Buy Now, Pay Later (BNPL)
Escape BNPL debt and take control of your finances
Understanding BNPL Debt
Buy Now, Pay Later services like Afterpay, Klarna, Affirm, and others have made it easy to make purchases and pay them off over time. However, these services can accumulate quickly and trap you in a cycle of debt.
- Late fees add up fast - Missing a payment can trigger expensive late fees
- Multiple BNPL balances - It's easy to lose track across different apps
- High interest rates - Some BNPL services charge APR rates similar to credit cards
- No grace period - Unlike credit cards, you start accruing charges immediately
Creditmaxxing Strategy for BNPL Debt
- Calculate your total BNPL debt - List all outstanding balances across all services
- Prioritize high-interest balances - Pay off the most expensive balances first
- Consider a personal loan - Consolidate multiple BNPL debts into one lower-rate loan
- Stop using BNPL services - Switch to debit or cash-only purchases
- Budget better - Only buy what you can afford to pay for today