The COVID-19 pandemic has made Australians nervous about their finances. Just as conspiracy theories about COVID-19 are doing the rounds on the internet, there are plenty of myths about how the pandemic might hurt your credit score.
Buy now pay later (BNPL) services such as Afterpay and ZipPay have shown no signs of slowing down. Online purchases have boomed as COVID-19 has transformed our shopping habits, including how much we spend, what we buy, and how we buy it.
According to CreditSmart figures, a huge 14.9 million Australians have some sort of credit product - and just over one in 10 are using Buy Now Pay Later services.