Buy Now Pay Later (BNPL) platforms like Afterpay, Zip, Humm and Klarna have exploded in popularity across Australia. They offer a simple pitch: get what you want now, pay in bite-sized instalments later. Sounds perfect, right?
Paying off a credit card or loan can feel like a massive weight off your shoulders, especially if you’ve been working hard to repair your credit. But once that final payment clears, the next question often is: Should I close old accounts or leave them open?
A default on your credit report can feel like a major barrier to rebuilding your credit score and getting approved for loans, credit cards or even a rental application. The good news is that, with consistent effort, you can steadily rebuild your credit score and prove to lenders you’re back on track.
