-
Introduction
-
Deep, Deep Dive
How is BNPL different from credit cards?
Like credit cards, BNPL plans allow you to spread out your payments for things you want to buy. One main difference between BNPL and credit cards is that you don’t need a credit history/specific credit score to be eligible for it. But, you’ll have to meet certain requirements (like age and employment status) before you can sign up for BNPL.
Here are some other differences between BNPL and credit cards:
BNPL | Credit cards | |
Who decides your credit limit? |
|
|
How much can you get? |
|
|
What is your limit based on? |
|
|
What is the repayment period? |
|
|
Where can you use it? |
|
|
How long does it take to sign up? |
|
|