What to know before you take advantage of your credit card’s buy now, pay later option
Publishing timestamp: 2023-08-29 15:58:29
Summary
The article discusses how credit cards are offering buy now, pay later plans similar to those offered by companies like Affirm, Afterpay, and Klarna. While these credit card plans may have lower interest rates compared to traditional credit cards, experts advise consumers to carefully consider their borrowing options and read the fine print. Other options such as 0% balance transfers, retailer-specific financing programs, and nonprofit credit counseling may be better choices for borrowers with existing debt. It is important to be aware of potential costs and consequences, such as higher credit utilization and deferred interest.
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Keywords: consumerism, consumer spending, business news, american express co, personal income, credit card debt, personal debt, inflation, consumer finance, citi trends inc, personal loans, personal finance, personal spending, interest rates,