Apple Pay Now Lets You 'Pay Later' With Klarna in Two More Countries

[GfPQqmcRKUvP]

Yes, but it needs 2 things. One is fiscal awareness so that you do it right with durable goods, this is something most people do not have as they use it for their latest bit of doordash cooking laziness.

The other is to be aware of weekly fees. Something is not interest free if there are ANY fees at all.

Most people can't understand this form of payment, or it's deeper implications (like how it does affect your credit score) and get into deep water, very fast.

There are plenty who understand it and use it as an interest free loan.

 

[Skyscraperfan]

If you can't afford something NOW, it is very optimistic to think you can pay for it later.

 

[tyr2]

One thing folks need to realise is that Klarna is very expensive for the merchant. They charge 6% which is about twice as much as an American credit card or 12x as much as a European credit card.

These additional costs get reflected in the price paid by everyone., because the merchant has a profit margin to maintain. So whether you use it or not you’re still worse off.

 

[slkjflla]

I've never tried these kinds of services as it seems like a bad idea. Also, I don't want my credit score to take a hit every time I do.

.

 

[erhock89]

I recently used this feature to buy furniture. Got the full amount paid for through Klarna. The company I bought from charged partial amounts whenever the items shipped. There was a long delay between shipments, and Klarna clawed back 40% of the original purchase. Klarna's customer service is awful, their app is pretty awful too.

Other than that, it was fairly smooth to use.

 

[TicinoLX]

99% interest rate. Got a source for that?

Klarna says their rates are between 0.00% and 35.99%

Pay over time with Klarna

Break up your purchase into smaller monthly payments. Get what you love and spread the cost over a period of 6-24 months.

www.klarna.com

Rate ranges from 0.00% - 35.99% APR based on creditworthiness, term length, and subject to credit approval.



Even "financial guru" Dave Ramsey reports the same.

The Truth About Klarna: Why It’s Dangerous to Buy Now, Pay Later

Klarna’s buy now, pay later app sounds convenient—until you're in debt. Learn how buying with Klarna encourages overspending and why you should steer clear.

www.ramseysolutions.com

Key Takeaways

• Klarna offers buy now, pay later options, including Pay in 4, Pay in 30 Days, and longer-term financing with interest rates up to 35.99%.
• Late fees and high interest rates on extended payment plans can make purchases more expensive over time.
• Using Klarna can lead to overspending and accumulating debt.

Problem is not only the interest, but also the reminder fees, having the possibility to pause the installment.

So yea, that’s just sad apple incentives people do that sbit.

I also worked in retail during my studies and most people buying the most expansive stuff are the ones who can’t (shouldn’t) afford it.
Guys, seriously. If you can’t afford just buy a cheaper item. It’s not a shame. Also never, ever buy food or holiday on BNPL. That will lead you to a vicious circle.

 

[theinstructor]

99% interest rate. Got a source for that?

Klarna says their rates are between 0.00% and 35.99%

Pay over time with Klarna

Break up your purchase into smaller monthly payments. Get what you love and spread the cost over a period of 6-24 months.

www.klarna.com

Rate ranges from 0.00% - 35.99% APR based on creditworthiness, term length, and subject to credit approval.



Even "financial guru" Dave Ramsey reports the same.

The Truth About Klarna: Why It’s Dangerous to Buy Now, Pay Later

Klarna’s buy now, pay later app sounds convenient—until you're in debt. Learn how buying with Klarna encourages overspending and why you should steer clear.

www.ramseysolutions.com

Key Takeaways

• Klarna offers buy now, pay later options, including Pay in 4, Pay in 30 Days, and longer-term financing with interest rates up to 35.99%.
• Late fees and high interest rates on extended payment plans can make purchases more expensive over time.
• Using Klarna can lead to overspending and accumulating debt.

Would you believe me if I told you that credit cards have rates as high as 36% (such as First PREMIER Bank's Mastercard) as well? This makes Klarna no better or worse.

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Sorry to tell you they are lying. I saw the 99% interest “offer” personally and the user has a perfect credit history. I did not screenshot his phone but we were both like WTF. The purchase was going to be some expensive brewing equipment, about $3500.