Experian and Equifax to Add BNPL Plans to Credit Files

Experian confirmed that it is working with BNPL providers to include the agreements in its credit reports from “later this year.” 

James Jones, head of consumer affairs at Experian, said: “Like any form of credit, if you manage BNPL responsibly it can provide a helpful way of spreading the cost of products and services – if you don’t borrow more than you can afford to repay and you do meet any agreed payments on time and in full.”

“Like other credit, missed payments could result in extra charges and could, in time, affect your creditworthiness in the eyes of other lenders,” he added.