With cyber shopping season approaching for Christmas there was a report about the buy now pay later options also known as (BNPL) saying how this is very convenient for customers to be able to receive their products before paying in full, but the dark side of these options could cost more money or leave you heavily in debt if you miss a payment.
Reports say if you miss a payment you could pay up to 25% for the fees and take a minimum 30 point on your credit score.
Most of these offered options will give these loans without a credit check and the payments are usually in 4 or 6 leaving you paying every other week where a lot of people fall short that use this service.
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