Some buy now, pay later platforms are testing out a new model: subscription plans. 

For $5.99 a month, Afterpay Plus users get a digital card they can use in stores. And Klarna just rolled out a subscription of its own: $7.99 a month lets users dodge service fees, rack up loyalty points faster and access special deals. 

For these companies, it’s another guaranteed revenue stream and maybe a way to lock in loyal customers. But can they work when paying later is the whole point? 

“Um, it’s a little counterintuitive” said Sheridan Trent, with the payment analytics firm The Strawhecker Group. 

If subscriptions to these platforms appeal to you, “you’re someone who’s probably using buy now, pay later multiple times a month,” Trent said.

And many of those superusers are on shaky financial ground to begin with, said Delicia Reynolds Hand with Consumer Reports. 

“You do see that usage skews younger, lower income,” Reynolds Hand said.

She said the most vulnerable users might not go for it. 

But still, consumers should be wary of what’s essentially a subscription model for debt. 

“Especially if the subscription is connected to rewards points, discounts, which could further incentivize overspending,” Reynolds Hand said.

And if users fall behind, they could be on the hook for subscription and late fees.