Apple Pay Later Will Let You Pay for Purchases Through an Installment Plan With No Interest or Fees

[deeddawg]

And btw: in Denmark (and I assume most of EU) your credit score is generally not based on your ability to pay back what you loan on a regular basis (eg on a credit card).

Instead the bank will typically look at if you can avoid overdraft. So keep your balance in positive or even put money aside. So you don’t need to do a lot of spending with a credit card to proof that you can manage your economy. Just pay your bills on time.

In the US, making your payments on time is a factor in the score. You might have plenty of cash on hand, but if you show a pattern of missed/late payments you'll get a negative impact on your score.

Another factor is credit utilization - the ratio between your debt balances and your credit limits. So the person with a lot of available credit who carries little to no balance will have a higher score than the person who is nearly maxed out.

An interesting tidbit I realized a number of years ago - the credit card balances reported are whatever is on your statement. So as one who uses my cards for as much of my spending as I can (2% cash back adds up), I started to go online and pay off the cards a couple days before the statement date.