1ºYou know the terms and payments when you sign up for it. They even give you a heads up a few days before an automatic payment is coming up. I absolutely love this option for shopping online….and debt issues are also why I don’t increase the limits they set, that also gets people into trouble….and don’t use it for purchases every day!!! It’s great if you end up with a big medical bill, or an appliance in your house stops working. I know I don’t have , say, $1000 on hand at one time to get something fixed, but I know with after pay, I can afford $250 every other week for 8 weeks! No interest or fees….In these cases, it’s well worth it….
2ºAzriel Bentziyon I live in PA and on SS disability. It's not easy living on 1,100$ a month but I do it. My mother raised us by herself, not only did we go hungry at times but we were homeless more than once too. Most Americans have so much STUFF they don't even know what they have. When a garage is full and they still need a storage space then there's a problem. I keep things simple and I love it. I don't go out to eat but once a week and re-use, repurpose and recycle everything I can instead of buying new.
3ºTuesday Opoku but eventually you did learn the hard way. And some folks unfortunately don’t or can’t budget or don’t have the means to live winthin them for whatever reason. I just feel it can be very predatory to say a young disabled person who’s never had the opportunity to work, or even gets paid slave style wages (yes they do still allow this on some F* up level) this person then uses this service, car breaks down he’s now a payment behind with no extra money to make it up, and might not have the mental awareness to realize what’s going on. That’s where I’m worried about predatory lending.
4ºIt's a good service to utilize as long as you budget for the purchase and can afford the biweekly payments. The good thing about Afterpay and Klarna is that they don't have interest or fees as long as you stick with the payment plan... Again, it goes back to affording and budgeting.
I've spent over $4k on Afterpay and NEVER had issues or paid over what the item(s) cost. BNPL is good for things you need asap without having to fork out all the money at once.
If you're paying late fees or having it going to collections means you're terrible at managing your finances or simply overspending what you can't afford.
5ºJeffrey David Zacko-Smith is that a problem? I prolly have had an order of fancy socks on Afterpay before and I make in the high six figures and have great credit. I’m also an awesome budgeter and understand the longer money stays in my acct it makes money for me. I am very judicious with my cc and hate interest. If I can get around paying it I will. I have a budget for these extra items and if I’m getting to the end of that I use these services then usually pay off in two weeks when my budget re-ups. I have been like this my entire life even when I had next to nothing…. The govt getting involved has not made any financial product better. Regulation will take this option away bc a few people are irresponsible…
6ºThere are no fees or interest with some of these apps unlike a credit card. The more you use it and pay it on time, the more credit you’re offered which is why I used it for the smallest of items even if I had the money. It’s a great service if you need to make a large purchase and you’re in a pinch or just don’t want to pay the full amount upfront. If you’re having problems with it, you’re not using it responsibly. Some people use this service and get excited over paying the smaller amount while forgetting that they need to pay it off. Just don’t go crazy with it and you’ll be fine.
7ºPhil Lupercio well I find for me this keeps me in budget better I spend a lot more on my cc with that mentality of “oh I will pay it off at the end of the month”… I have had huge bills doing it that way. That’s just me. I’m just saying not everyone who uses these are irresponsible or doing it out of necessity. I think the govt ought to stay out of it,,,, millions file bankruptcy every year due to cc debt and nobody is talking about more regulations on them… bc they had to formulate huge lobbies etc…. Who is paying for that? Those of us with cc… this is filling a need and should be left alone.
8ºAbu al-Khattāb Qatādah reported that he asked Anas: "Was handshake common among the Companions of the Messenger of Allah (may Allah's peace and blessings be upon him)?" He replied: 'Yes.'
Qatādah asked if the Companions of the Messenger of Allah used to shake hands when they meet and great each other with Salām as an extra symbol of love and honor. Shaking hands is done with the right hands and causes the sins of those doing it to be forgiven before they separate and depart. This shows the virtue of handshake upon meeting someone to talk with him or the like. However, mere meeting in the marketplace does not require handshake for this was not the practice of the Companions. In other words, if you come across people in the marketplace, it is enough to greet them with Salām only.