Have you used Buy Now, Pay Later providers like Klarna, Clearpay and Laybuy?

John_

MSE_Will said:

Hi everyone, 

What are your experiences of using Buy Now, Pay Later firms like Klarna, Clearpay and Laybuy? These types of firms often allow shoppers to buy products online or in shops and pay in installments over a short period, without adding on any interest.

I'm looking into this area and I'm really interested to know how the experience is overall (good/bad points), and if the availability of this payment method has changed your behaviour or spending decisions. 

If you've used Buy Now, Pay Later, how's it gone for you? Or if you avoid it, why is that?

MSE Will

I’d never want to use it. There’s literally no benefit to me, and it’s yet another way to tempt people into debt as it’s “just” buy now pay later, not “real” debt.

greensalad

I use it to split payments for things. Yes, it's true, I can't afford to buy it outright that's why I'm splitting the payments. It's helped us get things we've been saving for sooner and why not? I don't see the harm personally in buying a hoover, say (what I used it for), on a 3 month spread vs saving 3 months for it. At the end of the day, I got the thing I wanted quicker with no downside. 

newsgroupmonkey_

Klarna refused me too on an iMac. I simply went elsewhere. Was a bit bizarre if I'm honest.

I'm a homeowner. Have some healthy credit  (0%), no overdraft. Credit score (yes I know) is great. I didn't want to borrow the whole lot either - about £500. Just threw it on the 0% card and i've since paid it off in a month or two.