ilmscore | Are We All Pretending To Have Money? | The Buy Now, Pay Later Scam

Predictions from this Video

Total: 2
Correct: 2
Incorrect: 0
Pending: 0
Unrated: 0
Prediction
Topic
Status
Predicted that Buy Now Pay Later (BNPL) apps would begin reporting to credit bureaus, thereby impacting consumers' credit scores.
"It's worth noting that since I recorded this video, buy now pay later apps are going to be reporting to the credit bureaus and therefore impacting your credit score, which makes them potentially an even riskier type of financial product for the everyday, usually younger, less affluent consumers targeted by them, who may not realize the trap that they're falling into."
Buy Now Pay Later (BNPL) credit reporting
Correct
Predicted that credit card companies and airlines will continue to change their rules at will, and this will not significantly harm their profits due to the sunk cost fallacy experienced by customers.
"credit card companies and airlines still hold all the power. They can simply change the rules whenever they want. And thanks to the sunk cost fallacy, it will not necessarily affect their bottom line."
Credit card and airline industry power
Correct