“Buy now, pay later” plans have become very popular among customers who want to pay with credit without having to incur interest rates. Plus, “buy now, pay later” plans are easy to apply for and a convenient way to pay. However, like with any payment method, customers can make certain mistakes regarding “buy now, pay later” that can land them in financial trouble. Here are a few such mistakes that individuals should avoid. 1. Forgetting or missing payments When dealing with loans or debts of any form, keeping track of their payment due dates is extremely important. The same goes for “buy now, pay later” plans. If one forgets to pay before the due date, they must bear late payment fees or penalties. Plus, missing payments will impact their credit score. Moreover, one must be extra careful about the payment deadlines of “buy now, pay later” plans. Unlike most common forms of credit, like loans and credit cards, “buy now, pay later” plans have a weekly or biweekly payment cycle. So, if one is accustomed to checking their outstanding payments every month, they may miss their BNPL payment deadlines. 2. Ignoring the added charges Unlike credit cards, “buy now, pay later” plans do not have interest rates on them.