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'Buy Now, Pay Later' Plans Will Start to Impact Your Credit Score Later This Year. Here's How

CNET/Getty Images You can use "Buy Now, Pay Later" for just about everything now, from Costco purchases to DoorDash (although that doesn't mean you should). About 86.5 million people used BNPL in 2024, according to Capital One's research. But the one thing BNPL couldn't do was improve your credit. Although some of Affirm's plans do report to Experian and TransUnion, most BNPL services don't report on-time payments to credit bureaus. However, that could change later this year. FICO, one of the

Microloan Apps May Be Poised to Destroy the Economy

We love microlending, don't we, folks? Unlike old-school credit cards, with their days-long approval processes and prior credit minimums, buy-now, pay-later (BNPL) apps — companies like Klarna and Afterpay — offer hard-up customers instant financing options to buy the junk they crave the instant they see it. In the United States, purchases made with these apps currently don't even affect your FICO credit score — or at least, they never used to. That's all about to change this fall, when Fair I

Your BNPL Plans Could Soon Impact Your Credit Score. Here's When

CNET/Getty Images Have you ever opted for Buy Now, Pay Later at the checkout? You'd hardly be the only one. About 86.5 million people used BNPL in 2024, according to Capital One's research. Starting later this year, your BNPL plans could start appearing on your credit report. You can use BNPL for just about everything now, from Costco purchases to DoorDash (although that doesn't mean you should). But the one thing BNPL couldn't do was improve your credit. Although some of Affirm's plans do rep

Google Pay adds another popular way to split big payments into installments

Klarna TL;DR Google Pay announced plans to add Klarna as a buy now, pay later (BNPL) lender last year. The integration is now live, and US shoppers can use Klarna’s Pay in 4 and financing options for purchases on select Android apps and websites. To use Klarna as a BNPL lender through Google Pay, existing users must link their Klarna account, while new users need to complete the onboarding process within Google Pay. Google Pay introduced a buy now, pay later (BNPL) feature last year to help

Even Klarna is launching a mobile phone service now

is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. Klarna, the buy-now-pay-later service, is launching a mobile phone service. The $40 per month phone plan is launching in the US in the “coming weeks,” offering unlimited 5G data, calls, and texts on AT&T’s network — making it yet another MVNO in an increasingly crowded space. MVNOs, or mobile virtual network operators, are companies that sell phone