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Because travel can be pricey, using BNPL when booking a vacation is tempting but should you?
GOBankingRates spoke to financial experts about the pros and cons of using BNPL topay for your next trip.
Its useful for locking in early deals or handling last-minute travel needs.
Using BNPL to book travel can also free up money you need for more pressing budget items.
BNPL can lead tooverspending and unnecessary debt, Latham said.
Missed payments may result in hefty fees or hurt your credit score.
Additionally, rigid terms can make it difficult to adjust or cancel your plans without penalties.
But it can also harm your finances if you cant afford to keep up with payments.
Use BNPL sparingly and only if youre confident in managing the payments without stretching your budget, Latham said.
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