What You Need To Know About Stoneberry Credit

A line of credit to use with a handful of online stores

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Buy now, pay later (BNPL) programs have gained significant traction over the last few years. In September 2020, various BNPL services saw an increase of 186% in monthly active users, according to Sensor Tower Store Intelligence, a mobile app data analysis firm.

Stoneberry offers a BNPL program to its customers, but it functions differently than alternatives like PayPal Pay in 4 and Affirm. Instead of offering a BNPL service for a long list of online retailers, Stoneberry Credit only works with the retailer's own online brands. 

How Does Stoneberry Credit Work?

Stoneberry Credit is available for customers shopping online with Stoneberry or one of its brands, which include Masseys, Mason Easy-Pay, K. Jordan, and Fifth & Glam. Before you start shopping, you'll fill out a prequalification form. If you're approved, you'll add the items you want to your cart and complete your order. 

Stoneberry Credit boasts a minimum monthly payment starting at $5.99, depending on your order size. You'll make monthly payments until you've paid off your purchase. Just like a credit card, if you fail to pay off your account’s new balance within 25 days of the statement date, Stoneberry Credit will add a finance charge of up to 23.99%, based on where you live.

You can make your payments via a credit card, debit card, or personal check.

Is There a Minimum Purchase Size When Using Stoneberry Credit?

Stoneberry Credit doesn't have a minimum purchase size. If you're approved for a line of credit, you can use it to purchase any item through Stoneberry or one of its other brands.

Is There a Maximum Purchase Size When Using Stoneberry Credit?

Stoneberry also doesn't list a maximum purchase amount, though new customers may be limited to a credit line of $1,000 when they first apply. If your order exceeds your approved amount, you may be required to make a down payment, which you can pay online or via mail with a paper check.

Do Products Bought With Stoneberry Credit Ship After My First Payment?

Yes. According to the retailer, most items ship within 24 hours after your credit has been approved and your order has been processed (unless the item is on back-order). Customers can opt for standard delivery, which takes five to seven business days, or priority shipping, which takes three to five business days. 

Can I Use Stoneberry Credit To Pay Bills?

No. Stoneberry Credit is only available for purchases made with the retailer and its other brands. You can't use the service to buy products from other retailers or to pay your monthly bills, like rent and utilities.

Does Stoneberry Credit Have a Credit Limit?

Yes. When you first apply for Stoneberry Credit, you can qualify for a line of credit of up to $1,000. Over time, you may qualify for credit line increases, which increase your spending power with the retailer.

You'll be able to see your credit limit by logging into your online account. You'll also be able to find it in your preapproved catalog, which includes a credit insert.

How Can I Increase My Credit Limit?

You may be eligible for a credit limit increase up to two times per year. Stoneberry makes the decision based on your payment history and other factors.

Does Stoneberry Credit Affect My Credit Score?

Using Stoneberry Credit can impact your credit score when you first apply for a credit line or if you miss a payment. It's important to consider the potential damage that can be done if you can't meet your payment obligations.

Does Stoneberry Check My Credit?

Stoneberry Credit's prequalification process includes just a soft credit check, so it won't impact your credit score. However, after you make your first order with the retailer or one of its brands, your new account is subject to final credit approval. Stoneberry will perform a hard credit check to determine if you qualify for the line of credit.

Does Stoneberry Report My Activity to Credit Bureaus?

Stoneberry doesn't report your monthly payments to the credit bureaus, but it does report to the bureaus if you fail to meet your credit obligations.

What Credit Score Do I Need To Use Stoneberry Credit?

Stoneberry doesn't list a minimum credit score requirement to qualify for a line of credit. If your credit is in poor shape, you may be denied credit, offered a reduced credit line, or required to make a down payment.

Does Stoneberry Credit Charge Interest?

