Astro Bot. Death Stranding 1 and 2. Ghost of Tsushima and Ghost of Yotei. Horizon: Zero Dawn and Horizon: Forbidden West. God of War Ragnarök. Stellar Blade.
A quick list of some of the beloved, critically-acclaimed games console players will only find on the PlayStation 5. But with prices currently ranging from over $400 for the PS5 Slim to about $700 for the PS5 Pro, getting the best in modern gaming comes at a steep price.
Buy Now, Pay Later (BNPL) is one solution that’s helped plenty of gamers grab their very own PS5 to pay in installments, so you’re not dropping such a large chunk of change all at once. Let’s talk about how it works, what to look out for, and how to stay smart about paying in installments.
Key Takeaways
- Buy Now, Play Now: You don’t have to wait to save up for a PS5—BNPL services let you split the cost into manageable payments.
- No Credit Card Needed: Most BNPL options work with a debit card and don’t require a credit card to apply or pay.
- Watch for Credit Checks: Some services do a soft credit check, while others might run a hard credit check—know which one before you apply.
- Late Fees Can Add Up: Missing a payment isn’t free. Services like Klarna and Sezzle charge late fees, so stay on top of due dates.
- Each App Works Differently: Klarna, Affirm, and Sezzle all offer slightly different terms, so compare them before checking out.
What Is Buy Now, Pay Later (BNPL)?
Buy Now, Pay Later is pretty much what it sounds like. You buy the item now—PS5, controller, headset, the works—and pay it off over time. Usually, you’ll make a first payment at checkout (often 25% of the total), then split the rest across a few weeks or months.
No interest. No credit card needed. And often, no hard credit check (which can ding your credit score).
BNPL Services That Work with PS5 Purchases
If you’re shopping online—especially at stores like GameStop, Best Buy, or Target—you’ll probably see one of these BNPL services at checkout:
Sezzle
Sezzle is a well-reviewed BNPL option. Here’s how Sezzle works:
- Split your purchase amount into 4 payments over 6 weeks
- No interest if you pay on time
- Instant approval involves a quick soft credit check (no impact on your score)
Like Klarna, Sezzle charges late fees if you miss a due date. But the interface is user-friendly, and you can reschedule one payment per order for free—great if payday’s running a little late.
Klarna
The Klarna app is one of the most popular BNPL options. It lets you:
- Split the cost into 4 payments, one every 2 weeks
- Stretch payments over 6–24 months (this might involve a soft credit check)
- Track spending and set reminders
Heads up: Klarna does charge late fees if you miss a payment, so set those reminders!
Affirm
Affirm is another big player in the BNPL world, and you’ll see it at checkout with retailers like Walmart, Target, and Amazon. Here’s how it works:
- Break your purchase amount into monthly payments
- Choose terms that range from 1 to 60 months
- May involve a soft or hard credit check, depending on the plan
Affirm is pretty transparent—they show your total cost and payment schedule upfront, so there are no surprises. Just make sure you read the fine print before hitting “confirm.”
What You’ll Need to Use BNPL: Play Now, Pay Later
Don’t worry—you don’t need to sell your soul or fill out piles of paperwork. Most BNPL apps only ask for:
- A valid debit card or bank account
- Your name, address, and phone number
- Sometimes request your Social Security number for a soft credit check
Some services, like Affirm, are arranged pursuant to agreements with lending partners (usually FDIC-insured banks). You might see something like “Loans are made by Cross River Bank, Member FDIC”—this just means the loans are coming from a legit source, not some shady corner of the internet.
The Upsides of Buying a PS5 Now, Paying Later
I’ve used BNPL before, and honestly, it can be a lifesaver. Here’s what I like:
- No Upfront Cost: You don’t need to drop $500+ at once. That’s huge.
- No Interest (Usually): If you pay on time, many BNPL services don’t charge interest.
- No Credit Card Needed: You can pay straight from your debit card.
- Fast Approval: In most cases, you’ll know if you’re approved in seconds.
The Risks You Shouldn’t Ignore
Okay, time for the real talk. BNPL isn’t magic money.
Before you hit “buy,” keep these things in mind:
- You Can Rack Up Debt Fast: It’s easy to add accessories, games, and an extra controller “since it’s only $XX today.” But those small payments add up.
- Late Fees Sting: Miss a payment, and you could face late fees, especially with Klarna or Afterpay.
- Some Plans Involve Credit Checks: Services like Affirm sometimes run a hard credit check, which can negatively impact your score.
Tips for a Smart BNPL Purchase
Here’s how I keep myself in check when using BNPL:
- Only buy what I can afford to pay off within the plan
- Set calendar reminders for every due date
- Use a debit card for BNPL payments instead of a credit card to avoid interest stacking
- Check if the plan involves a soft credit check or a hard credit check before I apply
If I can’t pay it off in full by the final installment? I wait. And I’d recommend you do the same.
Final Thoughts: Is PS5 Buy Now Pay Later Worth It?
If you’ve got your eye on a PS5 but not the full cash today, BNPL can be a solid option—as long as you go in with a plan. Use a debit card, read the fine print, and know when your first payment (and every other one) is due.
It’s your money—and your game nights. Choose the option that gives you peace of mind.
FAQs
Yes, many online retailers offer Buy Now, Pay Later options through services like Klarna, Affirm, and Sezzle. These let you break up the cost into smaller payments over time.
No, PlayStation’s official store does not currently accept Sezzle as a payment method. However, other retailers that sell PS5s might.
Yes, GameStop does accept Sezzle for online purchases. You can use it at checkout to split your payments into installments.
It depends on what you need. Klarna is great for flexibility, Affirm works well for longer-term financing, and Sezzle is simple and easy to use with a debit card.
Look for services that only do a soft credit check, like Sezzle or Klarna’s Pay in 4. These don’t affect your credit score and are easier to get approved for than traditional financing.
