3 ms·
It would be fascinating to have a look at the finances of these schemes to see what the proportions are of people who use it to responsibly smooth out payments
by frereubu 3y ago
It would be fascinating to have a look at the finances of these schemes to see what the proportions are of people who use it to responsibly smooth out payments vs those who use irresponsibly and end up just getting deeper in debt (and all the variations between those two extremes). My hunch is the same as yours, but real-world data would be very interesting.
- lxgr 3y agoNobody rational and responsible (with at least acceptable credit) uses BNPLs to "smooth out payments". The payment terms (100% after 3 weeks on average, vs. >98% after 4.5 weeks on average for credit cards) are strictly worse than those of credit cards.
- frereubu 3y agoAs I said, this is my hunch too. But there is at least one sibling comment which says they do use it responsibly. Public, hard data would give a clear outline of the reality rather than supposition and insinuation, and it would then be much easier to challenge that practice as predatory (presuming that’s what the data did say).