Klarna, the buy-now-pay-later company, is out with a different kind of card.
from the buy now, pay later company Klarna shows that it's possible to build a credit card that isn't designed to trap users in a so-called
Provide simple-interest payment-plan options for anything that can't be paid for in full, where the full purchase ends up being paid off within a few months.Klarna's new card is the first-everWith the Klarna card, at the end of every month, every purchase has to be either paid off in full or converted into an installment loan.
The installment payments appear on the card statements — but they can't be refinanced. If it's an installment payment then it has to be paid in full.Klarna claims that only 4% of its BNPL users pay late fees, compared to 23% of credit card users.
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