• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

What Buy Now Pay Later methods do you use? Afterpay? Zip?

Discussion in 'Business, Investment and Economics' started by Zaxon, Apr 29, 2019.

Which Buy Now Pay Later accounts do you use?

Poll closed May 6, 2019.
  1. Afterpay

    7.1%
  2. Zip Pay

    0 vote(s)
    0.0%
  3. Zip Money

    0 vote(s)
    0.0%
  4. Splitit

    0 vote(s)
    0.0%
  5. Some other BNPL

    0 vote(s)
    0.0%
  6. I never use BNPL

    89.3%
  7. Credit Card (balance not fully paid each month)

    3.6%
Multiple votes are allowed.
  1. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    As an owner of BNPL shares, I'm interested in what percentage of ASF readers use installment payment accounts, and if you use one, are you typically likely to own a second BNPL method as well?
     
  2. So_Cynical

    So_Cynical The Contrarian Averager

    Posts:
    6,708
    Likes Received:
    283
    Joined:
    Aug 31, 2007
    I use a credit card.
     
    Knobby22 likes this.
  3. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    Oh yup. I've added that to the poll, but only where people carry over their balance.
     
  4. greggles

    greggles I'll be back!

    Posts:
    2,156
    Likes Received:
    846
    Joined:
    Jul 28, 2004
    I voted that I never use them but by that I mean that I haven't used them yet. It's possible that I may at some point but as yet I haven't needed or had the inclination to do so.
     
  5. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    Personally, I don't use BNPL. For a lot of Millennials and Gen Zs, it seems to be a part of their "culture". And I think for families that live paycheque-to-paycheque, some have no choice when it comes to big payments like dental bills.
     
  6. Sdajii

    Sdajii Sdaji

    Posts:
    1,221
    Likes Received:
    246
    Joined:
    Oct 13, 2009
    I've never bought anything I couldn't afford. Unless you need a car for work and you're just starting out, or you need a loan for a house (this is the big one which is understandable), or perhaps in some unusual situations, it just seems silly. To use it for luxuries is absurd.
     
  7. Cam019

    Cam019

    Posts:
    348
    Likes Received:
    224
    Joined:
    Aug 2, 2016
    Likewise. Balance is always paid before the interest free period is up. I never pay interest.
     
  8. StockyGuy

    StockyGuy Observe, Discuss, Apply

    Posts:
    68
    Likes Received:
    13
    Joined:
    Oct 15, 2007
    Haven't had to revolve credit card balance in MANY years, but important to have the option.

    Those young'uns often have mentally crippling HECS debts, so taking on bit more debt taken too lightly.

    ASF would be a shrewd lot on average, so BNPL probably less popular among us.
     
  9. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    Seems so. Firstly the "young'uns" probably have limited savings, if any. And as you say, don't appreciate the importance of clearing their debts. I think there's a certain amount of "I deserve it" (even if I can't afford it) going on. But I guess you get that in every generation.

    So far 100% of ASF pay up front. Perhaps the others are yet to vote.
     
    aus_trader likes this.
  10. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    First car and first house is completely understandable.
     
    qldfrog likes this.
  11. aus_trader

    aus_trader

    Posts:
    545
    Likes Received:
    236
    Joined:
    May 30, 2017
    I also use credit card option. Pay the balance each month, err pretty much every time, except holiday time ;). Other debt include home loan. Car is fully paid off :smuggrin: and shares are bought with savings, no margin.

    I've seen the Zip pay / Afterpay option at the checkout at many online purchases, but so far haven't used them personally:
    upload_2019-4-29_21-24-9.png
     
  12. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    The first time I came across them was a little while back when Kmart had great big Afterpay logos by their entrances. I had to ask what this "strange thing" was. Soon after, the world seems to have gone BNPL crazy. Except for ASF, where it appears to be against our religion.
     
    aus_trader likes this.
  13. Smurf1976

    Smurf1976

    Posts:
    8,690
    Likes Received:
    1,738
    Joined:
    Feb 14, 2005
    My thinking goes like this:

    ASF is a stock market forum.

    Anyone on a stock market forum presumably invests in shares or plans to do so in the near future.

    To be investing in shares requires that the individual has at least some money over and above that required to feed, clothe and shelter themselves.

    That being so, the demographic of this forum isn't one that's likely to need to split a $50 purchase over four installments due to not having access to $50 in one go.

    So I'd think that whatever answers members of ASF give isn't going to reflect the general community since whilst not outright mutually exclusive, the notion of investing in shares and needing to borrow money to buy a new toaster don't really go together. :2twocents
     
    Skate, Ann, qldfrog and 1 other person like this.
  14. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    I think you've made a very good point. While we're politically and personality diverse, it does make sense that if you're a part of ASF, you can probably cover your basic bills. So far the polling results support that.
     
    Skate and Smurf1976 like this.
  15. Value Collector

    Value Collector

    Posts:
    6,254
    Likes Received:
    815
    Joined:
    Jan 13, 2014
    Same
     
  16. Smurf1976

    Smurf1976

    Posts:
    8,690
    Likes Received:
    1,738
    Joined:
    Feb 14, 2005
    I use a credit card as a convenient method of payment, it avoids the hassle of messing about with cash, but since the balance is always paid off in full that's all it really is - a payment method.

    On the subject of cash - I've only used it on two occasions this year thus far so it's not quite extinct in my life but it's damn close. Pretty much everything I buy goes on the credit card apart from bills which I pay online. :2twocents
     
  17. So_Cynical

    So_Cynical The Contrarian Averager

    Posts:
    6,708
    Likes Received:
    283
    Joined:
    Aug 31, 2007
    I never use BNPL (14) Votes = 100.0%

    We are obviously not a bunch of hip millennial's.
     
  18. Zaxon

    Zaxon The voice of reason

    Posts:
    356
    Likes Received:
    225
    Joined:
    Aug 5, 2011
    I've always wondered why people do this. I use a debit card. Essentially acts like a credit card, but acts like EFTPOS on the back end. That sounds like how most ASF members use their credit card anyway if they pay it off in full each month, so why have a credit card in the first place?

    The only reasons I can think of are: 1) to get reward points of some sort, but then your card will probably have a yearly fee. Debit cards are fee free. Or 2) In case you need some emergency money like @aus_trader mentioned before, in which case a debit card won't suffice.
     
    Skate likes this.
  19. StockyGuy

    StockyGuy Observe, Discuss, Apply

    Posts:
    68
    Likes Received:
    13
    Joined:
    Oct 15, 2007
    Hmmm, other reasons for some include a few years ago Aus moved to that trashy US style of credit rating whereby exhibiting ability to pay off credit raises your credit score; and credit card transactions are supposed to be more secure.

    It's good policy to have a second card in the wallet in case of problem with the debit card.

    I have couple direct debits on credit card. It's good for seeing exactly what's coming out with DDs - when they're coming out of savings account it's easy to miss among the usual day to day stuff.
     
  20. aus_trader

    aus_trader

    Posts:
    545
    Likes Received:
    236
    Joined:
    May 30, 2017
    Yes true, credit card does give you the convenience of paying up-front especially if you are on an overseas holiday. That's usually the only time it can get worked up a bit but I usually pay it off in a couple of months once I return. Otherwise my balance is quite reasonable just paying the bills and for food and fuel that I pay it off in full at the end of the month.
     
Loading...

Share This Page