Caution urged over buy now, pay later Black Friday offers

Black Friday bargain-hunters should be wary of the flood of “buy now, pay later” offers at the checkout, money experts have warned, as record numbers of people seeking help with shopping debts.

- Rupert Jones

Billions of pounds will be spent over the coming weeks, with more than one in three Britons said to be planning to use this form of credit to help stagger their spending.

But debt organisations and charities say shoppers should think very carefully before succumbing to the temptation of clicking on the buy now, pay later (BNPL) button.

Citizens Advice said it was helping more people than ever before with BNPL-related problems. The charity added: “We urge people to take caution, especially if they are struggling with bills already.”

Meanwhile, Money Wellness, an organisation that provides free money and debt advice, said October had been a record month for people seeking help with BNPL debt, with another spike expected in January and February as festive spending feeds through.