Credit has instant appeal

THE option to "buy now, pay later" seems to be everywhere, and it is inevitably tempting with money so tight at the moment.

- Harvey Jones

Providers such as Klarna and Clearpay have mostly targeted younger consumers but more older shoppers are now using BNPL, too.

With big names like PayPal and Apple involved, and Amazon running its instalments tie-up with Barclays, BNPL is becoming ubiquitous.

It offers an affordable way to buy what you want today and pay for it over a typical term of three months. Usually, you do not have to pay any interest, provided you borrowings in full and on time clear your It's easier to get approved for BNPL finance than a traditional credit card.

As it may be a bit too easy, you must understand the potential risks.