Best Buy Now, Pay Later Apps Of 2024 (2024)

Kiah TreeceLoans Writer

Kiah Treece is a small business owner and personal finance expert with experience in loans, business and personal finance, insurance and real estate. Her focus is on demystifying debt to help individuals and business owners take control of their fina...

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Kiah TreeceLoans Writer

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Kiah Treece

Kiah TreeceLoans Writer

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Kiah TreeceLoans Writer

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Loans Writer

Jordan TarverLead Editor, Mortgages & Loans

Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial publications such as Forbes Advisor. He blends knowledge from his bachelor's degree in business finance, his experience as a top perf...

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Jordan TarverLead Editor, Mortgages & Loans

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Jordan Tarver

Jordan TarverLead Editor, Mortgages & Loans

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Jordan TarverLead Editor, Mortgages & Loans

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Reviewed

|Lead Editor, Mortgages & Loans

& 1 other

Updated: Aug 30, 2024, 8:50am

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Buy now, pay later (BNPL) apps can help consumers finance everyday purchases like clothing, gifts and home decor without extensive applications and high interest rates. These apps allow users to purchase items immediately while paying in installments instead of making one full payment upfront. This can make budgeting easier by allowing consumers to spread out their payments over time while still getting access to their desired items immediately.

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Best Buy Now, Pay Later Apps 2024

Best Overall BNPL App

Klarna

4.5

Our star ratings are based on a range of criteria and are determined solely by our editorial team. See our methodology for more information.

Interest rates

0% to 29.99%

Credit limit

Varies

Fees

Late fees up to $35

0% to 29.99%

Varies

Late fees up to $35

Editor's Take

Klarna stands out among BNPL apps because of its no-interest financing and accessible qualification requirements. The app is also widely available, making it a flexible option for a range of purchases.

Pros & Cons

Offers no-interest financing
Limited qualification requirements
Available with several top retailers

Late fees
Small loan amounts
Does not report payments to credit bureaus

Extra Details

Klarna is one of the most well-known BNPL apps and is available through numerous top retailers. The company imposes less robust qualification requirements than some financing alternatives, and borrowers can choose from three repayment options, which is more than available with most BNPL apps.

Borrowers can choose from Pay in 4 (four interest-free payments every two weeks), Pay in 30 days and monthly financing up to 36 months. The four- and 30-day financing options charge no interest or fees, with the exception of late fees. However, monthly financing charges interest that may extend above 20%. Pay in 4 doesn’t require a hard credit inquiry.

As with other BNPL apps, keep in mind that Klarna can encourage consumers to buy more than they can afford to pay off—and may lead to a cycle of borrowing.

Best for No Credit Check

Splitit

4.5

Our star ratings are based on a range of criteria and are determined solely by our editorial team. See our methodology for more information.

Interest

None

Credit limit

Varies

Fees

None

Best for Large Purchases

Affirm

4.0

Our star ratings are based on a range of criteria and are determined solely by our editorial team. See our methodology for more information.

Interest rates

0% or 10% to 36%

Credit limit

$50 to $25,000

Fees

None

0% or 10% to 36%

$50 to $25,000

None

Editor's Take

Affirm offers high financing limits and is available at a wide range of retailers, which makes the platform a convenient option for large purchases.

Pros & Cons

No-fee and zero-interest loans available
Widespread availability
May report to credit bureaus

Some payment plans involve interest
No way to reschedule payments
No customer service phone number

Extra Details

Affirm is another popular and well-known BNPL app available at thousands of online and in-store retailers. Borrowing limits range from $50 to $25,000, making it a good option for large purchases. The platform offers prequalification without a hard credit check, and borrowers can choose from two payment plans: Pay in 4 or monthly payments.

The Pay in 4 option doesn’t charge any interest or fees, and Affirm doesn’t require a hard credit inquiry for qualification. The platform doesn’t charge any hidden fees under the monthly payment structure. However, annual percentage rates (APRs) may be 0% or between 10% and 36%, based on borrower creditworthiness. Borrowers can also request a virtual card through the Affirm app—increasing flexibility and streamlining the borrowing process.

Best for Small Purchases

PayPal Pay in 4

3.5

Our star ratings are based on a range of criteria and are determined solely by our editorial team. See our methodology for more information.

Interest rates

None

Credit limit

$1,500 ($10,000 with Pay Monthly)

Fees

None

$1,500 ($10,000 with Pay Monthly)

None

Editor's Take

PayPal Pay in 4 helps consumers finance purchases starting at just $30 and up to $1,500 with no late fees.

