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Buy Now, Pay Later Just Became Even More Dangerous - The Dark Side Of BNPL

Frames Buy Now, Pay Later Just Became Even More Dangerous - The Dark Side Of BNPL

Description Buy Now, Pay Later Just Became Even More Dangerous - The Dark Side Of BNPL

Comments Buy Now, Pay Later Just Became Even More Dangerous - The Dark Side Of BNPL

Have you had any experiences using buy now, pay later? Let us know! ⬇ Comment from : Steph & Den

Credit card will rob you blind Comment from : james quiroz

I only use Klarna when it would actually save me moneybrbrI use it to buy only what I was going to buy anyway, That's called Self-Discipline, and I learned it from various Martial Arts and MeditationbrbrI use Klarna to buy in bulk, which ultimately saves me money I wouldn't be able to make those money saving bulk purchases without Klarna Comment from : Freditations

I hate hearing these videos say clothing is not an essential item I work at a nonprofit but I'm still expected to dress professional BNPL is the only way I can afford the clothing I need that I can't necessarily afford all up front but I can budget correctly with BNPL Comment from : Shut Up

I use klarna and sezzleRESPONSIBLYif you're prone to NSFs don't do it This class action lawsuit against sezzle has ruined a good thing for good people and the broke/woke slugs are to blame Comment from : condorC72

It was all good until she brought up the “negative” point of allowing people more access to buy guns🙄…AND??!!! What’s the point with that comment ? What does that matter ? Thumbs down Comment from : M Aguilar

You’re still spending more, my family has went to a cash system and you just spend way less There is no emotional spending when there isn’t enough cash Comment from : Jacob Guthrie

There is a company some of the smaller guys are using Darn tough socks being the company I use with this vendor The vendor “catch” gives basically the credit card fees back you as rewards Cut out the banks, it’s pretty great! Comment from : Jacob Guthrie

It’s only as useful/dangerous as you make it Used correctly good Misused bad But that goes for everything in this world Comment from : THE GREAT

I’ve learned my lesson with Credit cards, I’ve had Afterpay since it came out and I love it! I only use it when I need it I use it more specifically for back to school or emergencies Comment from : vanessa moreno

Now do credit cards Comment from : Khomotso Mogane

I have been using Affirm and it’s been great I turn on auto pay to never miss a payment and I like being able to pay over a long period of time not 4-6 weeks that’s why I do not use the other ones Comment from : Puncho

As long as you're responsible you'll be ok Comment from : MRBOLDEN84

Does Klarna run your credit or leaves an inquiry? Comment from : daisy alicia

I’ve used afterpay for a subway sandwich Comment from : El chepe Cuh

i only use klarna because i dont want to use my card to shop online Comment from : sema ab

I have been searching for a video on how to have "Good standing, never late, paid" affirm accounts removed from my credit report Well I have found 1000 similar vidoes like this one here instead and I HATE it!!! Comment from : Bay Area Rob

I've used Klarna to get REALLY good seats for Tool from Ticketmaster My wife would have a fit if I spent $700 up front in cash or on a credit card bc, even tho we could more than afford it, she doesn't understand the need to see your favorite band when they come around But she won't notice me spending an extra $57 a month for a year 😂 Comment from : Darth Bango

❤❤❤brYou guys explained this very well!! Thanks for the content!💯 Comment from : A Williams

Maybe don't get a loan you can't afford Wtf It's not like a predatory payday advance loan charging 200 interest Comment from : Dimitri

Credova is Horrible its a pick a lender service Comment from : clint Miller

Affirm is great it really allows me to buy things without using a credit card and it's an easy way to make sure you always pay off an item With a credit card we all tend to not pay them off I know it's not ideal but we all do it Comment from : clint Miller

What is the likelihood that an 18 year old buying a bunch of guns is gonna pay back their loan? 😂brbrbrWonder these companies have actuaries working on this kind of stuff Comment from : RC

Apple just put out a $3500 USD pair of AR goggles and have their own BNPL servicebrbrThey are about to enslave a lotta people Comment from : RC

Can you make early payments? Comment from : Sycamore

Wouldn't it be better if you just went to a loan shark? Comment from : GoLakers3900

