1 of 1
Story summary
- In the United Kingdom, borrowing now includes buy now, pay later (BNPL) with traditional loans and credit cards.
- Personal loans generally offer lower interest rates than credit cards, especially for larger amounts.
- Dan Kellett of Carmoola says BNPL is beneficial when repayments are manageable.
- Dan Kellett notes credit cards provide better protection for larger purchases.
- Experts recommend fixed repayment terms for significant loans to prevent debt and support timely repayments.
