Conveniently Pay Bills Later with Buy Now, Pay Later Apps

It can be annoying to pay your bills when your paycheck hasn’t arrived yet. Lucky for us, there are now a number of simple ways to shop online and pay for things later. You have more control over your money when you use these “pay later” apps and services.

What is Bill Pay Me Later?

Bill pay me later services allow you to delay payment on purchases you make today. They split the total cost into several smaller payments over a period of weeks or months. This gives you more time to pay without owing interest like you would with a credit card.

Pay later services are offered directly through many major retailers online Or you can use third-party apps and platforms like Affirm, Afterpay, Klarna, PayPal Credit, and others. These can be used at thousands of stores online and in-person

How Bill Pay Me Later Plans Work

There are a few common types of pay later plans:

• Pay in 4 – Your purchase is split into 4 equal installments, usually due every 2 weeks. This is the most common plan.

• Pay in 30 – You have 30 days to pay the full amount. No installments

• Monthly payments – 6, 12, or 24 monthly payments. Better for larger purchases.

Nearly all pay later services charge 0% interest if you pay on time. And there are no hidden fees as long as you don’t miss payments. This makes these plans an affordable alternative to credit cards for managing expenses.

To use pay later, you’ll need to be approved. Usually, this only takes a short time and doesn’t hurt your credit score. You should be able to get a loan from most lenders if your credit is good enough.

Top 7 Pay Later Apps and Services

Here are 7 of the most popular and reputable pay me later solutions:

1. PayPal Credit

This service from PayPal offers 6 months of special financing on purchases $99 or more when you check out with PayPal. No money down and no interest if paid in full within 6 months.

PayPal Credit can be used at thousands of online stores that accept PayPal, like eBay, Etsy, Wayfair, and more. There’s also a PayPal Credit Card you can apply for to use anywhere that accepts Mastercard.

2. Afterpay

Afterpay is accepted at major retailers like Urban Outfitters, Forever 21, DSW, and more. You pay 1/4 of the total upfront, then the remainder in 3 installments every 2 weeks.

They also offer monthly payment plans at select merchants. Afterpay charges no interest ever and is completely free when paid on time.

3. Affirm

Affirm offers biweekly and monthly payment plans from 3 to 24 months. Interest ranges from 0-30% based on your credit.

You’ll see Affirm at checkout when shopping popular sites like Walmart, Target, and Expedia. Affirm does not charge any late fees.

4. Klarna

Klarna gives you the option to pay in 4 interest-free installments due every 2 weeks. Or pay the full amount within 30 days.

They partner with stores like Sephora, Macys, IKEA, and more. Klarna may charge a late fee of $7 if you miss a payment.

5. Sezzle

Sezzle lets you split purchases into 4 payments over 6 weeks. It’s free when you pay on time, with no interest.

Use Sezzle at Target, CVS, Best Buy and thousands more stores online. You’ll just need to download their app. Late fees can be up to $15.

6. Quadpay

Quadpay breaks up purchases into 4 payments due once every 2 weeks. There are no setup fees, interest, or hidden costs.

You can use Quadpay anywhere Visa debit cards are accepted. Just sign up through their app. Missed payments incur a $7 fee.

7. Splitit

With Splitit, you can split store purchases into monthly payments with any major credit card. There are no applications, registration is instant.

You can use Splitit at thousands of online stores including Amazon, Walmart, and Best Buy. The only fee is a processing fee up to 1.5% of the purchase price.

When Should You Use Pay Later Services?

Pay me later can be helpful in certain situations like:

• Spreading out payments for a large, important purchase
• Managing expenses between paychecks
• Making ends meet before payday
• Building credit history with on-time payments

However, you’ll want to use caution and not over-rely on pay later plans. They can encourage overspending since you don’t pay the full amount upfront. And if you use multiple plans at once, it can be hard to keep track of repayment deadlines.

Pay later is also not the best for non-essential, impulse purchases. For those, try saving up instead of going into debt.

Tips for Using Pay Me Later Responsibly

If you do use pay later apps and services, be sure to:

• Only use for planned, budgeted purchases
• Pay off the full balance by the due date
• Avoid late fees by setting payment reminders
• Make payments from a bank account to ensure sufficient funds
• Monitor your accounts closely to avoid missed payments
• Don’t take out multiple plans at the same time
• Check terms for any fees besides late fees

The Bottom Line

Bill pay me later services allow you to conveniently split payments over time with little to no interest. Leading options like PayPal Credit, Afterpay, Affirm, Klarna, and Sezzle make it easy to manage expenses and pay bills on your own schedule.

Just be sure to only use these services responsibly, stay organized, and pay off balances in full. Pay later plans can provide helpful flexibility in your finances, as long as you use them selectively for purchases that fit your budget.