I cut off my credit cards and using bnpl all about discipline Keep the budget under 20 percent you’ll be fine Comment from : R_1993

Been using Klarna for a while now I mainly use it to purchase large $ items when needed, emergency fund or my favorite Christmas shopping But yes you have to be careful and responsible! Comment from : Michael Garzon - Hablando Seguros De Salud

I use affirm and they have been excellent to me no problems Comment from : Solo Mac

The dangerous part is that people start becoming addicted to shopping Many already are but the addiction worsens The best way to use those BNPL services to not go on a shopping spree and make a payment plan for one thing at a time Buying multiple items (or more) at a time would get you lost, especially if it’s high-ticket goods you’re impulse buying It’s a good thing they have spending limits but it doesn’t mean you can’t use other BNPL apps Comment from : Lollipopcorndog

I use credit cards because they help build my credit for a future mortgage, offer rewards, and most importantly, have great consumer protections brbrBNPL offers none of those benefits Best case, BNPL seems like tool to use future income to buy things for yourself now I'll avoid it Comment from : David Risley

I used BNPL once for my Peleton, broken up over 12 months I finished my payments within 10 months Comment from : An Le

I'm going on a trip I think paying for the $2,000 airline ticket with bnpl is a better option for me Instead of putting on a credit card, which I use for monthly expenses If I add $2k to my card it's compounding interest on top of my average monthly use It seems like I'd pay a lot more in compounding interest on the card over the same period of time of a bnpl loan which is completely separate I always pay my credit card in full But adding $2k and any unexpected emergency use in the future, the bnpl option seems logical to me for this Unless there's something I'm not considering $88 in interest fees over 6 months is nothing It's a service they providing and I think it's worth it I guess people over spending is the problem br For me, this is a one time bnpl transaction and I'll be able to make the payments and probably pay it off early Any thoughts on this? Comment from : SaintZombie1

I used Affirm and Klarna but in a smart way I bought a treadmill though Affirm because they put it on my credit report and I like that Comment from : Linda Lloyd

How is this "the dark side of BNPL" Comment from : Zack

I have a high limit on Klarna but guess what? I’m able to pay it back most times before the payoff is due! I purchase big ticket items and pay them off Not everyone’s situation is the same Comment from : Live in the Middle

I'm using it right now, and I surely did not know the information that I just received through this videobrI have made the habit of paying on my account early even two or three times in a month brI have to chat now and see if my credit score has gone down, because I was between 760 and 800brI appreciate the information and may choose not to use this affirm again once I paid off my three accounts that are open Comment from : DOA ver 21

I use After pay on occasion and I like it I make sure to pay the debt before the due date I think as long as you don’t abuse the service you can enjoy buying items that you would not normally buy if you had to put the full amount on your credit or debit card Comment from : Kelsey T

Imagine putting your firearm on a payment plan 🤣 Comment from : Adam

Why is 18-44 an age group I mean, why those ages 7:23 Comment from : Felicia D

Kindly let me know best gateway for shopify store ? Comment from : Habib Ur Rehman

It is I don’t see why they are making these fake videos like it’s so spooky Lol just like any other credit card or “loan” credit card is a loan And affirm do not charge nothing extra Comment from : Plenway

If you can afford to make payments and have a steady job, you’re Gucci But if you can’t afford it, don’t buy something hoping that you will scrum together the payments Just take accountability Comment from : Jordan Perez

I HAVE AFTER PAY PLUS ❤❤❤❤❤❤❤ Comment from : Jacquelyn Dorinda Chic

I never used it and never will I use a credit card for all of my purchases and pay it off in full at the end of the month I get 2-3 cash back this waybrbrOther than that, no debts No student loans Car is paid off I even bought my phone for full pricebrbrThe borrower is slave to the lender Comment from : RealPolitik2000

