Cash Now Pay Later (CNPL) apps give you fast and easy access to money when you need it the most. It gives you access to fast cash without any credit checks. You can pay back the money in installments when you have it and without any interest. It doesn’t lead you into a debt trap.
When you should use Cash Now Pay Later
According to credit bureau Experian’s latest findings, the credit card debt of an average millennial is over $4,000. One of the biggest disadvantages of a credit card is its double-digit interest rate. A 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 is the answer.
Cash Now Pay Later apps like Beem offers fast cash without credit history checks. The money you receive is interest-free and it doesn’t impact your credit score. You can return the money when you have it. There is no catch or any hidden charges. Read on to know about the five situations where you can use this option.
To buy essentials
Active working professionals with fluctuating incomes find it hard to pay for essentials like groceries, gas, medication, baby diapers etc. Cash Now Pay Later helps them afford these daily needs in times of uncertainty.
To meet emergency expenses
When you’re in an emergency situation, you don’t have the time to go through a lengthy application process of getting some extra cash. Cash Now Pay Later can help you during emergencies because you get your line of money immediately. At Beem, all you have to do is follow these six simple steps:
- Download Beem app from the Apple or Android app store and sign up online.
- Answer a few basic questions and share your email address.
- You’ll be required to link your employment data, bank data, SSN and address.
- Review your qualification and membership plans available to you.
- Pay with your primary debit card upfront to start your membership.
- Once you qualify, you can apply and access your Cash Now Pay Later with Beem.
To pay your bills
Whether your income is steady or not, recurring bills like utility and rent will keep coming in. When you are short on cash supply, Cash Now Pay Later comes to your rescue. Beem allows you to download up to $1,000 when you need it the most. The monthly subscription starts for as low as $2.47/month.
To pay late fees
If you have already missed your bill payments, you will be charged a late fee. You can pay that extra cost by using Cash Now Pay Later apps like Beem. You can upload the money when you get paid next. Beem helps you get your finances in line with your budget. You can also get personalized alerts to protect you from overdrafts and NSF fees while keeping you ahead of bills and balance.
To repay loans
If you are under debt and your paycheck won’t be arriving soon, you can avail Cash Now Pay Later to pay your loan installments. This will help you avoid the late payment fee and your credit score won’t get hurt.
Conclusion
Cash Now Pay Later comes in handy when you need money the most. No credit checks and no interest benefits will help you keep your head above the water.
