When Buy Now, Pay Later Can Mean You’re Paying a Whole Lot More Later
Summary
We’ve all encountered this newish feature of online shopping that can sometimes seem too good to be true. You need to make a major purchase costing a few hundred dollars—an amount most of us will definitely feel. But you need the item. Then, up pops a screen offering to break the purchase into six or eight manageable—and interest-free!—payments. How great is this, you think. Sometimes, and for some consumers, this can be great. But for others, it’s yet another new, tech-enabled financial trap. In October, the lending site Lending Tree released its annual report about the use of these…
Description from New Republic.
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When Buy Now, Pay Later Can Mean You’re Paying a Whole Lot More Later
We’ve all encountered this newish feature of online shopping that can sometimes seem too good to be true. You need to make a major purchase costing a few hundred dollars—an amount most of us will definitely feel. But you need the item. Then, up pops a screen offering to break...
