Latest news with #Afterpay
Yahoo
a day ago
- Business
- Yahoo
Your credit score could go through a big change this fall — but that's good news if you're part of this growing group
If you've shopped online in the last few years, you've likely seen the option to pay with Klarna, Affirm, Afterpay or similar services. These 'buy now, pay later' (BNPL) apps let you split your purchase into four equal and interest-free installments or spread the cost over longer periods with interest. If you've ever used these services, you'll want to know those payments are getting reported to FICO — meaning they can show up on your credit report. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how According to the Federal Reserve Economic Well-Being of U.S. Households in 2024 report, 15% of Americans have selected the BNPL option within the last year. The payments seem simple enough: An $80 item can cost you $20 every month for four months, and if you pay on time, you won't get charged a penalty or interest. Plus, these types of payments are usually smaller, since they are used on routine online shopping. But, nearly a quarter of shoppers using BNPL have reported a late payment, the Federal Reserve found. Now, the late charge can show up on a buyer's credit score. Why FICO is making the change FICO, which did a yearlong study with BNPL provider Affirm, wants to see how American consumers spend their money and how often they need to take out these small 'loans.' The BNPL option "is becoming a really big part of how people are managing their finances, and so FICO wanted to be able to manage and reflect that shift," Julie May, vice president and general manager of business-to-business scores at FICO, told NPR. The Federal Reserve says BNPL is used by many demographics but especially by younger low and middle-income Americans. And for those shoppers, using Klarna or Affirm may be the only way to afford even those smaller purchases. FICO says this data has been a 'blind spot,' and now with BNPL data, they can see how many loans Americans can truly afford to take on. "We want people to get the credit that they need — but we don't want lenders to be flooding the market with credit beyond what's safe and reasonable for consumers," Adam Rust, director of financial services at the Consumer Federation of America, told NPR. Making BNPL purchases can be a way to start building credit if you have no loan history, but FICO says using BNPL won't do much to increase your current score if you're trying to bump it up. Plus, missing payments will still hurt your score. The potential ding to your credit score isn't the only risk with this payment option, either. Rust warns that they don't have nearly the same protections or regulations as credit cards: If you need to refund an order or find out an item was purchased fraudulently, you may still be expected to pay those third-party platforms. While the Consumer Financial Protection Bureau ruled that BNPL customers have the right to dispute fraudulent charges in 2024, they've since announced that they are pulling back from enforcing that ruling. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Should I use buy now, pay later? BNPL can indeed be an easy and convenient way to pay for everyday items, but at the end of the day, you are still taking out a loan that can now impact your credit. Let's look at what to consider before selecting that option at checkout. First, ask yourself if you can afford to buy the item outright without installment payments, especially if the item is not a necessity. If not, it may be a red flag that you can't actually afford to make that purchase. If the item is a want but not a need, consider saving up a bit longer so you can buy it outright — without fear of a late payment. Consider any other debts you may have, like existing credit card balances or other loans. Even though a BNPL loan is often small, forgetting your installment due date could cost you big time: a late fee could be as much as 25% of the item's original price, and for those longer-term installments with interest, you could be charged even more. Be sure to check the installment schedule. Some platforms withdraw monthly, while others are bi-weekly. Using BNPL can be a smart option for a necessary, larger one-time purchase, especially if you know you're consistent at making payments on time and it won't become a habit. Additionally, it can serve as a small step towards establishing a credit history — provided you maintain a good payment history — if you have never previously taken out a loan or credit card. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Scoop
