With many big online and high street names offering customers greater flexibility Buy now Pay Later is growing in popularity. Currys, Ikea, Very.co.uk and many others engage consumers with offers of slicing their bills and delaying payments.

What is Buy Now Pay Later?

Buy now pay later is a finance option that allows you to make purchases either by splitting them into monthly payments and/or delaying the payments to a later date.

Does Buy Now Pay Later have interest?

Some providers have interest bearing BNPL options so it’s important to find out before applying, however this will often be made clear to you beforehand. Other providers, such as Bumper for car repairs, is interest free and won’t charge you extra for splitting your bill.

Why is Buy Now Pay Later becoming more popular?

For online shoppers using sites such as Pretty Little Thing, Missguided and ASOS BNPL allows customers to purchase more items and return clothes before payments are made. Retailers offering BNPL on larger items, for example washing machines at Currys or a large service bill at Audi, allows customers to split often unexpected bills into affordable monthly payments.

Will using Buy Now Pay Later affect my credit score?

As some BNPL options require a credit check it can be used as a way to boost your credit score. Regular on-time payments are reported back to the credit reference agency and can be looked upon as favourable by lenders in the future. For advice and to see your credit score you should consult a credit reference agency such as Experian.

Bumper is an interest free solution for car repairs and services that is customer centric and responsible. To get your Credit Limit and find participating garages and dealerships clickhere.