BNPL

How A $16 ‘Buy Now, Pay Later’ Debt Blocked A Woman From Getting A Home Loan Despite $100k Savings

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How A ‘Buy Now, Pay Later’ Debt Blocked A Woman From Getting A Home Loan Despite 0k Savings

The popularity of buy-now-pay-later (BNPL) apps is growing rapidly, as are defaults and delinquencies. The slump in job markets and wage growth, alongside the high cost of borrowing due to elevated inflation, have already strained household budgets. Easier access to credit and flexible repayment options also lure younger generations to tap into loans even when … Read more

Chase Credit Card To Ban ‘Buy Now, Pay Later’ Schemes Starting Oct. 10 – Here’s Why

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Chase Credit Card To Ban ‘Buy Now, Pay Later’ Schemes Starting Oct. 10 – Here’s Why

JPMorgan Chase will restrict customers from using its credit cards to fund controversial “buy now, pay later” loans. Starting October 10, the US-based Investment banking company will decline credit card payments for instalment plans offered by companies like Klarna, Affirm, and AfterPay. Chase has been notifying customers about the impending change and advising them to … Read more