'Buy now, pay later' is more popular than ever. Experts warn shoppers not to overdo it

More shoppers are using ‘buy now, pay later’ plans heading into Black Friday and the holiday season, as the ability to spread out payments looks attractive at a time when Americans still feel the lingering effect of inflation and already have record-high credit card debt. Experts say the short-term loans can lead consumers to overextend themselves and warn that those who use credit cards for the service face higher interest expenses. The data firm Adobe Analytics predicts shoppers will spend 11.4% more this holiday season using buy now, pay later than they did a year ago.