What is my credit limit and how much can I spend with PayLater?

At PayLater, we follow a structured and responsible approach to determine a shopper's credit limit, ensuring financial security and suitability for our users. While the maximum credit limit available is QAR 25,000, the actual limit assigned to each shopper depends on an evaluation of multiple factors. Here's how we assess eligibility:

1. Shopper’s Age
   Age plays a significant role in determining creditworthiness. Shoppers must meet our minimum age criteria, and those in stable, income-generating age brackets are more likely to qualify for higher limits.
2. QID Expiry Date
   Since the Qatari National ID (QID) serves as an essential proof of identity and residency, its validity directly impacts credit approval. A QID nearing its expiry date may lead to a lower assigned limit until it's renewed, reflecting the shopper's stable residency status.
3. Employment Type
   The nature and stability of a shopper's employment significantly influence their ability to manage credit. For instance:
   • Salaried Employees: Stable monthly income increases eligibility for higher credit limits.
   • Self-Employed or Freelancers: These are assessed based on income patterns and consistency.
   • Other Employment Types: Special considerations are made on a case-by-case basis.
4. Credit Bureau & Risk Check Rules 
   This refers to the process of evaluating a customer’s financial reliability using their Credit Bureau report and internal risk assessment criteria, such as repayment history, active liabilities, and spending behavior to determine their eligibility for credit limits. 

How We Calculate the Credit Limit

The assigned credit limit is based on a weighted scoring system that evaluates key factors like age, QID validity, employment type, and Credit Bureau reports and risk rules check. Each element is carefully reviewed to balance financial flexibility for the shopper with responsible lending. With responsible usage and timely payments, the limit can increase over time.