‘Buy now, pay later’ may get you on vacation faster — but what travel perks do you give up for the sake of convenience?

Core Insights - The "buy now, pay later" (BNPL) trend is increasingly being adopted for vacation expenses, with over half of Americans using BNPL and nearly 20% planning to use it for holiday payments [1] Group 1: BNPL Overview - BNPL plans allow consumers to divide payments into installments, making large expenses like vacations more manageable [2] - Most basic "pay-in-four" BNPL plans do not require a hard credit check and charge no interest if payments are made on time, appealing to those seeking to manage short-term cash flow [3] Group 2: Risks and Downsides - Late fees are common in BNPL plans, with services like Afterpay charging up to $68 in late fees, while Klarna caps its fees at $7 [4] - Unlike credit cards, BNPL loans typically lack travel protections, insurance, or rewards points, which can be a disadvantage for consumers [4] - Longer-term BNPL loans may begin accruing interest immediately, making their terms potentially worse than credit cards, which usually do not accrue interest until after 30 days [5] - The ease of using BNPL can lead to debt stacking, where consumers accumulate multiple small debts quickly [5]