AFTPF - Buy Now Pay Later users aren't forsaking credit cards TransUnion study says

The assumption that younger consumers are embracing "Buy Now, Pay Later" and other point-of-sale financing options to avoid building credit card balances may not be the case, according to a new study from TransUnion. The study found that BNPL and POS offering did not appear to affect a consumer's usage of other forms of credit. On the contrary, BNPL/POS applicants generally used other forms of credit more than the rest of the population, TransUnion said. "Consumers who may utilize point-of-sale financing are not doing so at the expense of traditional credit," said Liz Pagel, senior vice president of consumer lending at TransUnion. "We saw consumers who have applied for POS financing building balances on bank and retail cards, and applying for new credit at higher levels than the general credit population." Source: TransUnion The survey of almost 1,000 BNPL users found that the majority of consumers cited spreading payments over

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Buy Now, Pay Later users aren't forsaking credit cards, TransUnion study says