Buy Now, Pay Later or ‘BNPL’ is a type of finance that allows you to make purchases on credit and pay for them at a future date, often without any interest. Choosing this option means that you can spread out the payment of your purchase over time into equal instalments, typically over 3 months. Some of the BNPL companies that you may have heard of are: Klarna, Clearpay and Laybuy.
Articles in this section
- What is Buy Now, Pay Later?
- Why is my Buy Now, Pay Later information showing on my credit report?
- When will this information appear on my credit report?
- How will this affect my credit score?
- Will I need to provide more information when using Buy Now, Pay Later finance?
- Will these changes affect how many Buy Now, Pay Later agreements I can take out?
- Will a good payment history with Buy Now, Pay Later be recognised in my credit score?
- If I miss a Buy Now, Pay Later payment, will it affect my credit score?
- Will credit searches be carried out or recorded every time I make Buy Now, Pay Later purchase?
- Do Buy Now, Pay Later providers have to report this information?