Experian Consumer Credit Reports to Now Include Apple Pay Later Loan Info

Experian, an information services company, has announced it will now include “pay-in-4” BNPL [buy now, pay later] loan information from Apple Pay Later on consumers’ credit reports, making Apple the first major BNPL provider to fully furnish “pay-in-4” loan information and payment history directly to the credit reporting agency.

Jennifer Schulz, CEO of Experian North America says the company is committed to driving transparency in the BNPL industry and doing so in a way that doesn’t inadvertently negatively impact consumers. Given this, Apple Pay Later loans borrowed today onward will appear on a consumer’s Experian credit report with a BNPL designation starting March 1. While consumers will be able to see their Apple Pay Later loan information on their Experian credit report, the information won’t be factored into existing traditional credit scores but may in the future as new credit scoring models are developed.

When BNPL account information becomes more widely reported to Experian by additional BNPL providers, a consumer’s BNPL history will be visible to lenders who request an Experian credit report — enabling lenders to make more informed decisions when determining whether to extend credit offers.

To learn more, visit https://www.experian.com/consumer-education-content/buy-now-pay-later-faq.