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shopping10h ago
How to avoid the pitfalls of financing your holiday shopping
- Experts warn deferred-interest financing can cost you all interest if a payment is late, a key risk in holiday buys.
- BNPL loans are booming but penalties can erase the benefit if payments are missed.
- Store credit cards can carry nearly 30% interest, a critical factor for budget-minded shoppers.
- Authorities advise budgeting before shopping to curb impulse purchases during the holidays.
- About half of shoppers prefer BNPL or deferred-interest financing over traditional cards.
- Missing a payment can ruin a planned deal, leading to costly penalties for many consumers.
- Shoppers face a trade-off between deals and potential debt that lingers post-holiday.
- The report emphasizes vigilance against deceptive financing pitches at checkout.
- Shoppers are urged to track what they buy, how much they spend, and how they’ll pay.
- The investigation compiles expert warnings and consumer data to guide safer holiday financing.
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