US EditionBuy now, pay later is everywhere: Is it a ticking time bomb?
- A growing number of Americans are using buy now, pay later loans to buy groceries, with 25% utilizing them for this purpose, according to Lending Tree data.
- 41% of consumers who used buy now, pay later loans reported making late payments in the past year, increasing from 34% the previous year.
- Matt Schulz from Lending Tree stated that many consumers are struggling to afford necessities due to high inflation and rising interest rates.
- Schulz cautioned users about the risks of mismanaging BNPL loans, stating, 'It's just really important for people to be cautious when they use these things.
42 Articles
42 Articles
'Uncertainty' leads to record number of Americans financing groceries
"Buy now, pay later" (BNPL) has typically been associated with purchases for luxury items. But a new report suggests that it's now becoming a way many Americans are buying basic needs like groceries.Fortune reported Monday that roughly one in four Americans are now financing purchases for groceries and food delivery, according to a new survey by LendingTree. In that survey, approximately a quarter of the 2,000 respondents polled said they used B…
A quarter of U.S. consumers are now financing groceries with buy now, pay later as economic pressures mount, survey says
Consumers are feeling the squeeze from economic uncertainty and are turning more to financing essential purchases like groceries. An April survey from Lending Tree shows an increase in Americans using buy now, pay later services for groceries—25% this year compared to 14% in 2024. More Americans are taking advantage of financing options for essential purchases, the latest sign of mounting concern over the health of the economy. Consumers have in…
Groceries on Credit: More Americans Turning to Buy-Now, Pay-Later Loans for Household Purchases
A new survey finds an increasing number of Americans are using payment plans for groceries as easy credit installment offers create an outlet for short-term cash shortages.
More People Buying Groceries With Buy Now Pay Later – Late Payments Rising
from ZeroHedge: In yet another sign of a cracking and creaking US economy, Americans are increasingly tapping Buy Now, Pay Later (BNPL) financing to pay for daily essentials — even groceries — according to a new survey released Friday by Lending Tree. “A lot of people are struggling and looking for ways to extend their budget,” said Lending Tree chief […]
Buy now, pay later for fast food: Flexible spending option or a gamble?
A partnership between the financial services company Klarna and food delivery service DoorDash will allow customers to pay for food or grocery delivery using a Pay in 4 model, also known as buy now, pay later.Buy now, pay later has emerged as a wildly popular way to pay by splitting purchases into smaller payments.It can help in times of financial hardship but is it always a good option?Student Ellie Cochran is among the college-age shoppers who…
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