The idea of consumers financing purchases is almost as old as retail itself.
The first store credit methods — they were often metal charge-plates or actual charge coins — appeared in the late 19th century, and since then we’ve evolved through layaway plans, charge accounts, and credit cards of every possible branding.
So Buy Now, Pay Later — better known as BNPL — is nothing new, but as the latest twist on providing credit for shoppers who might not be able to come up with the cash at the time of purchase, it’s become ever more popular.
A new survey from LendingTree found that nearly 40 percent of consumers said they had used BNPL for clothing, shoes, and accessories. That was the most commonly bought consumer product category using the process, beating out tech devices (34 percent) and groceries (29 percent).
More than half, or 54 percent, of BNPL users said they wouldn’t be able to make ends meet without these loans, according to LendingTree’s 2026 Buy Now, Pay Later Report. Among that group, 62 percent are parents with kids younger than 18, and 59 percent are millennials.
It's easy to see why using BNPL services is so attractive. Respondents to the survey said the top reason they chose BNPL over other loans were the ease of use (31 percent) and ease of obtaining (27 percent).
Not surprisingly, LendingTree’s report discovered that the delinquency rate on these loans is very troubling. Nearly half, or 47 percent, of users said they have paid late on a loan in the past year, and that percentage is growing, rising from 41 percent in 2025 and 34 percent in 2024. Only 38 percent of users said they had never been late paying off a BNPL loan.
One other telling BNPL statistic from this new survey: 54 percent of those surveyed say they have regretted a BNPL purchase, including 18 percent who regretted it more than once. That’s up from 48 percent last year.
Borrower’s regret indeed.