What Is Klarna?
Klarna is a buy now, pay later service.
you’re free to think of it as an upgrade to layaway plans of the past.
Check out our in-depth reviews ofAfterpayandAffirm.
When shopping online, Klarna is limitless, as you might create a virtual credit card for your purchases.
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How Does Klarna Work?
But how exactly does Klarna work?
Was it easy to use in our testing, and would we recommend it?
In short yes, its easy to use, and yes, we would recommend it to nearly everyone.
From there, you’ve got the option to launch the app and create an account easily.
Did you know?
Then, youll be presented with a virtual credit card number that you could use to make your purchase.
Your order is placed and your new object of desire is on its way to you without much effort.
Alternatives to Klarna
The Klarna app may not be the perfect option for everyone.
Possible alternatives includetaking out a personal loanor using a low-interest credit card.
Learn more about the basics of credit cards inThe Penny Hoarder Academy: Credit Cards 101.
At one point,40% of all e-commerce salesin Sweden went through the company.
However, Klarna will perform a hard credit check when you apply for a Klarna Financing Account.
Klarna does not report on-time payments to credit bureaus and will not help you build credit.
As a result, it’s possible for you to pay off Klarna early without any consequences.
Michael Archambault is a senior writer for The Penny Hoarder focusing on technology.
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