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Buy now, pay later popularity

KAL-EL

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I thought it was just here in the US, but it appears these "buy now pay later" apps are gaining more and more popularity throughout the world where they are allowed to do business.

Was just wondering if anyone here has ever used one of these types of online bizes?

To be specific, I'm referring to the ones that let you stretch out four payments in 6 weeks.
 
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Bajwa is still waiting for his IMF tranche...
 
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I thought it was just here in the US, but it appears these "buy now pay later" apps are gaining more and more popularity throughout the world where they are allowed to do business.

Was just wondering if anyone here has ever used one of these types of online bizes?

To be specific, I'm referring to the ones that let you stretch out four payments in 6 weeks.
Never used credit apart from a loan from family members, these things are designed to trap the user into a debt cycle.
 
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Never used credit apart from a loan from family members, these things are designed to trap the user into a debt cycle.

Totally agree with you about the debt cycle.

I have a couple of credit cards that I will only use in case of emergency or something close.

I decided to use one of the BNPLs because I was curious, and it only pulled a "soft" credit pull so no damage to my score.

I liked that it took out the exact divided amount every two weeks which carried me over until the next month when I got paid to finally payoff the last amount.

I realize to some here this must seem like a way out there subject to randomly bring up.

After watching a few YouTube videos about the business side of it, I was genuinely curious
 
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I thought it was just here in the US, but it appears these "buy now pay later" apps are gaining more and more popularity throughout the world where they are allowed to do business.

Was just wondering if anyone here has ever used one of these types of online bizes?

To be specific, I'm referring to the ones that let you stretch out four payments in 6 weeks.

Yes, available in India. Online outlets - Amazon, Flipkart etc provide such payment options if you good CIBIL record.
 
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I thought it was just here in the US, but it appears these "buy now pay later" apps are gaining more and more popularity throughout the world where they are allowed to do business.

Was just wondering if anyone here has ever used one of these types of online bizes?

To be specific, I'm referring to the ones that let you stretch out four payments in 6 weeks.
with the time that are comming now buy now pay later will be more common.

its just a debt trap basically, buying something you cant afford.

Totally agree with you about the debt cycle.

I have a couple of credit cards that I will only use in case of emergency or something close.

I decided to use one of the BNPLs because I was curious, and it only pulled a "soft" credit pull so no damage to my score.

I liked that it took out the exact divided amount every two weeks which carried me over until the next month when I got paid to finally payoff the last amount.

I realize to some here this must seem like a way out there subject to randomly bring up.

After watching a few YouTube videos about the business side of it, I was genuinely curious
i only exclusively use a credit card at all times and cash when i have to.
this is simply because you get additional protection against your purchases e.g. online shopping or tickets for travel/events.
 
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I can buy things what I need directly, so haven't used that possibility, many shops do offer interest free pay in chunks options for their customers. Klarna is probably biggest non-shop option but what i've seen people prefer use shops own plans.

Credit card is still most common way to pay stuff in chunks.
 
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I can buy things what I need directly, so haven't used that possibility, many shops do offer interest free pay in chunks options for their customers. Klarna is probably biggest non-shop option but what i've seen people prefer use shops own plans.

Credit card is still most common way to pay stuff in chunks.

I've actually heard of Klarna. That's one of the big ones.

I use one called zip (formally called quad pay)

I've only used it once while buying a bunch of CDs on eBay. The process went very smoothly.

I agree with you that a credit card is still the better way to pay for things in chunks.

I probably won't be using BNPL that much, but it was interesting to try.

And I find that for some people, it fits because it is a good budgeting tool
 
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