Ive been using Zip, I love it! Naver had any problems with it It really depends on the person you know BNPL isnt necessarily bad if you know how to use it financial education is key Comment from : Gamer Recruit

avoid them like the plague Comment from : UNCOVIDVAXX FORTHESTRONGANDBRAVEONLY

I have used two of the apps I haven't encountered a negative situation I've always paid everything off early House Bill 132, which Gov Michelle Lujan Grisham signed on March 1, 2022, Currently, lenders may charge a maximum APR of 175 on loans up to $5,000 made under SLA and BILA But effective January 1, 2023, the maximum APR will fall to just 36 and apply to loans up to $10,000 In calculating the APR, the lender must, with some exceptions so due to this many companies have pulled out of New Mexico for installment loans and yeah just gives us no way to be able to afford anything now that sucks Comment from : Ebony McKenzie

Sweet! I didn’t know a company existed out there that lets me pay later on guns For sure a service I’ll start using Very useful video Thanks! Comment from : Seth Turner

I use afterpay all the time ,and always pay on time no issues and it has been a blessing being a single mother with no help Gratitude 🦋 Comment from : Fatima Braxton

I use Affirm, prefer it to credit cards I normally only buy hard goods that at the time, I may have cash for, but do not want to use those funds for various reasons The key is to use their no interest payment plan, and be able to pay it off within a months time, or sooner I do not buy anything I cannot afford, or have the income within the month to clear off the books, especially in this insane economy that has been foisted upon us all Comment from : Michael Wright

Thanks for the info time to buy a new shootgun Comment from : The kobudo kid

I just want a MacBook for school and I’m out Comment from : yair2057

I use Klarna, but I'm not stupid I only buy what I'd planned to buy and nothing more I've never missed a payment Comment from : The Adapted Reader

I have been using Klarna and so far so good I like it You just have to be responsible and know that you have to make your payments every 2 weeks Comment from : teresa spena

i have never gave them a social security number Comment from : i am right your wrong

My only complaint would be BNPL is not wildly applicable on every store I cannot benefit from it if where I shopped is not partnered with any of BNPL company，or it’s annoying to have multiple apps for different store Comment from : Terra

What do you think about the new trend "Save now buy later" apps? Looking forward for your analysis in the same Comment from : Mohamed Shibin Shilofer Malikathazham

I follow the markets and consumer debt I had no idea this was so prevalent I'm a Gen Xer, cash is king Comment from : Philip C Gossett III

I avoid any kind of debt/installments, because I know they're there to make more money, not to help us Unless it's something I need to barely live, like housing, food, etc, when I turned poor, If nothing happened to me that forces me to loan/credit/installments, I will never use BNPL Unless I immediately need it, I rather delay my purchases and invest the money instead I found that I like having a little bit more money in the long run, than having to pay more money in the end just because I want to buy something expensive that I don't immediately need Comment from : 謝寛貴

I have used Buy Now and Play Later vendors with no problems You just have to put them in your budget They also give you the option to autopay, but I usually pay them before the due date Comment from : Denise Prichett

i've used Afterpay and love it they've even increased my shopping limit For me it's better this way simply because walking around with that plastic card in my wallet that have gotten me into trouble in the past just seems like a magic card that i swipe and go without thinking of a later It's something of preferences we're all wired differently Comment from : A Ven

BNPL companies actually helps profit stores to make more money within a time frame within a bear market as well as to reduce times it takes to sell a product to customers Even though stores get like 95 of the profit while BNPL gets 5, they both win in the end based on statistical and human behavioral analysis Comment from : Albert Schultz

I’ve used BNPL maybe 4x now and its never been an issue for me simply because I already had the funds or knew Id be getting it very soon So I think like many other things, this is a tool that could either really benefit people or get misused I appreciate you educating your viewers, especially with that new BNPL that allows for guns?? Thats scary Comment from : samy mucho

I saw my credit card recently started to offer this I did a large purchase of 3400 on my CC and I clicked it out of curiosity to see what was it and as soon as I saw interest I laughed and was like no way That 3400 gave me $29 in cashback and was paid off before my bill came out They not catching me every do pay later Comment from : Stacy-Ann Morgan

Yeah I know they charge interest they are lying, I use it to buy stuffs on eBay but am almost done paying it and I’ll never use it again… Comment from : nunga cynderilla

Always pay everything up front and in full! If you can’t physically afford to do so, that should tell you something Comment from : Saintriley

