Buy Now, Pay Later Impacts Credit Scores
Tap title to read story
FICO will incorporate buy now, pay later (BNPL) loan data into some credit scores starting this fall. This affects 15% of American adults who used BNPL in the past year, primarily low-to-middle income individuals, women, and younger generations. While on-time payments will boost scores, late payments will negatively impact them. The impact is generally small (within 10 points for most), but it provides a fuller financial picture for lenders and helps establish credit for first-time users. However, BNPL lacks the same consumer protections as credit cards.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.























