By Now Pay Later Loans Are the Oldest Financial Technology in the Book

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Banks and credit card companies are trying to fend off this horde of new competitors. At least one bank is refusing to let their credit cards be used for most by now pay later purchases. The way the system is currently set up, a lot of that spending does not get reported to the credit bureau.

A wave of companies that allow customers to pay for items from their favorite stores in four interest-free installments has taken over the country. But is "buy now, pay later" lending too good to be true? | Subscribe to our weekly newsletter here.