I haven’t used it just because it is not available in my country Anyway, I think there is not a big difference between BNPL and credit cards It is a great tool to save money if you are wise financially, otherwise it is a trap for many exactly like credit cards brbrThank you for sharing, I have enjoyed watching ur video Comment from : The Mahmoud

I’ve never used it, but I’ve thought about using it It seemed like another version of a credit card and I just got my credit cleaned up Great information! Comment from : Delilah Sampson

Unfortunately, some people will not learn 😾 but great information as always guys! 🙏🏿 Comment from : Dan1975

I have utilized BNPL a few times in the past However, I will never use again I think it's good to mention that even if BNPL companies aren't partnered with specific companies there are ways to obtain a loan from BNPL companies to make purchases This method takes advantage of people because they usually charge outrageously high interest on the more affordable/reasonable payment options Comment from : DJ Meighan

Never used it Don't plan on it I've been burned by credit card consumer debt enough Working on getting out if it right now After this not buying anything I don't have actual cash for in the bamk at that moment brPNPL is worse that credit cards predatory lending almost as bad as payday loans Comment from : Ana M

Trying to learn abput finances with you! I wish I'd never discovered BNPL because I can confirm I´ve spent more than intended Right now i am trying to pay off everything i´ve purchased with BNPL and forget about it because its not a good option if you want to buy somethingthere´s always a catch! Thank you for this video Comment from : Nini McKay

I actually have never used BNPL However, now that you mentioned it in this video, next time I want to buy something, I'm going to buy it with BNPL if that is an available option You guys should partner with one of those companies and make a follow up video about it later this year Comment from : no more

Very informative videos thanks for this Comment from : Jibril Abdulkadir

lmao i literally got a BNPL ad at the start of the video (from gratify) Comment from : big man pig man

Really not sure what to think about these ones, I don't believe I benefit in using these services but there are certainly much worse options out there I'm seeing more and more ads for financial loans for consumers these days Comment from : Ryan Tsui

never had a late payment but I did use it to get some summer clothes because of quarantine weight and I wasn't confident about buying online intended to return a bunch of items I didn't love and missed the return window 🥺 otherwise my experience has been minimal and functional no issues with the few times I used it Comment from : morethanyourbasics

Moral of the story if it sounds too good to be true it probably is Comment from : Ornela Wakandigi

after getting my condo, i did use AccorD with Desjardins and Flexiti for appliances and furniture for the condo I agree, its worth to be hesitant and think hard for what to use it on I plan on getting a laptop at the end of the year, and am comtemplating for buying outright since its a low price electronic and would rather use BNPL with renovations Comment from : GujuGaming

I think paying later is a good option as I don't need to use my savings account $ or overspend my monthly budget when I need to purchase a big account item such as a travel ticket It's very convenient in Aisa country :) Comment from : Natt Nathalie

Loved that a BNPL ad came up while watching this Comment from : Tristan N

I was wondering if you guys can talk about how you go on vacations or afford luxuries in life? I am unsure if you save for the fun stuff or are just more frugal people? Please make a video! Comment from : sabine paley

If you can't pay Cash, you can't afford it Comment from : Moise

Very informative as always I'm not a fan of the concept The fact that the items purchases are not necessities shows that we are addicted to immediate gratification It is ok to want something and save up for it or wait until it goes on sale etc Why must we have everything we want right away, at the expense of our financial stability? It's not like these things are never going to be made There will always be something new every year, it literally does not stop Comment from : fayih

I didn't even think of how it affects your credit! I mean obviously since it's lending but wow love that you get no score boost for paying on time like with a card lol I'm really really glad I got bad vibes from these things and stayed away Still trying to build mine back up from a bit of a tank during 2019/2020 Thanks for this video! Comment from : Stellar Elite

If you need BNPL to buy something, you probably cannot afford it in the first place Hi from India Steph & Den ! Comment from : Tanmoy Sal

I think another interesting aspect of BNPLs is how much more my generation trusts them compared to credit card companies At the very least, you can earn a miniscule amount of money back with CC, but with BNPLs, you literally get no cashback Comment from : Ariel Sanchez

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