What are Buy Now, Pay Later Plans?

Buy Now, Pay Later (BNPL) plans are a popular alternative to buying with credit cards, especially online. These plans split the cost of a purchase into smaller, interest-free installments that you pay over time. They are often advertised as “pay in four” plans that bill equal amounts every few weeks. Simple, right?

Well, not always.

BNPL is not an installment agreement with a retailer. BNPL is a line of credit from an outside company, part of a growing, multi-billion-dollar market. This page is devoted to helping you decide when, where and how BNPL may be a good fit for your needs — and to arm you with the insights you need to avoid overextending yourself.