Updated
Updated · WLS-TV · Aug 15BNPL Loans Spur Late Payments for 47% of Users as Debt Stacks Up
2 articles · Updated · WLS-TV · Aug 15Summary
- A LendingTree study found 47% of buy now, pay later users made at least one late payment in the past year, underscoring rising repayment strain.
- Money Management International said the biggest risk is “loan stacking” — consumers juggling multiple BNPL loans and losing track of what they owe.
- Those installment offers can make large purchases feel affordable by shrinking them into small payments, even as total debt builds quickly.
- The warning’s takeaway: judge whether you can afford the full purchase, not just the installment, and make a repayment plan before borrowing.
Insights
Why do over half of BNPL users falsely believe their on-time payments are actually building their credit scores? Are your interest-free checkout plans secretly trapping you in a debt cycle worse than traditional credit cards?