As the holiday season winds down, many American consumers are turning to Buy Now, Pay Later (BNPL) options to alleviate the pressure of gift-giving amidst increasing credit card debts and surging inflation.
BNPL options offered by companies such as Affirm, Afterpay and Klarna allow for purchases to be paid in installments, often in six-week interest-free payments — but it’s not without drawbacks, especially for users who overextend their budgets, Fox Business reported.
