This Money Girl episode was inspired by several questions I’ve received from listeners about various buy now pay later offers or BNPL at checkout online and in local stores. You’ve asked about whether they really are interest-free, how they compare with using a credit card, and the pros and cons.
So, if you’re ready to understand more about BNPL and whether it’s right for you, stay with me! To chat about everything you need to know, I interviewed Bill Walsh, Chief Customer Officer for Sunbit, a BNPL technology company. Bill and I had a great conversation about the current buy now pay later landscape and tips for using offers to help your financial life instead of hurt it.
Here are a few topics Bill and I cover on the show:
- The two primary types of BNPL offers you can use.
- How a BNPL purchase compares to using a credit card.
- Sunbit’s survey results that reveal the effect of inflation on essential purchases.
- Types of purchases you should and shouldn’t make using any BNPL offer.
- What to consider before choosing the best financing option.
- How using a BNPL option affects your credit health.
- Where you can find local merchants that offer BNPL for necessary purchases, such as auto repair, dental work, eye care, and veterinary services.