klarna tracker to compare your outstanding plans side-by-side.