Best Buy Now, Pay Later Sites & Apps in 2024

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Written by
Amanda Push
Updated October 30, 2024
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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Affirm: Best for big purchases

0% for Pay in Four; 0.00% - 36.00% for monthly financing

6 weeks for Pay in 4; 3 to 60 months for monthly financing

None

Pros
  • Can make purchases up to $20,000
  • Reports some monthly financing payments to Experian, which can help you build or improve credit
  • No late fees
Cons
  • High interest on monthly financing if you have bad credit
  • Only applies to orders $50 or higher
  • May have to submit to a credit check

Overview

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Affirm offers several perks to borrowers, including zero late fees. However, with Affirm, you may have to pay interest on your loan, depending on the type of payment plan you have.

There are two types of payment plans Affirm users can choose from: One is short term, while the other offers more time for consumers to pay off the loan, though this option may come with interest.

  • Pay in 4: Should you choose this route, you won’t have to worry about any interest or fees. Your purchase will be divided into four installments, and you’ll make a payment every two weeks. This plan has no impact on your credit score.
  • Monthly payments: This plan is best for consumers who want to make a large purchase. Unlike the Pay in 4 plan, you’ll only pay on your BNPL loan once a month. However, you may have to pay interest with this plan, which ranges from 0.00% to 36.00%.

Afterpay: Best for responsible spending

0% for Pay in 4; 6.99% - 35.99% for monthly financing

6 weeks for Pay in Four; 6 to 12 months for monthly financing

Up to $8 (cannot exceed 25% of purchase) late fee

Pros
  • Can reschedule your payment up to five days, three times a year
  • Displays your estimated spending limit in the app, and you can earn higher spending limits with responsible use
  • Has a financial hardship program
Cons
  • Charges late fees
  • Interest can be as high as 35.99%
  • Customer service is only available via contact form (no phone number or chat)

Overview

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It can be easy to get carried away using BNPL. Afterpay helps encourage responsible use by allowing you to reschedule payments. However, unlike some BNPL apps, you only get three extensions a year. Although this might sound like a downside, unlimited extensions could trap you in a cycle that’s hard to break.

Keep in mind, though, that the only way to contact Afterpay is by submitting a request form. This may be frustrating if you need immediate assistance.

Klarna: Best for a wide selection of retailers

0% for Pay in 4 and Pay in 30 days; 0.00% - 33.99% for monthly financing

30 days for Pay in 30; six weeks for Pay in Four; up to 24 months for monthly financing

Up to $7 late fee per missed installment

Pros
  • One of the most extensive lists of participating retailers in the BNPL market
  • Can create a digital card to use in-store
  • Can get up to 10.00% cash back by shopping through the Klarna app
Cons
  • Charges late fees
  • Can get help via chat, but must request a rep to call if you want to speak over the phone
  • May be charged up to 33.99% on monthly financing plan

Overview

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To use BNPL, the store you’re shopping at must be a partner. Klarna works with more than half a million retailers. You can find stores that accept Klarna by shopping through its mobile app, via a browser extension or on Klarna’s website. You can also create a digital card and use Klarna in brick-and-mortar stores.

If you miss a payment with Klarna, you may be charged a late fee per missed installment. You can choose from the following types of payment plans:

  • Pay in 4: Like other BNPL platforms, you can split the total cost of your purchase over the course of six weeks, paying just every two weeks. You won’t have to pay interest with this plan.
  • Pay in 30 Days: If you want to purchase an item but would like to see it in person before you buy it, Klarna allows you to get the item and see if you like it before paying for it. If you decide to keep it, you’ll need to pay for it within 30 days.
  • Monthly financing: As a third option, Klarna allows consumers to use a monthly financing plan. With this plan, you’ll have to pay 0.00% – 33.99% in interest.

