3 Dangers of Using 'Buy Now, Pay Later' Plans

·3 min read
3 Dangers of Using 'Buy Now, Pay Later' Plans

One of the reasons so many consumers like using credit cards is that they let you make a purchase today and pay it off when it's convenient. "Buy now, pay later" (BNPL) plans work similarly in that you can spread out your payments for a given purchase over time rather than pay for a purchase up front. A recent survey by The Ascent found that BNPL plans have experienced explosive growth among consumers.

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