BNPL programs have their critics — RetailWire.com

BNPL might not be the holy grail for retail that some thought it would be. Consumers using the buy now, pay later programs are finding themselves getting deeper in debt:

A report from the Consumer Financial Protection Bureau published last year indicates that most ‘BNPL borrowers had higher credit card utilization rates and lower credit scores’ than non-BNPL borrowers. Per NBC News, ‘Many appeared to be leaning on the installment loans while also shouldering high rates on revolving credit card balances.‘”

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