Consumer Reports Advises Caution with Buy Now, Pay Later Loans Amid Holiday Shopping
As the holiday shopping season intensifies, many consumers are turning to buy now, pay later (BNPL) services to manage gift expenses. Consumer Reports warns that while these services offer convenience, they can lead to overspending and debt accumulation. Missed payments on BNPL loans can incur high fees and interest, and may be reported to credit bureaus, potentially affecting credit scores. Consumer Reports advises consumers to carefully select loans, avoid taking multiple loans simultaneously, and set reminders for payment due dates to avoid financial pitfalls. 
