This buy now, pay later gas trend has its perks, but there are also risks.
This past weekend, gas prices reached over $5 per gallon, making fueling up even more expensive. Gas prices have skyrocketed across the country ever since Russia’s invasion of Ukraine earlier this year. While gas credit cards can help you earn rewards to earn back some of the extra money you’re spending on fuel, high credit card interest rates can be less than appealing. Fuel now, pay later options can also help ease the initial sticker shock by letting you pay less up front — but it won’t decrease your overall gas bill.
Fuel now, pay later refers to buy now, pay later, or BNPL, apps that let you purchase gas now and pay your balance back in installments. While gassing up now and paying down the line may sound attractive, there are risks to consider. For instance, even though these options may help you better afford to fuel up while waiting on your next paycheck, you could incur fees if you’re unable to pay on time.
Here’s what you need to know about fuel now, pay later apps to decide if they’re right for you.
What are buy now, pay later apps for gas?
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