Credit scores are getting an update. FICO, a major credit scoring company, is now including "buy now, pay later" (BNPL) data in some of their scores. This change could impact how lenders view your financial health. BNPL services are everywhere. They allow you to break down purchases into smaller payments. It's like a modern layaway plan. In 2024, 15% of American adu...
It was a simple task. Brittany needed a new couch. However, every time she found one she liked, she hesitated at the checkout. The price tag was too high. She did not want to commit to such a large purchase all at once. Then, she noticed something interesting. Right below the usual payment options, there were new choices. Companies like Klarna, Affirm, and AfterPay o...
The economic climate is tough, and many Americans are feeling the pinch. One clear sign of this is the increasing use of buy now, pay later (BNPL) loans for everyday purchases, like groceries. This trend is on the rise, with more people turning to these loans to cover essentials. A recent survey shed light on this issue, revealing that nearly half of the respondents ...
A major shift is happening in the world of payments. JPMorgan Chase is teaming up with Affirm, a fintech lender. This partnership will allow merchants using JPMorgan's payment system to offer Affirm's installment loan services. In simple terms, shoppers will have another way to pay for their purchases. They can choose to pay over time, with loan periods ranging from...
In 2010, a programmer who was mining Bitcoin made a huge blunder. He spent 10, 000 bitcoin on two pizzas. Today, those bitcoins would be worth a staggering 850 million dollars. This is an extreme example of how costly a small mistake can be. Now, a new trend is raising eyebrows. It involves adding interest payments to fast-food orders. This trend started with a partn...
Affirm Holdings, a popular buy now, pay later company, just scored a massive deal. Private credit firm Sixth Street is investing $4 billion over the next three years to help Affirm make more loans. These loans are typically for four to six months, and the deal could lead to over $20 billion in loans over time. This is good news for Affirm, as it means more people can...