buy now, pay later

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'Rent Now, Pay Later' Sounds Great, but There's a Caveat

Experts warn that fees, high interest rates may ultimately cause struggling users more trouble

(Newser) - Rent can eat up a whole paycheck at the start of the month, so more renters are turning to a financial product that promises relief by letting them split the bill up, though for a price. "Rent now, pay later" services have emerged over the past few years as...

FICO to Expose 'Phantom Debt' With New Score

'Buy now, pay later' loans will soon affect consumers' credit scores

(Newser) - Hundreds of millions of "buy now, pay later" loans will soon affect credit scores for millions of Americans who use the loans to buy clothing, furniture, concert tickets, and even takeout. On Monday, scoring company FICO said it's rolling out a new model that factors these short-term loans...

'Buy Now, Pay Later': Welcome to the Era of 'Phantom Debt'

Warnings are increasingly being issued about companies like Affirm, Afterpay

(Newser) - "Buy now, pay later" is becoming an increasingly popular way for Americans to shop—the stock for one company offering payment plans on purchases, Affirm, quintupled in 2023, reports CNBC —and warnings are increasingly being issued about what that could mean for consumers. The New York Times cites...

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