Americans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t Track
www.bloomberg.com
Consumers have embraced ‘Buy Now, Pay Later’ products that allow them to pay for purchases in installments, but it’s not clear how many of these loans are out there.

Consumers have embraced ‘Buy Now, Pay Later’ products that allow them to pay for purchases in installments, but it’s not clear how many of these loans are out there.

Paywall removed: https://archive.is/9SYHz

  • Sumocat@lemmy.worldEnglish
    59·
    6 months ago

    Phantom debt is debt that has not been reported to credit agencies. You know who hates not having that data on you? Credit agencies.

    • EvacuateSoul@lemmy.world
      9·
      6 months ago

      Business cards are useful for this. I have enough revolving credit limits now that it doesn’t matter, but at one point I preferred to churn business cards, since a month’s worth of expenses could ding my credit.