6 days ago
- Entertainment
- Scoop
L.A.B And Stan Walker Announce Summer Tour With Special Guests
Press Release – NikNak Media After tearing up stages across New Zealand and Australia this past summer, the incredible combination of L.A.B and Stan Walker will again join for three memorable outdoor shows this summer – including a return to L.A.B and Stan Walker's home of theBay Of Plenty; a one-off Australian show on the Gold Coast; and L.A.B's first Auckland show in over four years. Presented by Loop, the first show will take place on Saturday December 27, 2025 at Wharepai Domain in Tauranga followed by Saturday January 3, 2026 at Broadwater Parklands, Gold Coast. The final show will take place on Saturday January 31, 2026 at Auckland's Trusts Arena Outer Fields. These three special shows will see massive line-ups including: L.A.B, Stan Walker, Aaradhna & Te Wehi (All Shows). Corrella (Tauranga only). Tiki Taane (Gold Coast only). Nesian Mystik (Auckland only, first show in Tāmaki Makaurau in over 15 years). Tickets for all three shows go on sale Thursday, July 31 at 12pm from with Afterpay available for all shows. Sign up for pre-sale access for all shows from These three outdoor shows will be the perfect summer day out, with a collection of acts who represent Aotearoa summertime all in one place. As a special treat, each show will see a different artist added to the line-up, giving each city a unique line-up not seen anywhere else. Tauranga will see Corrella on the line-up, bringing with them their high-energy brand of reggae/soul. Auckland will see the legendary Nesian Mystik performing their first show in Auckland in over 15 years. Gold Coast gets the ultimate party-starter Tiki Taane, bringing his epic One Man Band set up on the road back to the GC. These shows will be L.A.B's first headline shows since winning the Te Manu Mātārae Award at the 2025 Aotearoa Music Awards, an award acknowledging an artist's impact on the music landscape. Their most recent album L.A.B VI included the hits 'Take It Away' and 'Casanova', and 2025 has seen them already touring across the globe. This will be their only headline shows in NZ and Australia this coming summer, so expect three massive days out. Tauranga will be a return home for L.A.B for the first time in over two years, while their Auckland performance will be the first in Tāmaki Makaurau in over four years. Stan Walker is an artist who continues to go from strength to strength. Taking home the Best Māori Artist and Mana Reo awards at the 2025 Aotearoa Music Awards, Stan's captivating live show sees him combine with his longtime band, The Levites, creating a powerful experience with every performance. Fresh off of multiple visits to the United States through 2025, and with new music on the way, Stan will bring his ever-expanding catalogue of hits to the stage at these shows. All three shows will see L.A.B and Stan Walker joined by Aaradhna and Te Wehi. One of the most stunning voices in Aotearoa, Aaradhna announced her return with her acclaimed 2024 album SWEET SURRENDER. The album saw her take home Best Soul/RnB Artist at the Aotearoa Music Awards, with select live performances over the past 12 months reminding audiences why she is a true legend of the scene. Each show will be opened up by the fast-rising Te Wehi. The Bay Of Plenty native has quickly become one of the most sought-after artists in the country, already boasting three #1's on the Aotearoa Hot Singles Chart. His unique blend of country-tinged reggae will be the perfect stage setter for a massive day of live music. These three shows see a line-up of the finest Māori/Pasifika artists in Aotearoa combine for a series of summer shows that aren't to be missed. Be sure to secure tickets for L.A.B's NZ summer tour. Presented by Loop, thanks to Kirin Hyoketsu, Corona, Mānuka Phuel & Mai FM.
