DoorDash + Klarna = Payment Plans for Your Cheeseburger?!
DoorDash has announced a new partnership with Klarna – and we’re not sure how we feel about it.
Klarna is a financial onlinepany that lets customers schedule small payments over a set period of time, and soon, DoorDash customers will be able to use Klarna to pay for their food in four interest-free payments or defer payments and choose a “date that aligns with their paycheck schedules.”
Klarna is calling it a “convenient option” for those struggling to afford everyday essentials, but some experts worry this could just lead to people racking up more debt with every DoorDash order.
There’s no exact launch date yet, but we know it’s rolling out soon.
Curious what our team thinks about this?
While initially I think it’s not a wise idea…but…as someone who grew up poor raised by my Grandma on just her social security alone, I know that there are probably some special occasions where parents would want to splurge and maybe get a special birthday dinner or something for their kids that they couldn’t afford right at that time. This would allow them a way to do that without taking an initial hit to their budget and would allow them to be able to spread out the cost of it.
This reminds of going to college and signing up for a credit card without knowing the possible consequences. I had a friend who would always volunteer his card to pay for dinners for the group, etc. Nice gesture but major financial consequences later. While I’m not sure if Klarna is charging interest for this payment option, but this will be a slippery slope for some. It might be too easy and then your food payments for dinner you ate months ago are still haunting you. I won’t be doing this but I just hope for those that do that they are doing it in a mindful way.
My biggest fear is teens using it. I think a lot of people forget Klarna can impact your credit score. All of that to say I don’t think it’s bad but it’s the same as a credit card – it can be used responsibly but it also can be soooo easy to lose track and end up in a hole. Especially when Doordash is already kinda this fun non-necessity we all know we shouldn’t use as often as we already do – lol.
And here’s what readers have said so far about buy-now, pay-later fast food deliveries:
This seems like a bad idea. One missed payment and the fees will eat you alive. – Cara
I too grew up poor, but I want to live under my means. I also want to teach my children to work hard to get what they want later. Sometimes that means making sacrifices now in order to reap rewards later. Definitely not a wise decision on this. This is why so many people are in debt! – Rosie
I don’t use food delivery because it’s so much more expensive and having to wait to see if or when you may get it. I’m too impatient for that and what hot fresh food. I couldn’t imagine using klarna to pay for food and then forgetting about it until its drawing interest and impacting my credit. – Les
What do YOU think? Is financing your McDonald’s order convenient or silly?
