How to Use BNPL (Buy Now Pay Later) in Nigeria and Stay Creditworthy

Buy Now, Pay Later (BNPL) is changing the way Nigerians shop. Whether you're buying a smartphone, appliances, or even fashion items, BNPL lets you split payments over time without paying the full amount upfront. It's fast, flexible, and convenient. But if not used wisely, it can harm your credit score.

Here's how to enjoy the benefits of BNPL without damaging your financial reputation.

Know What You're Signing Up For

Before you use BNPL, read the terms clearly. Are there hidden fees for missing a payment? What's the repayment schedule? Reputable BNPL platforms will show you this information upfront. If something feels unclear or rushed, ask questions.

Use BNPL for Essentials, Not Impulse Buys

It's tempting to use BNPL for everything, but it's smarter to reserve it for meaningful purchases, like items you've planned for and can comfortably repay. Treat it like a tool, not free money.

Don't Stack Multiple BNPL Purchases

Too many active BNPL plans can overwhelm your finances. Even if you're approved by multiple platforms, limit how many you use at once. Missing one payment can affect your credit profile.

Always Pay On Time

Late payments may lead to penalties and get reported to credit bureaus, lowering your score. Set reminders or enable auto-debit so you don't forget your due dates. Some platforms even reward consistent payments by increasing your credit limit or lowering fees.

Monitor Your Credit Regularly

Using BNPL responsibly can improve your credit score, but only if you keep track. Services like Scorewise help you check your credit report, catch issues early, and understand how your habits affect your score. BNPL can be a smart way to manage purchases if you stay disciplined. Stick to your budget, pay on time, and avoid overcommitting. That way, you enjoy the flexibility today while building a stronger credit profile for tomorrow.

Scorewise helps you track your credit score, understand what impacts it, and grow your financial reputation. It is available on the App Store or Google Play Store.