Buy Now Pay Later: Are These Interest-Free Loans Worth It?

Buy now, pay later loans (AKA: Affirm, Klarna, Afterpay, Zip) can be a convenient way to break up an expensive purchase into more manageable payments. These offers can be useful in a pinch, such as if you need to buy…

Buy Now Pay Later: Are These Interest-Free Loans Worth It?

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Buy now, pay later loans (AKA: Affirm, Klarna, Afterpay, Zip) can be a convenient way to break up an expensive purchase into more manageable payments. These offers can be useful in a pinch, such as if you need to buy a big ticket holiday gift on short notice and don’t want to put it on a credit card. Our personal loans expert, Annie Millerbernd sat down with us to break down (in installments) what to be aware of with BNPL loan options.

0:00 Intro
0:15 Next steps if you select Buy Now, Pay Later
0:59 How BNPL companies work
1:31 When you should use BNPL
2:36 Overdraft fees, late fees, and other cons
3:39 Final thoughts

Want to research now, before you shop later? Our version of installments look a whole lot like articles that break down everything you need to know about Buy Now Pay Later loans:

Smart Money Podcast: Buy Now, Pay Later Loans and How to Start Building Wealth: https://www.nerdwallet.com/article/finance/smart-money-podcast-buy-now-pay-later-loans-and-how-to-start-building-wealth
What Is Buy Now, Pay Later?: https://www.nerdwallet.com/article/loans/personal-loans/buy-now-pay-later
Klarna Review 2021: Should You Buy Now, Pay Later?: https://www.nerdwallet.com/reviews/loans/personal-loans/klarna-personal-loans
Affirm Loans: 2021 Review: https://www.nerdwallet.com/reviews/loans/personal-loans/affirm-personal-loans

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