Buy Now, Pay Later vs. Credit Cards: Which is the Better Option?
Credit cards and the Buy Now, Pay Later (BNPL) model are both common consumer financing options, but they are distinct in important respects. The financing terms for purchases through BNPL are normally short-term and free of interest and fees, whereas those through credit cards are longer and come with associated costs.
Typically, BNPL is utilized for minor items like apparel and household goods. Afterpay, Klarna, and Affirm are some of the most well-known BNPL suppliers since they let...