PayPal: Best for purchase protection

0% for Pay in 4; 9.99% - 35.99% for monthly financing

6 weeks for Pay in 4; 6, 12 or 24 months for monthly financing

No sign-up or late fees

Pros
  • Purchase Protection program can provide peace of mind
  • Zero late fees
  • Has a phone number you can call if you need help
Cons
  • Can only use online, not in-store
  • Monthly financing option is more expensive than many BNPL apps thanks to a high minimum APR
  • Can’t use if you live in Missouri or Nevada

Overview

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You may recognize this BNPL site as an extension of the popular payment platform, PayPal. What helps PayPal’s BNPL stand apart is its Purchase Protection program. If you don’t receive your order or if it isn’t as described, you can make a claim. Note that your PayPal account must be in good standing, and only certain items are eligible.

Because PayPal’s minimum APR is high on its monthly financing option, its Pay in 4 plan may be a better bet. You also can’t use PayPal Pay in 4 if you live in Missouri or Nevada.

Sezzle: Best for rewards for on-time payments

0% for Pay in 2; 0% for Pay in 4; 5.99% - 34.99% for monthly financing

6 weeks for Pay in 4; 3 to 48 months for monthly financing

Up to $15 late fee, but no more than 25% of order amount; up to $7.50 reschedule fee; up to $2.50 convenience fee

Pros
  • Has a rewards program
  • Can use in-store
  • Offers exclusive deals on popular name brands (but you’ll have to sign up and pay for Sezzle Premium)
Cons
  • Lots of fees
  • Can only contact customer service via online form
  • Only two payment plan options

Overview

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You can earn rewards by making your payments on time through Sezzle Streak. With this, Sezzle will give you entries into monthly drawings, referral bonuses and access to its premium services for using Sezzle responsibly.

However, Sezzle charges more fees than many other BNPL apps (including one for rescheduling your payment).

Zip: Best for paying bills

0%

6 or 12 weeks

Installment fee varies; up to $7 late fee; $2 reschedule fee

Pros
  • One of the only BNPL apps that allows you to pay for your car insurance, your cell phone and other bills
  • Has a customer service phone line that’s open seven days a week
  • Offers physical cards
Cons
  • Your service provider must accept Zip to use it for bills
  • Has a complicated fee structure in place of interest
  • One free reschedule per month, but charges if you need another extension

Overview

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Most BNPL apps only let you pay for retail purchases. Zip, on the other hand, partners with some of the country’s biggest cell phone and car insurance providers. Verizon, AT&T, T-Mobile, Allstate, Geico and Progressive all accept Zip as payment. You can also use it to pay Boost Mobile, Sprint, Spectrum and more.

Although Zip doesn’t charge interest, it has a lot of fees. This includes an installment fee every time you use the app.

What is BNPL?

What is buy now, pay later? BNPL financing options can make it easier for some consumers to afford their purchases by breaking them into smaller chunks that are repaid over a short term. You can find BNPL options at just about any online retailer — anywhere from Target to Amazon.

Traditional BNPL plans are paid over a total of six weeks, with the first payment owed up front. There is typically no interest charged on these types of plans. Lenders also tend not to perform credit checks with these plans.

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How do buy now, pay later apps work?

In some cases, if you want to make a purchase but cannot afford to pay the entire balance upfront, some retailers offer buy now, pay later options that allow you to break up your payments, offering you more time to pay.

Here are a few common forms of BNPL you might encounter:

  • Pay in 4: This is the most common form of BNPL services. Your payments will be split into four installments across six weeks, and you’ll need to make a payment every two weeks until the item is paid off. Typically, this type of BNPL comes with no interest or fees, though it’s important to check the fine print before signing up to be sure.
  • Pay in 30 Days: With this type of BNPL financing, you can purchase an item and see it in person without paying for it up front. If you decide to keep the item, you’ll have to pay it off within 30 days. Klarna is one BNPL site that offers this service.
  • Monthly installments: Some BNPL companies, such as Affirm, offer monthly installments as a way for consumers to afford large purchases. This type of plan works similarly to an unsecured loan, and you’ll most likely have to pay interest.

How to choose which buy now, pay later app is best for you

Like personal loans and credit cards, BNPL apps are not one-size-fits-all solutions. It’s important to take into consideration details such as interest rates, fees and spending limits.

