The risks in buy now, pay later holiday purchases: Credit experts

Shoppers fill a Target Store on a Black Friday in Chicago.

John Gress | Corbis Historical | Getty Images

“Buy now, pay later” has become a popular payment tool among young consumers, replacing standard bank credit cards. And this year, the largest retailers are adapting to the trendy payment option for the holiday shopping season. But it comes with a warning: defaults on “BNPL” payments have been rising and experts worry BNPL can be a recipe for overspending.   

More than half of all consumers plan to use BNPL in the next year, and that’s good news for merchants. Shoppers tend to spend more per purchase when they use BNPL, according to McKinsey.  

The spending option is being offered for purchases large and small.

In September, Amazon struck a deal with Affirm that would allow consumers to split purchases of $50 or more into smaller monthly payments, a trend that

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Find the Right Card for You

Final Verdict

When choosing a credit card for online purchases, consider which stores or categories where you make the most purchases. Many credit cards offer additional rewards based on your spending. These cards may also offer protection in case your items are lost, stolen, damaged, or the store won’t accept a return.

Our choice for the best credit card for online shopping is the Capital One Quicksilver Cash Rewards Credit Card. You’ll earn an unlimited 1.5% cashback on your purchases and it offers a generous $200 cash bonus after spending just $500 within three months. Plus, Capital One offers an extended warranty on eligible items and virtual card numbers from Eno (your online virtual assistant) to protect your card details when shopping online. It has no annual fee and does not charge foreign transaction fees, so you can shop online or in-person without any surprise fees.

Compare the Best

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Rock Hall 2021 Induction: Drew Barrymore’s Go-Go’s Speech

She also reminded us it was Halloween weekend. We forgot about that.
Photo: Michael Loccisano / Getty Images

Drew Barrymore had the beat, the mask, the hair twist, and the body towel at the 2021 Rock and Roll Hall of Fame ceremony, where daytime TV’s greatest host inducted her favorite band in the entire universe, the Go-Go’s, into a club that’s overwhelmingly dominated by men. “It’s such an honor, and honestly, it’s really easy to do because the Go-Go’s have been in my personal Hall of Fame since I was six years old,” Barrymore’s unsealed lips began. “In fact, if you’d told tiny me that I’d be up here introducing my heroes into the most notable rock club in human history, I would say, ‘Well, I will do my best to honor these women.’” But it’s what came next that would’ve made her great-aunt Ethel, grande dame of the

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