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Buy Now, Pay Later

Buy Now, Pay Later reporting is coming soon to your TransUnion credit report. Learn more about Buy Now, Pay Later loans, discover how they work and get tips for using them.

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What is Buy Now, Pay Later?

Buy Now, Pay Later (BNPL) loans are loans provided at the point-of-sale for retail transactions for the purpose of financing a one-time, unsecured transaction. They allow you to finance a purchase with multiple, equal payments instead of one lump sum.

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Buy Now, Pay Later Loans and Your Credit

Thinking of using a Buy Now, Pay Later loan for your next purchase? Learn tips on how to use BNPL loans responsibly.

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Buy Now, Pay Later vs. Credit Cards

Buy Now, Pay Later loans are a type of credit, but they're different from credit cards. Learn more about how they vary and when to use each.

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Buy Now, Pay Later Usage

Whether you’ve taken out a BNPL loan or not, you may see more stores offering it at checkout. In 2024 research by TransUnion, here's what we're seeing about U.S. consumers' familiarity with these loans, and how they're using them:

Survey results from the Q2 2024 TransUnion Consumer Pulse showing that 79% of consumers have heard of BNPL and 14% of consumers currently have BNPL loans
Survey results from a Q2 2024 TransUnion study showing that 46% of consumers use BNPL to buy electronics, 44% use it to buy clothing and shoes, and 36% use it to buy home decor, furniture or appliances

Tips for Using BNPL

Whether you’ve taken out a BNPL loan before or are considering trying one for the first time, it’s a good idea to understand how they work.

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Understand the Terms

Different BNPL loan options will have different payment options and terms, such as how long you have before payments are due. Review the terms and make sure you have enough money available to avoid late fees.

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Check for Fees

Some BNPL loans may include fees for late or missed payments, and may send unpaid debt to collections. Check these details before making a purchase.

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Consider Your Budget

BNPL loans break up larger payments into smaller, more frequent payments. Make sure a purchase made with BNPL fits your budget.

You have questions, we have answers.

Browse our FAQs below.

Are other credit bureaus including BNPL installment loans in their credit reports?

BNPL installment loans may appear on credit reports differently based on the credit bureau. Please visit the websites of the other credit bureaus to learn more about their treatment of BNPL installment loan accounts in their respective credit reports.

Are all BNPL companies reporting their data to the credit bureaus?

Not yet, but they may in the future. If you have a BNPL loan, you can check with the company to see if they will be reporting to any of the three nationwide consumer reporting agencies (TransUnion, Experian and Equifax). At this time, very few BNPL lenders are reporting data about their loans to the credit bureaus, but many are planning to begin soon.  

What You Need to Know:

The credit scores provided are based on the VantageScore® 3.0 model. Lenders use a variety of credit scores and are likely to use a credit score different from VantageScore® 3.0 to assess your creditworthiness.

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