72% of Americans saw credit scores drop after missing a ‘buy now, pay later’ (BNPL) payment, per a Credit Karma survey Dec 2020, which was before BNPL got red hot

A little over 40% of Americans have used a “buy now, pay later” service like Afterpay or Klarna. While 62% say they have never missed a payment, 38% report they have fallen behind on payments at least once. And, almost three-quarters of people with a late payment say they have seen their credit scores drop.

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– 72% of Americans saw credit scores drop after missing a ‘buy now, pay later’ (BNPL) payment, per a Credit Karma survey Dec 2020, which was before BNPL got red hot