How does Buy-Now-Pay-Later differ from Credit Cards? Find out Here.
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Buy-Now-Pay-Later (BNPL) and credit cards offer the same thing – credit. You can buy on credit and pay later. But are they the same? Not at all! Here’s how.
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BNPL does not offer physical cards. Credit cards do – while offering digital cards and UPI linking options for the user’s benefit.
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Most credit cards have eligibility criteria. Individuals meeting the criteria can get the card. BNPL has no such requirements.
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Credit cards offer reward points. BNPL does not. You can earn, accumulate, and exchange points for merchandise, vouchers, and cashback.
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Plus, credit cards offer discounts on purchases, lounge access, premium memberships, etc. BNPL might only offer cashback.
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Credit cards have higher credit limits than BNPL. You can also convert credit card bills into EMIs. BNPL does not have this facility.
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Many credit cards are also accepted internationally making overseas transactions easy. BNPL is usually accepted only locally.
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Enjoy rewards and benefits beyond BNPL options with IDFC FIRST Bank Credit Cards. Ready to get #MoreFromYourBank?