Pros & Cons

No late fees
Offers two payment structures
Available with top brands

Purchases limited to $1,500
Pay monthly option has APRs up to 29.99%
Only available for online shopping

Extra Details

PayPal Pay in 4 lets shoppers finance purchases as small as $30. Financing amounts are limited to $1,500, but consumers can shop with a wide selection of brands. Borrowers get to split their purchases into four interest-free installments, including one down payment and bi-weekly payments with zero late fees.

PayPal also offers a monthly payment option with six-, 12- or 24-month payment plans with $0 down. The financing amounts for monthly payments are higher—$199 to $10,000—and APRs range from 0% to 29.99%. Customers also benefit from PayPal’s standard purchase protection.

Best for First-time BNPL Shoppers

Afterpay

3.5

Our star ratings are based on a range of criteria and are determined solely by our editorial team. See our methodology for more information.

Interest rates

None

Credit limit

Varies

Fees

Up to 25% of the order value

None

Varies

Up to 25% of the order value

Editor's Take

Afterpay offers several features that make it easier for first-time BNPL shoppers to make smart financing decisions.

Pros & Cons

No interest on purchases
Only requires soft credit check
Offers online and in-store financing

Charges late fees
Limited financing options
Doesn’t help consumers build credit

Extra Details

Afterpay offers convenient financing at a large selection of online and in-store retailers. An application process and soft credit check are required, but borrowers don’t have to undergo a hard credit inquiry to qualify. This ease of use makes Afterpay suitable for shoppers using a BNPL app for the first time.

What’s more, Afterpay puts several safeguards in place to protect consumers from overspending—including notifications for missed payments. The platform also doesn’t report late payments to credit bureaus. As with many other top BNPL apps, Afterpay does not charge any interest on purchases, though borrowers may incur late fees.

Summary: Best Buy Now, Pay Later Apps

Tips to Compare Buy Now, Pay Later Apps

When it comes to BNPL services, it’s essential to compare the features and benefits of each app or service. Here are some tips for comparing BNPL apps:

Check fees. Many BNPL apps charge fees, such as late fees or interest rates. Be sure to read through the terms and conditions of each app carefully so you know exactly what you’re getting into.
Read user reviews. Before signing up for a BNPL service, be sure to read user reviews and feedback from others who have used the app in the past. This will help give you an idea of how reliable the app is and how satisfied customers are with their service.
Consider your needs. Each BNPL service has its own unique features and benefits that may or may not fit your needs—including financing limits. Be sure to carefully consider the features of each app before signing up, so you know you’re getting the best deal.
Compare payment plans. Many BNPL services offer different payment plans to suit different budgets and lifestyles. Be sure to compare the payment plans of each app so you can choose the one that fits your financial situation best.

What Is Buy Now, Pay Later?

Buy now, pay later is a type of payment service that allows consumers to purchase items and then pay for them in increments over time. This type of service usually offers more affordable payments than traditional credit cards or personal loans, making it a popular choice for those who want to shop without having to worry about high interest rates.

Some BNPL services also offer promotional codes and discounts that can help you save even more money on your purchases.

How Does Buy Now, Pay Later Work?

When you sign up for a BNPL service, you’ll be asked to provide your payment details. Once approved, you can start making purchases right away, and the platform will spread out the cost of the items over several payments. Depending on the BNPL service you use, you may have to make weekly, bi-weekly or monthly payments until the balance is paid off.

It’s important to note that some BNPL services may require a credit check before approving your application. Be sure to read through all of the terms and conditions before signing up so you know what’s expected of you.

When Should You Use Buy Now, Pay Later?

Ideally, you should only use BNPL apps in emergencies and to cover necessary expenses. This is because these apps may come with high interest rates and fees, and they can lead to a habit of overspending. What’s more, many BNPL apps don’t report payments to the three main credit bureaus, making it difficult for borrowers to build their credit.

That said, low-credit borrowers without the cash to make a necessary or emergency purchase can benefit from this form of financing. Qualified consumers should also consider an alternative like a 0% APR credit card with more substantial consumer protections than buy now, pay later apps.

Methodology

We reviewed eight popular BNPL providers based on 11 data points in the categories of loan details, loan costs, perks, customer experience and accessibility. We chose the best lenders based on the weighting assigned to each category:

Loan cost: 30%
Loan details: 25%
Accessibility: 20%
Perks: 15%
Customer experience: 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, interest and applicable fees. We evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process.

Where appropriate, we awarded partial points depending on how well a lender met each criterion.

To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our .

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