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Klarna Launches New BNPL Debit Card That Lets You Finance on the Fly - but There's a Catch

Klarna, a buy now, pay later (BNPL) service, has introduced a new Visa debit card in the U.S. that allows users to finance purchases on the fly, combining the flexibility of BNPL with the convenience of a debit card. The card, which does not require a credit check, enables users to split purchases into four interest-free payments over six weeks or opt for longer-term financing with interest rates up to 29.99%. However, there's a catch: the card can only be used for online and in-app purchases, limiting its utility for in-store transactions. Additionally, while the card aims to help users manage their finances better, the ease of accessing credit could potentially lead to overspending and debt accumulation if not managed responsibly.

Read the Full CNET Article at:
[ https://www.cnet.com/personal-finance/klarna-launches-new-bnpl-debit-card-that-lets-you-finance-on-the-fly-but-theres-a-catch/ ]