Using shop now, pay later sites allows you to pay in small installments but get your item right away. This gives you the opportunity to buy things you enjoy, while budgeting when you pay.
Never buy what you can’t afford. But if you’re on top of your budget and want more flexibility, try these out!
#1: Klarna
Klarna offers a “Pay in 4” option that allows you to make payments with no interest. But pay on time, because there’s a late fee if you don’t! A downside: on-time payments aren’t reported to credit agencies, so Klarna doesn't help build credit.
#2: Affirm
Affirm’s platform is a little different. You don’t need a high credit score – but some payment installments do come with interest charges. Also, you have more control over how much you pay each month.
#3: Afterpay
Afterpay is another popular program because there are no interest charges or fees if you pay on time. But if you’re late, the fees can be really expensive – ONLY purchase items you can afford!
#4: QuadPay
QuadPay is one of the few payment plans that can be made inside a store. The service doesn’t charge interest – but for every payment, there's a $1 convenience fee. QuadPay also doesn't count as a hard inquiry on your credit, so using the service won't negatively affect your credit score.