I've used it once, to buy myself a fancy new sewing machine a few months back, after having learned with a pretty basic one for several years. I later learned that Singer was one of the first company to offer "buy now pay later" schemes to help households pay for their sewing machine in the late 19th/early 20th century!
3 months ago | 0
Hope you talk about how Just Eat and others are allowing people to BNPL takeout it's disgusting. I've used Klarna twice for two pieces of furniture, products around £300 and only one purchase at a time. I know someone who had to take out a bank loan to pay back their Klarna debt and finally get out of debt. They got there buying clothes and makeup, purchases that were £50-£80 a time all eventually adding up all this when they were 18-19 years old. It's really sad.
3 months ago | 6
I've never use those apps, but the model of BNPL has been in use in Mexico for as long as I can remember. We have a sort of black Friday event here every year called "Buen Fin" and while there's discounts on products, there's a lot of emphasis on products being sold on monthly installments without charging interests. I should also mention that there's a mexican company called Coppel that got rich by using this model of BNPL.
3 months ago (edited) | 3
Commenting to boost! Never used these, but excited to see you talk about it
3 months ago | 5
I've used a few of them, but I've made sure to always read APR or the rates I'll have to pay back. The best ones i go for are ones with 0% I will hunt after. I'll gladly have an interview about why I've used them.
3 months ago | 2
omg i used to use afterpay all the time to make small purchases i knew i could pay off easily! i also used it to buy international return flights for me and my friends and paying that back was so fucking stressful that i stopped using afterpay for good
3 months ago | 4
I’ve used Afterpay in the past. I was really reluctant to use it at first, as I have ADHD and can be quite impulsive, but I did find myself in a spot where I needed to use it for an emergency expense. Then I justified another ‘important’ expense, and it snowballed until I was impulsively buying stuff I didn’t need, the exact way I was worried I would before I signed up. Eventually I had to sit down with myself and be realistic about my financial goals and how I was using Afterpay, I then worked towards paying it off and deleted my account. While I am still thankful that it was an option for me when I needed it for my emergency purchase, I do also feel that they are quite predatory and can make it quite easy for people to fall into a spiral of debt.
3 months ago | 1
I mean, I've used a credit card and layaway (back in the day), but none of these new high interest scam products. The old rather high interest BNPL scams already burned me bad enough. That's credit cards btw. Layaway was actually super useful and you can tell the poor actually benefited from cause as soon as stores could replace layaway with high interest credit cards, they did.
3 months ago | 1
Have worked in online payments for years and watched BNPL, in particular Klarna, become a big thing at PSPs. Personally, I use Klarna every once in a while if I don't particularly trust an online vendor, as the consumer protection part of it is pretty nice - I know their disputes system to be quite robust (moreso than most card schemes).
3 months ago | 0
I live in Sweden. Klarna is big here. I generally avoid debt, but have used it. I can share my limited experience, but I think I csn get a colleague of mine from South Africa who uses it as his main form of banking. Jis case might be a lot more interesting.
3 months ago | 0
You definitely need to compare to the lay aways at Christmas. With love✨✨✨🧚♀
3 months ago | 1
Have always been wary of using these services. It feels like a downward spiral once you start.
3 months ago | 1
I’ve always found BNPL for small, unnecessary expenses to be very sketchy, so I’ve never used them. I’ve heard stories of my parents being victimized by similar mechanisms in the late 90s and have always exercised caution in that regard for that reason. Unless something is an absolute necessity, I won’t buy it if I don’t actively have the funds
3 months ago | 0
I used one once to buy a flight to fly and see the love of my life 1 month after meeting then originally, it was like a $300 for the flight and I think like $40 to affirm I think it was, a very solid investment in my future happiness but I was the only time I've used one and it was 6 years ago. 😊
3 months ago | 0
Credit card debt is one of the scariest things in this world to me. Payday loans and BNPL fit into the same category. Spooky as all get out
3 months ago | 1
I do use after pay fairly regularly, I'm in a situation where I often cannot pay for things outright as I just don't make enough money to be able to save up or buy it outright, I've had a pretty positive experience, especially given their lenient late payment policies but it does change how you view spending money and has put me in some tough spots financially, despite continuing to use it I wouldn't recommend bnpl schemes if you haven't already used them, they can get dangerous very quickly. i would be more than happy to interview with you should you need more people! :D
3 months ago | 1
Used klarna to pay for my phone the last two time. 0% for two years, I'm happy for them to pay the interest for me.
3 months ago | 1
Not talk about it fed up with it. 126 Labour party MP's Thanks for it politically. That me as Italian with British passport.
2 months ago (edited) | 0
I used one once when we had a huge emergency vet bill, but only because the transaction was over my debit card limit. My experience was pretty good but I suspect that was largely because I had the money. I've also seen some of these transactions from the store side, and I'm... not a fan tbh. I'd be interested to see if you get that perspective in your video!
3 months ago | 1
Tom Nicholas
🎤 Interviewees Wanted! 🎤
For a while now, we've been working on a piece about Buy Now Pay Later products: Klarna, Afterpay / Clearpay, Paypal Pay Later etc.
One idea we've been toying with is to interview a bunch of folks with different experiences of using these apps/products.
And, in pursuit of some interviews, and as I've done before, I thought I'd reach out to all of you lovely people who watch my videos!
Are you (or have you been) a user of BNPL products?
Maybe you've used them to pay for big things. Maybe you've used them to pay for small things. Your experiences might be incredibly positive. Your experiences might be incredibly negative.
We're really looking for a range of experiences and reflections.
Obviously not everyone is happy talking about their spending habits and financial experiences for a large-ish audience. And that's completely fine!
However, if you're someone for whom this does sound like a comfortable experience, and you would be happy to potentially take part in a filmed interview for possible inclusion in a forthcoming video, I'd love to hear from you!
Thanks all!
⏬ Find out how to get in touch below ⏬
P.S. Even if this doesn't sound like something for you, liking and commenting on this post would really help to boost its reach, and help me in making this video the best it can be! So I'd suuuuuper appreciate that too!
3 months ago | [YT] | 341