In June 2023, 42.5 percent of people with a credit score below 620 had used buy now, pay later (BNPL) in the United States. The relationship between the usage of BNPL and credit score was inversely proportional. People with higher credit scores had lower BNPL usage rates.
Share of people who have purchased something using a buy now, pay later (BNPL) option in the United States in June 2023, by credit score
Survey responses from the New York Fed’s Survey of Consumer Expectations (SCE) Credit Access Survey.
Method of interview
Online panel
Supplementary notes
The figures do not add up to 100 because they show the percentage of people in each of those situations that used BNPL. For example, if 42.5 percent of people with a credit score below 620 used BNPL, that means that 57.5 percent of people with that credit score did not use BNPL.
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New York Fed. (September 26, 2023). Share of people who have purchased something using a buy now, pay later (BNPL) option in the United States in June 2023, by credit score [Graph]. In Statista. Retrieved December 19, 2024, from https://www.statista.com/statistics/1475071/usage-of-bnpl-by-credit-score-in-the-us/
New York Fed. "Share of people who have purchased something using a buy now, pay later (BNPL) option in the United States in June 2023, by credit score." Chart. September 26, 2023. Statista. Accessed December 19, 2024. https://www.statista.com/statistics/1475071/usage-of-bnpl-by-credit-score-in-the-us/
New York Fed. (2023). Share of people who have purchased something using a buy now, pay later (BNPL) option in the United States in June 2023, by credit score. Statista. Statista Inc.. Accessed: December 19, 2024. https://www.statista.com/statistics/1475071/usage-of-bnpl-by-credit-score-in-the-us/
New York Fed. "Share of People Who Have Purchased Something Using a Buy Now, Pay Later (Bnpl) Option in The United States in June 2023, by Credit Score." Statista, Statista Inc., 26 Sep 2023, https://www.statista.com/statistics/1475071/usage-of-bnpl-by-credit-score-in-the-us/
New York Fed, Share of people who have purchased something using a buy now, pay later (BNPL) option in the United States in June 2023, by credit score Statista, https://www.statista.com/statistics/1475071/usage-of-bnpl-by-credit-score-in-the-us/ (last visited December 19, 2024)
Share of people who have purchased something using a buy now, pay later (BNPL) option in the United States in June 2023, by credit score [Graph], New York Fed, September 26, 2023. [Online]. Available: https://www.statista.com/statistics/1475071/usage-of-bnpl-by-credit-score-in-the-us/
