Best Buy Now, Pay Later Apps & Services For 2021

While making purchases, no better deal allows you to buy now and pay later. When you come across such a deal, then it means that you are lucky enough. Can you imagine shopping for goods worth $1000 and pay later on? That sounds good.

The Buy Now Pay Later aspect is suitable for those who stick to the scheduled payment plans. The good thing about many Buy Now Pay Later (BNPL) platforms is that they do not charge any interest to the buyers who violate the payment terms.

Since BNPL platforms can get a massive number of clients, many retailers have partnered with them. As a result, the retailers enjoy a good flow of customers hence a quicker turn-up.

These apps have low fees and interest rates, and still, there is also a credit limit just like a credit card. But other apps do not charge anything, not even late payment fees.

Here I have for you the best Buy Now Pay Later apps that can help you get whatever you want now and pay later.

Now let’s roll to the first BNPL app.

1. Afterpay

The Afterpay app analyses your credit limit using smart credit tools, ensuring that every customer can pay for what they purchase. This strategy helps to reduce any chances of overspending.

When you do not pay on time, Afterpay can charge you up to 25% late payment fees. However, when you pay on time, they will not charge you anything.

In addition, if you keep on paying on time, Afterpay can increase your credit limit. However, if you pay off your debts late, you can make the app decline your purchase. Credit limits in Afterpay start from $500 and run a simple credit check, but there is no minimum credit score.

Afterpay sends you payment notifications, ensuring that it’s difficult to miss payments.

2. Sezzle

Sezzle is a good BNPL app that is good for those who need flexible payment plans. You can pay for your purchases for up to 6 weeks, which is suitable for those who depend on minor sources of income. The platform has over 34,000 merchants and over 2.6 million customers.

Sezzle can push your payment for up to 2 weeks, making it stand out from the other BNPL apps. In addition, the app does not charge interest on purchases. But unfortunately, you will have to pay a downpayment of 25% of the purchases before getting your goods or services.

The app can reschedule the payment period, but it costs $5 for each reschedule. However, the very first reschedule is for free.

3. Affirm

Affirm has a purchase limit of $17,500, and it conducts a soft credit check to the customers.  The Affirm app has no fees charged to the buyers whatsoever. And if it does, the interest rates are simple and not compound, meaning that the purchase amount will not grow over time if you don’t repay.

With Affirm, you can either make purchases online or in a physical store. Something that makes me like Affirm is that it allows customers to choose a payment plan that is more convenient to them.

Affirm conducts a credit search, so those with bad credit history may not purchase using the app. In addition, Affirm has no physical credit card making it more difficult to use.

4. The Klarna app

Klarna is a BNPL app that allows you to split payments and pay for the purchases within 30 days. However, if you need more significant purchases, Klarna helps you get a 6-month to 36-month financing from WebBank, Its bank partner.

It’s free of charge to be a member of Klarna’s vibe rewards. For every dollar you spend, you earn a vibe that you can redeem later.

5. PayPal Pay in 4

Not only does PayPal offer money transfer services, but also a buy now pay later services. For example, the PayPal Pay in 4 Paypal features allows buyers to pay their purchases in 4 installments.

You make a downpayment at the time of purchase, and then they will split the remaining balance into three installments that you will be paying after every two weeks.

To qualify for Pay Pal pay in 4, you have to purchase between $30 and $1,500. However, this Paypal service is not available in all states. In addition, the late fees vary from one state to another.

6. Splitit

You can use Splitit with your current credit card. There are no fees and interests in this BNPL app. In addition, you don’t have to send an application for you to use the Splitit app.

While using Splitit, you will continue to earn any points associated with your credit card. Furthermore, your credit score will not be affected in any way while using Splitit. You can pay your purchases in 3 to 2 months.

7. Perpay

This BNPL app has limits starting from $500 up to $2,500. The app does not run any credit checks, so it’s suitable for those with a bad credit history. Instead, the app uses your employment history to determine your credit limit.

If you have a high income, the Perpay keeps your limit high, and the reverse is true. The good thing I love about Perpay is that it spreads your installments even over six months. However, you cannot receive the items until you make your first payment.

Perpay helps clients to improve their bad credit scores by reporting the payment to the three credit bureaus.

My take

The BNPL are good apps to try out if they exist in your state. However, you should only take items that you need most, do not get everything on the shelves because you are paying later. If you do so, you may end up in a big pit of debts.

Also, consider joining the BNPL’s that do not charge high interest rates in cases of delayed payment. At least now you have a variety of BNPL’s to help you make good decisions.