Do you know that the credit card debt of an average millennial in the US is over $4,000? One of the biggest disadvantages of a credit card is its double-digit interest rate. Credit card may not be your best option but what would you do when you are in dire need of money? Cash Now Pay Later (CNPL) is the answer.
Here are the five situations when Cash Now Pay Later can come in handy:
- To buy essentials like groceries, gas, baby diapers etc.
- To pay bills
- To pay for emergency expenses like medical bills
- To pay late fees
- To repay loans