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Get Those Exclusive Things For Kids At Buy Now Pay Later Stores And Split Payments Conveniently

Get Those Exclusive Things For Kids At Buy Now Pay Later Stores And Split Payments Conveniently

The cute options of clothing and other items will definitely make them feel spoiled for choice. But as people say, ‘you get what you pay for.’ Thus paying upfront for the item you choose may scare you away from buying your children the best you want them to have. It is here that buy now pay later stores come to your assistance. They let you shop for kids without paying upfront. And you can pay for the item in installments spread out over four to five weeks. But to get the most from such offers, you need to do the following:

  1. Go for a larger size

Children grow fast. And if yours is a big-boned child, go for a larger size. Doing this will help you avoid shopping within a short interval. When buying pants, go for the one with an elastic band that gets adjusted.  

  1. Buy from your locality

When trying to shop for kids, explore local buy now pay later stores. This way, you will have a feeling that you have supported a small-scale fashion designer. Shipping the item is more harmful to the environment than biking or driving to your favorite store. Still, such stores offer personalized customer service. And it will happily go the extra mile required to please you. The Internet abounds in directories that list the websites of independent retailers from whom you can make such purchases.

  1. Be mindful of the store you choose

If you plan to use the split payments facility through a BNPL store, be mindful of the retailer you choose. Ensure that it is registered with RBI. You should also be mindful of the limit of loans fintech companies can offer. It is restricted to INR60000 at present.

  1. Borrow with discretion

The interest-free window may prompt you to borrow more. But know that a BNPL scheme is like any other loan. If you fail to repay the amount within the interest-free period, you will have to pay the interest. And that is going to be exorbitant. And defaulting will add up to it and may take you into a debt trap. Spend reliably and set up an automated repayment mechanism. You will stay safe from such traps.

  1. Master the art of mixing and matching

If you want to get maximum value for your money, you should learn to mix the branded attire with its local version. Buy expensive branded clothes long with their more affordable local versions. All it requires is an understanding of what you need and what you can get in the market.

  1. Go for flexibility

The buy now pay later store should let you use its facility offline and online. It is perceived as a sign of a reliable BNPL store.

You should also consider the rate of interest and the repayment charges. Be aware of all the charges you may incur when defaulting.

  1. Look for discounts and rewards

Certain buy now pay later stores to offer additional discounts and rewards. Sign up for the one that offers you such bonuses.

  1. See to it that it does not affect your credit limit

The ability to defer payment is an exciting offer. And a BNPL lender does not even do a hard query on your credit card. But if you default, the lender may report it to credit bureaus. And your credit score may nose-dive. Making sure of timely loan repayment is the only way out.

If you are a reliable borrower, buying from buy now pay later stores offer you the following benefits:

  • Helps you build a credit history. This will increase your likelihood of availing of a loan in the future.
  • Offers you a seamless shopping experience: Most of the lenders offering BNPL facilities take care to offer a seamless experience to their customers. And their mobile apps are designed so that you can avail of the loan on the go. Setting up an account here is a breeze. And with minimal documentation, you avail your loan within a few hours of applying for it.
  • No credit history required: BNPL lenders generally understand that an average household may not have a credit history. And they let you borrow without having to worry about their CIBIL score.
  • They offer the try before you buy facility: This is one of the reasons why buy now pay later schemes enjoy this immense popularity. For instance, you may buy multiple items. And you can return the item that does not fulfill your requirements.

Shop for kids from buy now pay later stores. You will get the best without draining your wallet. A BNPL scheme is the financial safety net responsible borrowers cannot afford to ignore.

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