Part 7/8:
Avoid using BNPL for everyday expenses: Using these plans for small, recurring costs can quickly lead to a tangled web of debt.
Be aware of the lack of protections: Understand that BNPL schemes don't provide the same legal shields as credit cards, so disputes may be harder to resolve.
Consider alternative options: Saving up for purchases or using traditional credit with benefits such as consumer protections might be a safer path.
Be cautious about the impact on your credit: Know whether your BNPL plan reports to credit bureaus and how missed payments could affect your credit standing.