Credit cards have been a boon. A saviour completely!
Romina recalls her early college days when lack of cash meant curbing her desires. But now, with a credit card at her disposal, she is free to buy whatever her heart wants. And converting them into easy repayable instalments is the best thing to happen. Earlier credit cards were offered only by banks, but e-commerce companies and even fintech players have entered this lucrative space. As a result, Buy Now Pay Later (BNPL) is an option available for all kinds of your shopping needs, even upskilling courses.
Buy Now Pay Later (BNPL) or Credit Card – Which is better?
Well, it depends on how you use it. In this article, we will discuss both these modes of payment, their advantages and disadvantages to help you choose the right one for you!
Let us understand first what each offers:
- Buy Now Pay Later is an excellent alternative for students who work part-time, do small jobs, or depend on pocket money from their parents.
- Credit cards offer bonuses such as cashback rewards on purchases, which means you get money back when shopping at specific stores that offer these benefits through their loyalty programmes.
Things to Keep in Mind while Choosing Buy Now Pay Later for Upskilling
Before you opt for Buy Now Pay Later for your upskilling courses, make sure you have the following:
- You need to finalize your upskilling course. If you don’t use it and can’t find a replacement course to help you achieve your goals, this may not be worth your time and money.
- You have time to complete the course. If you have too many activities competing for your attention, it’s hard to learn something new without losing sight of what matters most – self-improvement.
- You have enough money available (or saved) so that paying off debt after completing the course won’t bankrupt you or the people around you!
- The Buy Now Pay Later option is suitable for those who cannot afford the course upfront or want to avoid using their credit card and pay a high-interest rate.
Upskilling yourself is important but choosing the right mode of payment is also crucial. BNPL is a great option for those who want to buy something but don’t have the money. On the other hand, for those who are not sure if they need the item or not, this would be a good option as well because at least you’ll get your product without having to pay extra for it. This works better even if you’ve got low credit scores because there’s less risk involved!
