The Brian Lehrer Show Your 'Buy Now, Pay Later' Experiences
Jun 30, 2025
Imani Moise, a personal economics reporter at The Wall Street Journal, dives into the surging trend of 'Buy Now, Pay Later' (BNPL) services. She discusses how BNPL plans are reshaping consumer finance, especially among younger shoppers. Listeners call in to share their experiences with these services, revealing both benefits like zero interest and risks such as impacts on credit scores. Imani also highlights demographic shifts as older consumers increasingly turn to BNPL, reflecting a significant change in shopping habits post-pandemic.
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BNPL Loans Impact Credit Scores
- Buy Now, Pay Later (BNPL) loans are a growing debt factor soon included in credit scores by FICO.
- This inclusion allows BNPL loans to either improve or damage your credit score based on payment history.
How BNPL Loans Work
- BNPL loans are mostly offered online at checkout and split payments over several weeks.
- Companies like Affirm, Klarna, and PayPal commonly provide these installment plans.
BNPL Use Extends Beyond Discretionary
- BNPL plans are mostly used for discretionary purchases like apparel and electronics.
- However, they are increasingly accepted for essentials such as groceries and gas.