The explosion of “Buy Now, Pay Later” services has set off alarms that consumers are desperate, rushing into the largely unregulated installment loans after running out of mainstream credit options. While that’s the case for plenty of BNPL users, industry experts say many others are turning to the services by choice, seeing them as a complement — or alternative — to credit cards.
Texas mom Savannah Thrower, 27, has been using “Buy Now, Pay Later” to keep spending on clothes, shoes, makeup and household expenses while paying down her credit card balance.
“I feel like credit cards can be easier-to-spend money,” she said.
