"The truth is, you simply have substituted one credit facility...

"The truth is, you simply have substituted one credit facility for another, your real issue was serviceability under stress. Not Afterpay in and of itself."


@pastperformer I couldn't agree more with a statement like this. I have had so many arguments with people who claim afterpay is getting people into debt. I always use the same response .. that being that at least with APT you don't pay interest. So, if someone uses afterpay to buy something for like $500, they're technically getting into less [potential] debt than had they purchased it via a credit card. People don't fall into the interest trap with afterpay. They get a late fee of what like $70 or something (??) and then after that they just get cut off from using the platform. whereas, with a credit card, the bank will still let you spend up to your limit, even after the interest free period. and once you're at the limit, they will just keep charging you interest every day until you pay it off. This is where people really get stuck, when they can't afford to pay off anything other than the interest payments on their maxed out credit card. This situation simply CAN NOT happen with afterpay. Yet, everyone is saying afterpay is the bad guy....