Stoneberry Credit charges interest if you don't pay the new balance in full within 25 days of the statement date—this arrangement is similar to a credit card. Your annual percentage rate (APR) depends on where you live and, in some states and territories, the amount of your order:

States APR
Ala. 21% up to $750, 18% over $750
Ark.  17%
Puerto Rico 20.4%
Colo., Ga., Ind., Miss., Okla, Tenn., Vt., Wyo. 21%
Fla., La., Mass., Maine, Minn., N.C., Ohio, U.S. Virgin Islands 18%
Guam, Neb. 21% up to $500, 18% over $500 
Texas  18% up to $3,150, 12% over $3,150 
W. Va. 18% up to $750, 12% over $750 
All other states and U.S. territories 23.99% 

To compare, the average credit card interest rate is 20.29%, according to data collected by The Balance. The average interest rate on a two-year personal loan is 9.46%, according to the Federal Reserve. 

Stoneberry Credit allows you to make additional payments to reduce your balance. While this won't reduce future payment amounts, it can help you pay off the debt early.

Does Stoneberry Credit Charge Fees?

Stoneberry Credit boasts no annual membership fees or over-limit fees. But you will be charged a fee if you're late in making a payment or if your payment is returned because of an overdraft.

Late fees can vary depending on where you live, but the maximum is $15 per late or missed payment. The overdraft charge can range from $15 to $25, depending on the state or U.S. territory you live in. 

Is Stoneberry Credit Safe?

Stoneberry Credit is safe in terms of data security. There's only one hard credit check when you first apply for a line of credit, and you're only using your credit with Stoneberry's family of brands. Therefore, there's no concern about dealing with third parties, like there can be with traditional BNPL services.

However, it's easy to get in trouble if you use your credit line to spend more than you can afford to pay back. Missing a payment can result in late fees, and Stoneberry may also report late payments to the credit bureaus, which can damage your credit score significantly. 

One plus is that compared to most BNPL plans, Stoneberry Credit only offers one credit line, which you use for all of your purchases. This means that you'll only have one monthly payment to keep track of instead of multiple payments for different purchases.

What Retailers Accept Stoneberry Credit?

You can use Stoneberry Credit to shop more than 60,000 products from Stoneberry, Masseys, Mason Easy-Pay, K. Jordan, and Fifth & Glam.

How To Use Stoneberry Credit Online

When you first apply for a line of credit, you'll go through the prequalification process, and then do your shopping as usual. When you check out, Stoneberry will run a hard credit check to determine whether you qualify for a line of credit. 

Once you've qualified for that credit line, though, you can use it over and over again to make purchases with the retailer and its other brands, as long as you have available credit on your account.

How To Use Stoneberry Credit In Stores

Stoneberry is an online-only retailer and doesn't allow you to use your line of credit to make in-store purchases with other retailers.

How Do Returns Work When Using Stoneberry Credit?

If you need to return an item you've purchased using Stoneberry Credit, the amount of the refund will be deducted from your line of credit balance. Depending on how you send the return, it can take up to 10 business days for the retailer to receive the package, then another seven to 12 business days before the refund is processed.

How Do I Pay Stoneberry Credit?

Stoneberry Credit allows you to make your payments with a credit card, debit card, or personal check. You can make your payment online, by calling customer service, or by sending it in the mail.

The amount of your minimum payment will depend on your credit line balance, which means your minimum payment can decrease over time:

Balances Less Than Minimum Payment
$5.99 100% of the balance
$50  $5.99
$75 $7.99
$100  $9.99
$150  $14.99 
$200  $19.99
$250  $24.99
$300  $27.99 
$350  $28.99 
$450  $29.99 
$600  $33.99 
$800  $46.99 
$1,100  $59.99
$1,300  $69.99 
Over $1,300  5% of the balance 

What Happens If I Don’t Pay Stoneberry Credit?

If you don't make your minimum monthly payment by the statement due date, your account will be subject to a late fee. If you continue to miss payments, Stoneberry may report negative information to the credit bureaus, which can impact your credit score.

As such, if you're planning on using Stoneberry Credit to shop with the retailer or one of its brands, it's crucial that you meet your payment obligations to avoid costly charges and credit score damage.