The way your credit score is calculated is about to change — and as many as 91.5 million Americans will be impacted

Core Insights - The Buy Now, Pay Later (BNPL) services are becoming a popular payment option among Americans, with 86% expressing trust in BNPL compared to credit cards [2] - A significant concern among BNPL users is the potential impact on their credit scores, as credit agencies are starting to incorporate BNPL payment history into their scoring models [2][3] User Demographics and Trends - Approximately 30% of Americans have utilized BNPL services, with usage projected to rise from 49.2 million in 2021 to 86.5 million in 2024, and further to 91.5 million by 2025 [3] - The average BNPL loan amount is around $135, but many users face challenges in managing multiple loans, leading to late payments [4] Credit Scoring Implications - FICO has announced plans to include BNPL data in its credit scoring models, which may negatively affect users' credit scores due to late payments [3][5] - The incorporation of BNPL activity into credit scores emphasizes the importance of responsible usage among consumers [5]