Best Buy Now, Pay Later Sites & Apps in 2024

Written by
Amanda Push
Edited by
Emilia Benton
Updated August 02, 2024
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.

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.
Privacy Secured  |  Advertising Disclosures
 

Affirm: Best for long-term financing

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

3 to 60 months

None

Pros
  • Can make purchases up to $20,000
  • Zero interest applied on the Pay in 4 plan
  • No late fees
Cons
  • May have to pay interest
  • Only two payment options
  • May have to submit to a credit check

Overview

+

Affirm offers several perks to borrowers, including zero late fees and flexible payment plans ranging from 3 to 60 months. 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% – 36.00%.

Afterpay: Best for zero interest

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

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

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

Pros
  • No interest on Pay in Four plans
  • Lower credit limits may help prevent overspending
  • Ability to change payment due date
Cons
  • Charges late fees
  • Interest can be as high as 35.99%
  • Purchases have to be approved by Afterpay

Overview

+

Consumers can avoid paying interest by using BNPL through Afterpay. However, you will have to pay a late fee of Up to $8 (cannot exceed 25% of purchase) if you’re more than 10 days late on your payment.Like many BNPL sites, Afterpay uses the Pay in 4 method, where you’ll pay off the entirety of your purchase within six weeks. To make life easier, you can connect your credit or debit card to your Afterpay account so you can utilize their autopay services.

If your shopping cart exceeds the limit of your Afterpay account, you may have to offer an initial first payment that will be larger than your consecutive payments.

Klarna: Best for variety of payment plans

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

30 days for Pay in 30; six weeks for Pay in Four; 6 to 24 months for monthly financing

Up to $7 per missed installment late fee

Pros
  • No interest on Pay in 4 and Pay in 30 Days plans
  • Flexible payment plans
  • Can be used in person
Cons
  • Charges late fees
  • Klarna must approve purchases
  • May be charged up to 33.99% on monthly financing plan

Overview

+

If you take out a monthly installment loan, Klarna may charge interest ranging from 0.00% – 33.99%. If you miss a payment with Klarna, you may be charged a late fee — Up to $7 per missed installment per missed installment.

However, Klarna has some of the most flexible payment plans on the BNPL market, which may work well for some consumers. 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 Pay in 4: Best for no late fees

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

Six weeks for Pay in Four; six, 12 or 24 months for monthly financing

No sign-up or late fees

Pros
  • Zero late fees
  • Borrowers won’t have to pay interest on Pay in Four plans
  • Pay in Four plans won’t impact your credit score
Cons
  • Charges up to 35.99% interest
  • Not available in all 50 states
  • Low borrowing amount

Overview

+

You may recognize this BNPL site as an extension of the popular payment platform, PayPal. The PayPal Pay in 4 plan is the only BNPL option PayPal offers. Like other similar plans, consumers can pay off an item in four separate installments over the span of six weeks.

PayPal does not charge late fees or interest. Purchase amounts are capped at $1,500, so this option may not be a good fit if you’re wanting to make a large purchase. Unfortunately, you won’t be able to use PayPal Pay in 4 if you live in Missouri or Nevada.

Sezzle: Best for rescheduling payments

0% for Pay in Four; 5.99% - 34.99% for monthly financing

Six weeks for Pay in Four; 3 to 48 months for monthly financing

Up to $15 reactivation fee; up to $7.50 reschedule fee; up to $5 convenience fee

Pros
  • Allows you to reschedule payments
  • Does not charge interest to Pay in Four plans
  • Pay in Four plan does not impact your credit score
Cons
  • Charges fees to reschedule payments
  • Interest can go up to 34.99% for monthly financing

Overview

+

Sezzle offers two types of payment plans: One in which consumers can pay for an item over the course of six weeks and a 3 to 48 months financing plan. With the first plan, you’ll make four installment payments with no interest. With the latter plan, Sezzle charges 5.99% – 34.99% interest.

One of the bonuses of using Sezzle is that you can reschedule your payments. You can do this up to three times, though you may have to pay a fee to do so. Sezzle also charges convenience fees.

Zip: Best for no credit checks

0%

Six weeks

$1 convenience fee; Up to $7.00 late fee

Pros
  • Does not impact your credit score
  • Allows you to change your payment due date
  • Offers physical cards
Cons
  • Charges a $1 convenience fee per installment
  • Only offers one payment plan
  • Charges late fee of $5 - $10

Overview

+

Zip is a BNPL service that allows consumers to pay off an expense over the course of six weeks in four payments instead of one lump sum upfront. There is no impact to your credit.

Zip does charge a $1 convenience fee for each payment installment you have ($4 total). However, Zip also allows users to change their payment due date, which may be a useful feature for some consumers.

What is BNPL?

Wondering what is buy now, pay later (BNPL)? 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 upfront. There is typically no interest charged on these types of plans. Lenders also tend not to perform credit checks with these plans.

On this page

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 buy now, pay later services. With this form of BNPL, your payments will be split up into four installments across six weeks. 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 upfront. 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 $17,500. The BNPL app that’s best for you may depend on whether you plan on making a small or large purchase.
  • Credit check: While some BNPL companies perform a soft credit check when you open an account, some sites, such as Zip, don’t require a credit check at all. If you have bad credit, it may be best to use BNPL apps that don’t require 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, Nordstrom Rack uses Afterpay, but if you shop at Target, you’ll have to use Affirm.

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. For instance, Zip charges users $1 per payment installment, $4 total.
  • 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 buy now, pay later 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. Some BNPL companies, such as Zip, don’t look at your credit score at all, while some may perform a soft credit inquiry during the initial application process. Unfortunately, many BNPL sites are not clear about their specific credit qualifications.