Klarna vs Afterpay - Which Buy Now, Pay-Later Platform Should You Use? (Which Has Better Service?). In this comparison video I will talk about Klarna vs Afterpay.

So, the main difference between them is the costs and fees
Currently, you will incur at least $10 when you fail to pay with Afterpay on time. If you delay for a week, Afterpay will charge you an extra $7. Additionally, Afterpay charges a maximum of $68 if you miss making a payment for orders above $272. However, the charges are subject to change in the future.
On the other hand, with Klarna, you will not incur charges for late payment of purchases below $25. For purchases above $ 200, you will incur a maximum cost of $24. However, these charges are also bound to change in the future.
Therefore, Klarna is cheaper on late fees.

Repayment schedules
Klarna has a total of four repayment schedules with the additional choice of paying within thirty days or incurring an interest to pay above six months.
Conversely, Afterpay has four repayment schedules that are normally paid after two weeks per schedule.
Therefore, Klarna has more repayment schedules

Credit limit and criteria
Afterpay offers an easy experience for a customer who does not have a credit history. If you are a new customer with Afterpay, you will be limited to spending up to $600, subject to change. However, the limit can be raised if you portray a good credit score by paying back on time.
Klarna does not have a spending limit for new users. You are able to purchase what you need without constraints. However, before you can spend, Klarna will run a credit check to see if you have a clean record of credit payments. A customer should be careful to spend what is necessary to avoid being unable to pay back on time.
Therefore, new users spend more with Klarna.

But do they have any similarities?
Yes. Both Klarna and Afterpay allow customers to Buy Now, Pay Later at zero interest rates when a payment is made before the deadline. Currently, when you purchase from the two platforms, you will incur an extra cost of 25% of the total amount you buy. Both carry out soft credit checks, but that does not affect your credit score.

So, to sum up, which is better- Klarna or Afterpay?
I like Klarna's extra payment schedules and cheaper fees for late payments, especially if I am unable to pay on time. Afterpay's simpler plan of repayment is a good choice if I don't have a credit history. However, I chose Klarna as the overall winner due to its fair charges for late payments and ability to spend as much as I can without limits.



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