Buy now, pay dearly? (update)

Planet Money

Nov 12

Overview Shownote Highlights Transcript Chapters Pins

Shownote

(Note: A version of this episode originally ran in 2022.) Every time you shop online and make it to the checkout screen, you see those colorful pastel buttons at the bottom. Affirm. Klarna. Afterpay. Asking: Do you want to split your payment into interes...

Highlights

When you're shopping online, those tempting 'buy now, pay later' buttons can feel like a financial lifeline—offering instant access to goods without the immediate cost. But behind the seamless checkout experience lies a complex system that's reshaping how we spend, borrow, and even think about credit.

11:13

BNPL helps businesses sell more by attracting customers with no or bad credit

20:19

Amelia decided to stop using BNPL after a year and a half of struggling with debt.

22:50

BNPL use will be factored into credit scores starting this fall, affecting Gen Z borrowers

Chapters

How a simple fitness wear purchase spiraled into a BNPL debt trap

00:00

What’s really behind the merchant fees powering 'interest-free' loans?

11:13

Can you afford what buy now, pay later is really costing you?

17:17

Who’s using BNPL for survival—and who’s paying the price?

22:50

Transcript

Speaker 7: This message comes from Instacart, bringing magic this holiday season to the people who make it magic for others. Get delivery and deals on everything you need this season. Whether it's a last-minute holiday decor emergency, coverage for the hol...