BNPL may damage your credit rating, but not SPT?, page-5

I would thinking using other BNPL service, actually hits the users credit file for an enquiry, and we all know that too many enquiries would impact the credit rating adversely.

soon enough the regulator would want BNPL companies to report their clients’ default activities to credit collection agencies, which would have further damage ones credit score once they have late payments etc.

One other thing is, in terms of borrowing capacity, banks would soon be ooking into BNPL expenses and factor those in, whilst SPT leverages off the existing credit card limit with no new credit limit like others, I think would put SPT ahead of others.

My 2cents