Economy Talk

Buy now, pay later is just a credit card wearing a hoodie

Hot take from someone who reads consumer contracts for fun: "pay in 4" services are marketed as the friendly, modern alternative to credit cards. No interest! No hassle!

But look at the late fees, look at how many people have five of these running at once across different apps, and look at how little of it shows up clearly when someone checks how much debt you have.

A credit card at least sends you one bill. I'm not saying ban them. I'm saying call them what they are: debt.