People are turning to BNPL loans to pay for rent, food and other necessities
September 2, 2026 / 5:05 PM EDT / CBS News
TL;DR
- BNPL loans, initially for non-essentials, are now used for rent, groceries, and medical costs.
- Consumer advocates warn that using BNPL for necessities is risky due to obscured costs and potential fees.
- The increased use of BNPL for essentials reflects widespread financial struggles due to high inflation and living costs.
- BNPL loans allow consumers to split payments, often without interest, and are easily accessible without credit checks.
- A significant portion of BNPL users report they wouldn't be able to make ends meet without these loans.
- BNPL products can lead to deeper debt through multiple loans, hidden fees, and overdrafts.
- Companies like Affirm and Flex offer BNPL options for rent and bills, sometimes with membership or processing fees.