DENVER (KDVR) — If you’re among the many Coloradans who uses a buy now, pay later feature, listen up: many consumers are finding themselves paying more for things they thought they were getting a deal on.

In some cases, these buy now, pay later apps are putting more Coloradans into credit card debt.

A lot of consumers are paying off their buy now, pay later installment plan balances, which are usually divided up into four separate payments, with their credit cards. Which can potentially lead to higher costs.

According to experts, by using a credit card for these types of services, if you fail to pay your credit card balance in full, there’s usually an expensive interest rate attached to it.

One figure from Bankrate shows an average interest rate of 16.34%.

“When you’re using a credit card onto of a BNPL service it’s really difficult for a lot of consumers to understand how much they’re actually paying for things because the payment is delayed. So if you are putting these things on a credit card and you can’t pay off that credit card balance you’re obviously going to be charged more interest. If you’re late you’re going to be charged with a late fee and credit damage as well. So it’s something consumers have to be mindful of beyond the ability to pay for things over time,” said Kristin McGrath, an editor at

According to a recent survey from RetailMeNot, roughly 23% of consumers used a BNPL service like a Klarna, Affirm or Afterpay within the past 12 months.

The survey goes on to shows 72% of consumers are more concerned than usual about inflation and 54% believe it’s harder to sustain their household right now, compared to this same time-period last year.

Additional data from the survey showed the following:

  • 44% of consumers plan to look for more coupons or discounts due to inflation and the overall increase in prices.
  • 58% are making fewer shopping trips/visits.
  • 40% are cutting back discretionary spending.
  • 39% are switching to lower-priced brands (due to high prices/inflation).
  • 27% are postponing major purchases.
  • 39% of consumers mention social media has changed the way they search for new products. 
  • 59% of American consumers use coupons regularly.

Roughly a third (34%) of consumers who used buy now, pay later services report falling behind on one or more payments.