Buy now, pay later, pay later? So it could help soon or violate your credit.

Buy now, pay later has become a popular way to pay for everything, from large purchases to food and food and Even to take awayBut it could soon affect your creditworthiness.

More than half of the American consumers report that he would pay at least once after buying purchase, and many said that they prefer credit cards, according to a recent study by Ascent.

Buy now, pay later to be recorded in credit scores

With these loans, consumers can divide payments into smaller installments that spread over time. According to the Consumer Financial Protection Bureau, the most common purchase purchase loans are “Payment in four” products.

Buy now, pay later loans have usually been left behind from credit reports, but that will change in a large way.

The three large US credit offices – Experian, Equifax and Transunion – have all announced that they will now involve the purchase and pay later loans when calculating their creditworthiness.

Transunion said it was working with FICO to buy purchase now and to pay later data into its calculations.

These credit services can also help your creditworthiness

Credit centers argue that it will provide a more precise picture of the financial health of a consumer. But whether it will help you or is hurt depends on the financial columnist -Marks.

“The more examples you can give a loan agency that you can manage your debts well, the more positive effects you have on your creditworthiness,” said Marks.

Marks added that it also offers people the opportunity to build credit that otherwise have no access to traditional credit lines.

“But at the same time you have to make sure that you pay it back within time,” said Marks. “Otherwise you will really be punished and not only from the purchase, but also by the later services, but also from the creditworthiness that you take a closer look.”

Buy now, pay later among the Americans under the age of 44 grows

Just how and when the credit reports include this data remains unclear. According to Marks, a challenge for the loan offices will determine how the short -term purchase is now taken into account and can pay later loans if the duration of the credit story is a significant share of their creditworthiness.

So far, Affirm is the only big purchase that later pays a later company that reports on one of the three loan offices. But at least for the time being, Experian and Transunion say that information remains separated from your core credit data.

The use of purchase now has grown considerably for young people under the age of 44. Lending Tree has just noted that a quarter of the purchase are now being used for the payment of everyday basics such as food to pay everyday land.

Buy critics from now, pay later services have warned that some exorbitant interest and large fees can collect if they miss a payment. In contrast to credit cards, loans later lack loans to basic consumer protection.

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