Scoop
6 days ago
- Entertainment
- Scoop
L.A.B And Stan Walker Announce Summer Tour With Special Guests
After tearing up stages across New Zealand and Australia this past summer, the incredible combination of L.A.B and Stan Walker will again join for three memorable outdoor shows this summer - including a return to L.A.B and Stan Walker's home of the Bay Of Plenty; a one-off Australian show on the Gold Coast; and L.A.B's first Auckland show in over four years. Presented by Loop, the first show will take place on Saturday December 27, 2025 at Wharepai Domain in Tauranga followed by Saturday January 3, 2026 at Broadwater Parklands, Gold Coast. The final show will take place on Saturday January 31, 2026 at Auckland's Trusts Arena Outer Fields. These three special shows will see massive line-ups including: L.A.B, Stan Walker, Aaradhna & Te Wehi (All Shows). Corrella (Tauranga only). Tiki Taane (Gold Coast only). Nesian Mystik (Auckland only, first show in Tāmaki Makaurau in over 15 years). Tickets for all three shows go on sale Thursday, July 31 at 12pm from with Afterpay available for all shows. Sign up for pre-sale access for all shows from These three outdoor shows will be the perfect summer day out, with a collection of acts who represent Aotearoa summertime all in one place. As a special treat, each show will see a different artist added to the line-up, giving each city a unique line-up not seen anywhere else. Tauranga will see Corrella on the line-up, bringing with them their high-energy brand of reggae/soul. Auckland will see the legendary Nesian Mystik performing their first show in Auckland in over 15 years. Gold Coast gets the ultimate party-starter Tiki Taane, bringing his epic One Man Band set up on the road back to the GC. These shows will be L.A.B's first headline shows since winning the Te Manu Mātārae Award at the 2025 Aotearoa Music Awards, an award acknowledging an artist's impact on the music landscape. Their most recent album L.A.B VI included the hits 'Take It Away' and 'Casanova', and 2025 has seen them already touring across the globe. This will be their only headline shows in NZ and Australia this coming summer, so expect three massive days out. Tauranga will be a return home for L.A.B for the first time in over two years, while their Auckland performance will be the first in Tāmaki Makaurau in over four years. Stan Walker is an artist who continues to go from strength to strength. Taking home the Best Māori Artist and Mana Reo awards at the 2025 Aotearoa Music Awards, Stan's captivating live show sees him combine with his longtime band, The Levites, creating a powerful experience with every performance. Fresh off of multiple visits to the United States through 2025, and with new music on the way, Stan will bring his ever-expanding catalogue of hits to the stage at these shows. All three shows will see L.A.B and Stan Walker joined by Aaradhna and Te Wehi. One of the most stunning voices in Aotearoa, Aaradhna announced her return with her acclaimed 2024 album SWEET SURRENDER. The album saw her take home Best Soul/RnB Artist at the Aotearoa Music Awards, with select live performances over the past 12 months reminding audiences why she is a true legend of the scene. Each show will be opened up by the fast-rising Te Wehi. The Bay Of Plenty native has quickly become one of the most sought-after artists in the country, already boasting three #1's on the Aotearoa Hot Singles Chart. His unique blend of country-tinged reggae will be the perfect stage setter for a massive day of live music. These three shows see a line-up of the finest Māori/Pasifika artists in Aotearoa combine for a series of summer shows that aren't to be missed. Be sure to secure tickets for L.A.B's NZ summer tour. Presented by Loop, thanks to Kirin Hyoketsu, Corona, Mānuka Phuel & Mai FM.
Sky News AU
6 days ago
- Business
- Sky News AU
NSW Master Plumber's Association condemns Labor's $16 billion student debt cut for elite uni students
Tradies have hit out at the government's plan to spend $16 billion on cutting student debt, accusing Labor of forcing working-class voters to subsidise high-income graduates. The legislation was introduced by Education Minister Jason Clare and will cut existing HELP and TAFE loan balances by 20 per cent. Mr Clare defended the measure as targeted relief for young people experiencing cost-of-living pressures. 'These are the Australians who will build Australia's future, who are already building it, and this will take a weight off their back,' Mr Clare said. However, the tradespeople—who are literally building the nation's future—will receive little to no benefit from the policy. In an angry response following the introduction of the bill to Parliament, the NSW Master Plumbers Association labelled the package as 'deeply unfair'. 'This is not economic reform. It's Afterpay politics at its worst,' Master Plumbers NSW CEO Nathaniel Smith told 'The Albanese government's $16 billion student loan handout was nothing more than a vote-buying exercise—an irresponsible bribe paid for with borrowed money on the national credit card.' Mr Smith said the policy ignores the country's growing skills shortage in construction and trades, where apprenticeships remain underfunded, and the workforce is ageing. 