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For now, many of these smaller, short-term loans aren’t reported in a consistent way to credit bureaus, so borrowers don’t build a formal credit history by using them. But as the loans become more mainstream, that’s changing.
Francis Creighton, the president and chief executive of the Consumer Data Industry Association, a trade group for the credit reporting industry, said it was important to have pay-later loans reflected on credit reports so lenders could have a true picture of a loan applicant’s overall credit profile. But because the loans are structured differently from traditional loans, he said, the credit bureaus first had to resolve “technical” issues to add them. “We have to make sure we do it right,” he said.
https://www.nytimes.com/2021/12/31/your-money/buy-now-pay-later-loans-credit.html
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