40% of U.S. shoppers who used “buy now, pay later” have missed more than one payment - Study

08/February/2021

Nearly 40% of U.S. consumers who used “buy now, pay later” have missed more than one payment, and 72% of those saw their credit score decline, according to a study by Credit Karma, which offers customers credit score checking for free.

The study, conducted for Reuters, surveyed 1,038 adult consumers in the United States to gauge interest in “buy now, pay later” and found 42% of respondents had used the service before.

“The percentage of consumers missing payments is remarkable and not as low as you would expect,” said Gannesh Bharadhwaj, general manager for credit cards at Credit Karma... reuters.com