At first glance, a “buy now, pay later” plan’s promise of no interest or upfront fees can seem more appealing than a credit card’s terms. Dividing a transaction into, say, a pay-in-four installment plan sounds straightforward and manageable.
Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | Stitcher | RSS Feed | Omny Studio 2. Easier payment managementCredit cards simplify tracking multiple purchases and payments in one place. If you’re juggling buy now, pay later plans from several companies with different due dates, it’s not as seamless.
“That protection, which can be a frustrating thing for a consumer who is trying to get credit, actually can be a really helpful protection to stop someone from getting in over their head on multiple lines of credit,” deHaan says. Check out more of this week's best financial reads National News alert 4 tips to get ahead of holiday season supply chain shortages | PennyWise podcast Could more disruptions in the supply chain lead to new shortages on store shelves? These tips can help you secure your holiday gifts.
Smart Change: Personal Finance How to Make the Most of New Rules for Charitable Giving Most people no longer get a tax deduction when they donate to charity. That shouldn’t keep you from making donations, but you may want to change your approach.
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