Roughly one-quarter of Americans making anywhere from $50,000 to more than $100,000 per year have found themselves cut off from traditional credit due to past histories, but their money still spends.
Giving these solid earners a second chance at credit is turning into a huge retail opportunity.
What’s being discovered is that this massive consumer segment is making the most of buy now, payer later (BNPL) installment credit. Providers and merchants have found that this group not only likes installments but also forms an affinity for brands and merchants offering them.