Is Buy Now Pay Later WORSE Than A Credit Card?! 👀 #BNPL

Credit: @TheMoneyCEO just dropped a GEM 💎. Follow him for more short-form financial content!

BNPL plans typically follow a pay-in-four model: your total purchase, divided by four, with each payment due two weeks apart. Buy Now Pay Later should be an option you really think twice about and consider before engaging. It sounds nice but definitely has some pros and cons.


📍 4 Cons
1. Long Repayment Terms
2. Ease of Overspending
3. Unexpected Fees
4. Tricky Returns

There are a few Buy Now Pay Later Apps
1. Afterpay
2. Affirm
3. Klarna
4. Paypal Pay
5. Sezzle

#bnpl

[wholesomefinancials]

What do you think about the Buy Now Pay Later method?

[parabina]

For small purchase its good. It gives you more investing options. Cash in hand is better of use in other investment.

[BasicDefense]

I use it for firearms, silver, and baby stuff like carseats or clothes. Sezzle, Klarna and afterpay are pretty cool if you're on top of it.

[vannessaspence]

😮! People like throwing that word "broke" like it's a tennis ball! How are you broke if your able to stretch your cash flow? You need some kind of income coming in to use these financial tools anyway, If you don't like bnpls because YOU couldn't handle the responsibility, cool!!! When it comes to the rest of us who wants to try this tool, back off with tie negative talk! Education is the key and there's a lot of financial tools to compliment your income. Choose what's best for your pockets and go about your business!❤❤!!

[notasovietspy]

As Long as you're safe about it, it's fine. Like buying a phone you're gonna use for 2 years but you don't have the money for it currently is a good example. As Long as you don't impulsively buy stuff and make sure the interest rates aren't high asf it's completely safe to use and good.

[hollowtips]

Proceeds to say nothing of importance 😐

[neddiego]

Buy now pay later,
More like, _Buy now BROKE Later_

[thumb]

It all depends on interest rates, how much the total cost increase is, and how much debt you are already in/if you can pay it off earlier by using payment plans.

It’s a little more complex than “buy now pay later bad, BNPL bad, BNPL scam, BNPL is worse than a credit card”.
This guy said a whole lot but told us nothing objectively. Almost every financial decision has a time when it is a positive choice. If you have the right credit card and use it responsibly then you can build credit and maybe even save some money. CC companies are only as successful as they are because people spend irresponsibly.

[BH_Furni]

paypal buy now pay later is INTREST FREE

[slimcutti]

It work's if you work it correctly. So it's definitely worth it.

[javontedonuts]

I honestly had water pump go out and needed tires $800 split in 4 with zip saved my wallet alot

[Bucks]

Yes, the advice is actually true. I watched a review on zip app. The content creator said he pays a $4 fee on every payment. Which sounds like paying with interest. Vs just using a regular credit card like capital one and pay the normal amount in $25 monthly payments. You only pay extra if you fail to make that $25 monthly payment. Yes, the reality is it's actually a scam. Also that myth that credit cards is bad. It's only bad if you fail to pay back $25 every month. I don't understand how people can't do that.

[HSxXITED]

What are you talking about corn ball it works out great for us brokies 😂😂

[GTSongwriter]

This video only tells me your opinion and not why.

[GEMININCAPRICORN]

This is all lie u looking at someone who credits in a 4 now im st 6 something and still going

[its_absol]

i think it depends on what you’re buying