Klarna shopping habits will affect credit report

Buy-now-pay-later firm Klarna will start telling credit agencies who pays on time and who falls behind.

Citizens Advice said buy-now-pay-later "can be like quicksand - easy to get into but difficult to get out of" amid fears it encourages people into debt. "Too often consumers don't understand what they're signing up for and we've found people who've used it accidentally," he said. For shoppers, buy-now-pay-later seems to be everywhere. It has been used by 17 million people in the UK, including 30% of those aged in their 20s, but it has never been the most visible of credit products.

It will test the claim by BNPL providers that their customers are almost always able to keep to the "pay later" part of the deal.Will they consider applicants' use of BNPL products as a sign of financial stress and be more reluctant to provide loans and mortgages to them? Klarna said it had been working with the agencies for two years so they could adapt reporting systems which are set up for credit card companies.The Klarna announcement was made as official figures revealed that UK consumers had borrowed £800m more in March on credit cards.

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Klarna purchases will now affect customers’ credit scores🔴The Swedish payments giant said it will report purchases on its platform to companies such as Experian and TransUnion that hold data on the credit scores of about 50m adults in the UK from June see my naked photos
Source: The Telegraph - 🏆 41. / 63 Read more »

Exact date Klarna will show on your credit report - how it affects youSHOPPERS using buy now, pay later firm Klarna’s services will see these transactions logged on their credit reports from next month. It means that lenders will be able to see this borrowing f…
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Exact date Klarna will show on your credit report - how it affects youSHOPPERS using buy now, pay later firm Klarna’s services will see these transactions logged on their credit reports from next month. It means that lenders will be able to see this borrowing f…
Source: TheSun - 🏆 64. / 61 Read more »

Klarna purchases will now affect customers’ credit scores🔴The Swedish payments giant said it will report purchases on its platform to companies such as Experian and TransUnion that hold data on the credit scores of about 50m adults in the UK from June see my naked photos
Source: The Telegraph - 🏆 41. / 63 Read more »