#klarna

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Also have klarna available on my site as a payment option 🤍

No, it's not ok to use. But the reasons are complicated, which is why we wrote this about Pay In 4 and similar buy-now-pay-later apps:

Buy Now Pay Later Apps: That Old Predatory Lending by a Crappy New Name 

which does actually do a good job of explaining a brief history of credit in the U.S., why debt and interest rates are rising, some proposed institutional solutions, etc.

Except that halfway through the video there's a Klarna ad:

And throughout the video, the Vox logo in the upper right corner keeps alternating with the Klarna logo?!

I honestly assumed it was supposed to be some kind of joke or irony but the punch line never came.

And I wasn't the only one:

If you're not sure why me and everyone else in these comments are losing our shit, one of those comments neatly summarizes:

Klarna is a notorious "Buy Now, Pay Later" company. These BNPL companies extract a ton of money both from merchants in fees and from users in late fees. The company counts on people first using them because they can't afford their groceries or take-out or whatever, and then extracting a profit when they can't even afford to make the installment payment. BNPL companies loop-hole around credit card regulations by not directly charging interest -- but they are aware that people will treat them as credit cards and then, when people cannot pay the balance at the end of the month, charge fees which translate to the equivalent of a nearly extortionate APR.

On a video about how Americans are getting destroyed by credit card debt.

Of all the fucking videos for them to put this sponsorship on.

Either some video manager inside Vox saw the opportunity for some ironic performance meta-commentary...or Vox really is just that fucking tone deaf. I genuinely am not sure which one it is.

Noooo. Nooo. My darlings, only spend what you actually have-- especially for things like a burrito order or concert tickets. Do not finance these things!!

Credit cards suck too. I get it. They have interest and there are late fees. But BNPL companies are not your friends either. They have late fees too. They also sell your data and your debt. And they don't offer benefits or even contribute to your credit score.

Credit scores are dumb but if you are in America, a good one can help you like, get a car loan or an apartment.

Please. Just. Do not go into debt for unserious things. And if it's for something larger/necessary like a phone, use a credit card. BNPL companies use a lot of tricks to steer you to use their system. Ignore their tricks that want you to make them more money. Because that is what this is.

Use a credit card, pay it off like you would have to pay off the BNPL, and at least get the benefits of the card. Like rewards cash back or airline miles or cheaper hotel stays, and also contribute to having a good credit score, which you can use for things like loans in the future if you need them.

The system is already stacked against you. You don't need to make it easier for them to take your money.

Tl;dr don't spend money you don't have

Edited to add: and, fuck, do not leave a balance on your credit card. Pay it in full every month. And if you can't do that, then don't use it or spend that money.