At its Worldwide Developers Conference earlier this month, Apple announced that it would be offering a Buy Now, Pay Later program as a part of its financial services to customers. This alternative form of payment for goods and services has had a resurgence during the pandemic, and Apple’s announcement has put it in the news.
But what is Buy Now, Pay Later, and should you be making use of it as part of your household finances and budget? In this episode, I will dive deep into this service and advise as to whether it is a good idea for you.
In this episode you will learn:
- What Buy Now, Pay Later Is
- Its Pros and Cons
- How it Affects Your Credit
- Whether You Should Use It
Links & Resources
- Buy Now Pay Later (Nerdwallet)
- Pros and Cons of Buy Now, Pay Later Services (FoolProofMe.org)
- Pros and Cons of BNPL (CUInsight.com)
- Buy Now Pay Later Loans Make It Tough to Get a Handle on Your Credit (CNBC)
- Ugly Economics Behind Apple's Buy Now Pay Later System (The Verge)
- Apple's User Data on Overspending (Business Insider)
- Some Medical Debt Will Soon Disappear from Consumer Credit Reports (CNBC)
- Buy Now, Pay Later Providers (Nerdwallet Reviews)
If you enjoyed this episode, you might also like:
- Episode 84: The Case For and Against Credit Cards
- Episode 73: Understanding How Credit and Credit Scores Work
- Episode 65: Why Payday, Car Title, and Pension Loans Are Bad
If you enjoy listening to this podcast, it will put a big smile on my face if you left a review on Apple Podcasts, Podchaser, or wherever you like to listen to podcasts.