Consumers are expected to use “buy now, pay later” payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit experts again sounding alarm bells.
I have seen this before. What happens is they offer a grace period like 6mo or 1yr. If you don’t pay off by then you get charged the entire grace period of interest added to the balance.
I have seen this before. What happens is they offer a grace period like 6mo or 1yr. If you don’t pay off by then you get charged the entire grace period of interest added to the balance.
So in the end your pay for the interest.
If you don’t pay it off in time