We’ve all been in that situation at the electronics or appliance store, or even the grocery store, where you want something but your bank account says “Not today.” But wait, there’s a way to get it — today — with a buy now, pay later (BNPL) loan. Easy payments set up right at checkout. What could possibly go wrong?
Until recently, maybe not a lot. But according to The Wall Street Journal, credit agencies like FICO will begin including these loans for the first time on your credit score. Depending on how often you use BNPL loans and whether you make timely payments could impact your credit and ability to get other, more important loans, such as car loans and mortgages.
