Buckle up, folks, because your impulse buy of glittery sneakers via buy-now, pay-later apps might just tank the economy! These microloan apps, like Klarna and Afterpay, let you snag that must-have junk instantly, but with FICO now eyeing your BNPL spree, your credit score might take a nosedive faster than a bad TikTok trend. Economists warn of a debt spiral as low-income folks stack loans for groceries, pushing late payments and inflation skyward. It’s like borrowing to buy a $5 latte—except now it’s your whole financial future on the line!
Microloan Apps May Be Poised to Destroy the Economy
