Wise words - and BNPL does spoil them. The default rates on BNPL loans are problematic - and the product encourages over-spending. Many consumers manage more than 1 BNPL loan at the same time - this can create problems with managing bank accounts and lead to overdrafts and delinquencies. In fact, one recent survey showed that BNPL users are twice as likely as non-users to have existing credit accounts in delinquency.