'The government is busy handing out taxpayer-funded subsidies to people with degrees in law and medicine—many of whom will go on to earn six-figure salaries,' he said. 'How is that fair to the thousands of tradespeople who chose a vocational path, earned their qualifications without racking up university debt, and got to work building this country?' Economist have similarly warned the policy was poorly designed, unfairly favouring university graduates and delivering limited economic benefit. New analysis from the non-partisan e61 Institute found more than half of the benefits will flow to the wealthiest 30 per cent of income earners within a decade. 'Over half the benefits of the student debt cut go to individuals who ended up in the top third of all income earners 10 years later,' Senior Research Economist Matthew Maltman said. 'In this sense, the policy is a large regressive wealth transfer.' Mr Maltman noted that the cost of the policy will be borne by taxpayers who never went to university, have already paid off their debts, or are yet to study. 'These groups will effectively be partially bearing the fiscal cost for the policy for no benefit,' he said. 'Despite the large fiscal cost of the policy, our research suggests it is unlikely to deliver much of an economic benefit.' Mr Smith said it was 'absolutely unjust' that tradespeople—many of whom never attended university—were now being asked to pay down the debts of degree-holders. 'If this government were serious about long-term economic growth, they'd be investing in our skilled trades workforce, not rewarding the university sector yet again,' he said. 'They'd be rolling out meaningful incentives for small and medium-sized businesses to take on more apprentices and trainees. 'They'd be injecting real funding into not just TAFE, but also not-for-profit, industry-led RTOs that are on the frontline of skills training.' The Coalition has indicated it will support the bill despite previously criticising the policy as 'populist' and 'economically irresponsible'. 'We have our concerns, they remain. We'll talk about those, but I expect them to pass Parliament,' Shadow Education Minister Jonno Duniam told Sky News.
Yahoo
6 days ago
- Business
- Yahoo
Block Stock Pops in S&P 500 Debut
On Monday, Jack Dorsey's sprawling fintech empire Block became the new kid on the block at the S&P 500, taking a spot left vacant by Hess's merger with Chevron. Its membership in the elite index comes as the company transitions into an all-in-one finance platform, though its ambitions may belie a slightly more complicated reality. READ ALSO: Fine Print: ETFs Born in Banner Year May Lack Staying Power and Gates-Backed 'Green Steel' Startup Clears Key Milestone Don't Be a Square Block has been a rather ubiquitous part of the payments ecosystem for a while now, from powering morning coffee purchases via Square's payment systems to helping friends split the bill of said morning coffee purchases via the peer-to-peer payments platform CashApp. The company also has a buy now, pay later service called Afterpay, for the installment-inclined and plenty of crypto functionality for the blockchain-inclined. More recently, however, the company has begun pushing into every corner of personal finance, with moves such as offering CashApp debit cards and, after receiving FDIC approval earlier this year, offering loans directly through Cash App. Taking a spot in the S&P 500 is a stamp of approval and legitimacy for the fintech firm. But the problem with offering typical financial services outside of the traditional finance world? It tends to attract clients with less cash to spare who are, consequently, more vulnerable to economic challenges, as evidenced by the company's most recent earnings report in May: In its earnings call, Block reported revenue of $5.8 billion in the first quarter of the year, well below analysts' expectations of about $6.2 billion and marking a 3% year-over-year decrease. The company also announced weaker-than-expected full-year profit guidance. The dip was largely due to lower-than-expected payment volumes across its Square and CashApp ecosystems, particularly in discretionary spending categories such as media and travel. The dour results stood in stark contrast to those of more traditional firms in the payments sector, including both major banks and prominent credit card companies, whose customers have proven resilient this year. '[Block] saw softness in discretionary,' Adam Frisch, senior managing director at Evercore ISI, told Bloomberg after the earnings report. 'That is the first time we heard that on any earnings call this quarter.' On the Chopping Block: May's poor showing fueled a brutal 20% share-price skid, on top of a 30% year-to-date drop before the call. Monday's S&P debut helped reverse the trend somewhat, with Block's stock popping roughly 7% before market close (it's still down around 10% year to date). Meanwhile, some point to increased lending as adding complexity and risk to the company's business, given its client base. 'If we're going into a downturn lending to a consumer cohort that makes less than $100,000 on average, that's not a great way to resuscitate your earnings,' Frisch told Bloomberg. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
