4 ms·

Horrendous rates, non-clear fees, everything packed in a nice UI that leads clueless folks right into a trap. It's a scam scheme for financially illiterate peo

by iakov 4y ago

Horrendous rates, non-clear fees, everything packed in a nice UI that leads clueless folks right into a trap. It's a scam scheme for financially illiterate people IMO. The fact that it's added into a default browser in a most popular OS in the world adds insult to the injury.

JumpCrisscross 4y ago
I’m generally sceptical of BNPL. Is Klarna worse than the category?
- wowokay 4y ago
  No, I think it’s in that bucket, personally I haven’t had a problem with them.
Tijdreiziger 4y ago
Wait, I've used Klarna (not via Edge) and I've never paid any interest rates or fees. You just select Klarna as payment method and then you have 45 days to settle the bill. I've even been overdue on a bill (I forgot about it) and they just sent me an email asking to pay, still no fees. Of course if I had continued to neglect the bill, fees might have started kicking in at some point, but that's no different from any other postpaid service.
smachiz 4y ago
I don't think you're right about Klarna. I mean sure, it enables people to spend outside their means, but it hardly seems predatory. If I'm reading this right, the late payment fee is maximum of $7 for their 4 payment thing? https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_us/sliceitinx https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_u... If you bounce a check or an ACH the fee seems to be $27 (but not more than you owe) for their 30 day plan: https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_us/invoice https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_u... Their pay over time thing seems to be 0-29.99% which seems in line with credit cards? I mean, sure, I guess making it easy for people who make bad financial choices isn't great... but it's also easy for people who are making good financial choices.

4 ms·

Horrendous rates, non-clear fees, everything packed in a nice UI that leads clueless folks right into a trap. It's a scam scheme for financially illiterate peo

by iakov 4y ago

JumpCrisscross 4y ago
I’m generally sceptical of BNPL. Is Klarna worse than the category?
- wowokay 4y ago
  No, I think it’s in that bucket, personally I haven’t had a problem with them.
Tijdreiziger 4y ago
Wait, I've used Klarna (not via Edge) and I've never paid any interest rates or fees. You just select Klarna as payment method and then you have 45 days to settle the bill. I've even been overdue on a bill (I forgot about it) and they just sent me an email asking to pay, still no fees. Of course if I had continued to neglect the bill, fees might have started kicking in at some point, but that's no different from any other postpaid service.
smachiz 4y ago
I don't think you're right about Klarna. I mean sure, it enables people to spend outside their means, but it hardly seems predatory. If I'm reading this right, the late payment fee is maximum of $7 for their 4 payment thing? https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_us/sliceitinx https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_u... If you bounce a check or an ACH the fee seems to be $27 (but not more than you owe) for their 30 day plan: https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_us/invoice https://cdn.klarna.com/1.0/shared/content/legal/terms/0/en_u... Their pay over time thing seems to be 0-29.99% which seems in line with credit cards? I mean, sure, I guess making it easy for people who make bad financial choices isn't great... but it's also easy for people who are making good financial choices.