Amna Nawaz
@PBSNewsHour·5.3M subscribers·62.2K videos
WATCH: Buy now, pay later? Keep these 3 tips in mind
Posted
June 5, 2025
Views
2,233
Likes
53
Engagement
2.37%
June 5, 2025
2,233
53
2.37%
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4:47Now PlayingUnlike layaway programs, buy now, pay later programs let you purchase goods immediately, paying them off over time through a loan from a third party company, like Klarna, Afterpay or Affirm. More than one in five consumers with a credit record in 2022 used buy now, pay later programs, according to a report released this year by the Consumer Financial Protection Bureau.
But reports from Klarna and other financial services companies show that over the past year, a growing number of users are falling behind on their payments.
PBS News' Tim McPhillips takes a look at why these loans have become so popular and speaks to the Washington Post's Michelle Singletary about what consumers should keep in mind to protect themselves.
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