Katapult Review: Higher Purchasing Power Comes With a Cost
- Max. Amount
- $3,500
- Turnaround time
- Within minutes
Our verdict
Katapult’s lease-to-own app has generous spending limits, but long-term payment plans may be pricey.
Katapult is a lease-to-own service that allows you to spend up to $3,500 at hundreds of retailers, such as Best Buy, Walmart, Wayfair and Sears. It’s similar to a buy now, pay later (BNPL) app, except you’re only leasing the item — unless you decide to purchase it. It has a number of different payment plans, but you’ll save the most if you pay in full within 90 days. There’s only a 5% finance fee for the 90-day plan, but Katapult doesn’t disclose the fees for long-term leases. Also, the nature of the leasing model means not all consumer goods are eligible for lease-purchase.
Best for: Purchasing durable goods such as furniture, electronics and appliances.
Pros
-
Spending limits up to $3,500
-
Accepts poor credit
-
Flexible payment plans
Cons
-
Charges a 5% finance fee
-
Not transparent about long-term rates
-
Limited shopping options compared to BNPL apps
Is Katapult legit?
Yes, Katapult is a legit, publicly traded (NASDAQ: KPLT) fintech company. It was founded in 2012 and is based in Plano, Texas. It specializes in connecting retailers with underserved consumers who may not qualify for traditional financing.
Katapult works to ensure the safety of your data by using standard security measures and only working with reputable third-party businesses. You can learn more by viewing its privacy and security policies on its website.
What makes Katapult shine?
Katapult stands out by offering lease-to-own purchasing options to borrowers who may not qualify for more traditional forms of funding. There’s no hard credit check to qualify, and no established credit history is required, so even borrowers with poor or no credit may be eligible.
Its most affordable option offers a 90-day lease-purchase plan, and the fee is only 5% of the purchase price. For example, if you buy something for $1,000, the fee is only $50. If you need more time, you can extend your payment plan up to 18 months, depending on how much you spend.
It also offers a generous spending limit up to $3,500, although not all borrowers will qualify for the highest amount.
Where Katapult falls short
Katapult could be more transparent about its long-term payment plans. You won’t find the fees for any plan longer than 90 days on its website. It only states that if you don’t pay the full amount within 90 days, you can continue making payments for up to 18 months. Customer reviews say you could end up paying double the price of the item with a long-term plan.
The app also has more limitations on what you can buy than most BNPL apps. Katapult only allows you to purchase durable consumer goods that can be returned, such as electronics, furniture and appliances. For example, you can’t use it to purchase concert tickets, clothing, food or other consumable products or services.
It also doesn’t give you access to cash, although that’s a standard restriction for these kinds of apps. If you need some money to make ends meet between pay periods — like for gas money to get to work — a cash advance app might make more sense. There’s no interest or credit checks, and they’re available to practically anyone with a job and a bank account.
Katapult app details
| Product name | Katapult |
| Min amount | Not stated |
| Max amount | $3,500 |
| Loan term | Up to 18 months |
| Turnaround time | Within minutes |
| Costs |
|
| Requirements |
|
Katapult contact info
| Phone number | 833-528-2785 |
| Customer service hours | Weekdays: 7 a.m. to 11 p.m. CT Saturday: 8 a.m. to 9 p.m. CT Sunday: 10 a.m. to 8 p.m. CT |
| help@katapult.com | |
| X, formerly Twitter | @katapultpay |
| Get Katapult |
How to qualify for Katapult
Here’s the information you’ll need to provide to qualify for Katapult’s lease-to-own financing:
- Credit or debit card in purchaser’s name
- Current US address (no commercial addresses or PO boxes accepted)
- Cell phone number that accepts SMS texting
- Valid Social Security number or taxpayer ID number (ITIN)
- Valid email address
- Valid photo ID proving you’re at least 18 years old
Katapult reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.13 out of 5 stars, based on 107 customer reviews |
| BBB customer complaints | 55 customer complaints |
| Trustpilot Score | 4.4 out of 5 stars, based on 27,290 customer reviews |
| App Store Score | 4.8 out of 5 stars, based on 20,500 customer reviews |
| Google Play Score | 4.5 out of 5 stars, based on 6,570 customer reviews |
| Customer reviews verified as of | 23 July 2025 |
Katapult has mostly negative reviews on the Better Business Bureau (BBB), although a couple of people said it’s a good option for those with bad credit who need a payment plan. Complaints were mostly about financial issues, including trouble getting refunds, extra or unauthorized payments and being charged even when the transaction was denied.
The company has more positive reviews on Trustpilot, with customers saying it’s easy to sign up and approval is quick. But others report problems with the app, high fees if you don’t pay within 90 days and being charged full price on incomplete orders.
Customers on Google Play and the App store share similar Katapult reviews and complaints as you’ll find on Trustpilot.
What do people on Reddit say?
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