Here are a few factors that may weigh into your decision:

  • Interest: While interest typically doesn’t apply to Pay in 4 BNPL plans, it never hurts to check the terms of the company you’re considering. If you’re using a monthly installment plan, be sure to compare the interest rates offered if you have the option to check with multiple BNPL companies.
  • Fees: While companies like Affirm and Paypal do not charge fees, some BNPL companies charge convenience or, more commonly, late payment fees. However, if you find yourself in a tight spot and unable to make a payment, some BNPL sites allow you to reschedule your next payment.
  • Terms: While most BNPL sites operate with a Pay in 4 payment plan, there are other terms you can consider, such as Pay in 30 days and monthly installments. If you’re looking to make a larger purchase, BNPL apps such as Affirm and Klarna may be a good choice. Pay in 4 and Pay in 30 days plans may be a better fit for smaller purchases.
  • Amounts: Many BNPL sites have maximum spending amounts for users. For instance, PayPal Pay in 4 caps spending at $1,500, while some Affirm users can spend up to $20,000. The BNPL app that’s best for you may depend on whether you plan on making a small or large purchase.
  • Credit check: Most BNPL sites run a soft credit check when you apply. This won’t impact your credit. Others may run a hard credit check if you want monthly financing instead of Pay in 4. If you have bad credit, it may be best to use BNPL apps that don’t require hard credit checks. If you have a low credit score, some BNPL companies may cap your spending and gradually raise it over time as you demonstrate financial dependability.
  • Availability: The BNPL site you use may depend on the retailer you’re using. For instance, you can use Klarna with hundreds of thousands of retailers and brands. Not all apps have that many partners. Also, if you want to use BNPL in-store, make sure the site you’re applying with offers an in-store option.

If you find that a BNPL site will not work for you, consider a buy now, pay later alternative.

BNPL vs. credit card

In some instances, you’ll have to weigh whether using your credit card may be a better option than using a BNPL service. Here are a few instances to consider.

  • Find out whether you’ll have to pay interest. One of the largest differences between BNPL apps and credit cards is that with a credit card, you may have to pay interest, but a BNPL Pay in 4 plan typically doesn’t charge interest. However, if you’re able to pay off your credit card balance before your monthly payment is due, you can avoid interest. Additionally, a 0% intro APR credit card may be a better option for large purchases, if you’re sure you can repay the balance before the promotional period ends.
  • Assess any fees. Depending on the type of credit card or BNPL service you use, you may have to pay a fee. Check for any potential fees that could make your purchase even more expensive.
  • Consider where you’re shopping. Some retailers do not offer BNPL services, so you’ll have to use another form of payment, such as your credit card. Be sure to check with your favorite BNPL apps to see which retailers they partner with.
  • Decide how you want to build credit. Some BNPL companies do not report your payments to the credit bureaus, so your credit score may not benefit from your responsible repayment. If you’re looking to improve your credit, it may be best to use and pay off your credit card.

How we chose the best buy now, pay later sites and apps

By offering a detailed and objective account of each BNPL lender’s rates and terms, LendingTree’s goal is to provide you with all the information you need to make a financially sound decision specific to your situation. For consumers looking for BNPL apps and sites, we chose lenders that offer borrowers the option to split up their payments.

Buy now, pay later apps and sites were chosen based on the following criteria:

  • Transparent interest rates, fees and repayment terms
  • Flexible loan amounts
  • Low or no fees

Frequently asked questions

The best BNPL apps depend on the features you’re looking for. For instance, if you’re looking for a BNPL service that doesn’t charge fees, you may want to consider Affirm or PayPal. Other factors to consider include loan terms, interest and amounts.

While some BNPL sites can help you build your credit score, many may not. This will depend on whether the BNPL company reports your payments to the three credit bureaus — Equifax, Experian and TransUnion. If they do not, your BNPL app probably will not help you build credit. If this is an important factor in your decision, consider a credit card or personal loan.

The credit score needed to qualify for a BNPL app will depend on the lender. Most BNPL companies perform a soft credit inquiry during the initial application process. Unfortunately, many BNPL sites are not clear about their specific credit qualifications.