Survey: Nearly One-Quarter of Americans Use Buy Now, Pay Later for Concert Tickets

A new survey from LendingTree shows that almost a quarter of U.S. consumers have used buy now, pay later (BNPL) loans to cover the cost of attending concerts or festivals, with younger generations leading the trend. Experts caution that while BNPL plans can help spread out payments, they come with potential drawbacks compared to credit cards.

According to the survey of 2,050 adults conducted in mid-June, 23% of respondents said they have used BNPL loans for concert or festival expenses. Usage was highest among Generation Z (37%) and millennials (35%), followed by Generation X (19%) and baby boomers (3%). Of those surveyed, 1,047 people planned to attend a concert or festival in the summer or fall.

People in a concert | Source: Pexels

Matt Schulz, chief credit analyst at LendingTree, said the popularity of BNPL among younger adults reflects both their familiarity with the payment method and their stage in life. “Part of the reason why I ended up in credit card debt in my 20s was because I was going to concerts and seeing my favorite bands,” Schulz said. He advised fans to plan ahead: “Carve out money in your budget as your ‘Beyoncé fund’ or your ‘Taylor Swift fund.’”

BNPL loans typically allow payments in four installments, sometimes without interest, but longer-term plans may charge interest rates of up to 36% and late fees as high as 25% of the purchase price, according to NerdWallet. Credit cards, while often carrying higher average interest rates—just over 20%—offer purchase protections and rewards programs. Greg McBride, chief financial analyst at Bankrate, noted that credit cards can make it easier to secure refunds if events are canceled.