Harry Styles fans warned against using BNPL for concert tickets

As Harry Styles’ highly anticipated concert tour continues to generate excitement around the world, many fans, especially Gen-Z, are scrambling to get their hands on tickets.

For many fans, securing a spot at one of the sold-out shows is a must. However, with prices soaring, it’s not always easy to afford.

With ticket prices reaching up to £446.25[1], many fans are turning to buy now, pay later (BNPL) schemes as a way to secure their tickets without the upfront cost. While BNPL schemes have become increasingly popular for their promise of reduced financial strain, they also come with risks that fans may not fully understand.

Aseem Munshi, Our Founder at Updraft, explains the risks of using buy now, pay later schemes when purchasing concert tickets and how to protect yourself financially.

How BNPL schemes can lead to financial stress for Gen-Z

While BNPL may appear to be a quick, simple solution for purchasing concert tickets without a hefty initial payment, many fans are unaware of the long-term consequences.

Although the flexibility to spread payments over a longer period of time may sound appealing, it can quickly turn into a financial headache.

56%[2] of Gen-Z use BNPL schemes, with more than two in five (44%)[3] Gen-Zers feeling overwhelmed by repayments, demonstrating the financial strain and regret many face after choosing flexible payment options.

Aseem explains:

“For concert-goers hoping to enjoy a night full of thrills and live music, BNPL may appear to be a convenient solution for purchasing tickets. However, if payments are missed or delayed, interest rates can quickly spike, turning already pricey tickets into a burden that can negatively impact your financial health.”

“BNPL schemes can encourage overspending by breaking down large purchases into small, seemingly affordable chunks, but the total cost can easily spiral out of control. What starts as an easy way to pay for Harry Styles tickets can quickly turn into a financial burden.”

The hidden cost of BNPL schemes

Updraft’s analysis of Google search data has uncovered that UK searches for ‘BNPL’ have increased by 132% in the past three months – reaching an all-time high.

With schemes such as Klarna, Afterpay, and Clearpay becoming increasingly popular, many younger fans may not realise the dangers of using these services.

Aseem explains:

“Missing just one payment can damage your credit score, and with many BNPL schemes charging steep late fees and interest rates for missed payments, the financial stakes are higher than ever. These fees can turn what seems like a manageable instalment plan into a financial burden, creating unexpected expenses.”

“For many fans, especially Gen-Zers who are new to managing credit, this could be one of the first significant hits to their credit score, making it harder for them to access credit in the future.”

“Fans purchasing Harry Styles tickets, which can cost hundreds, should be cautious when selecting payment methods, as the pressure to stay on top of payments can create unnecessary stress.”

How to secure Harry Styles tickets without the financial stress

While BNPL may not be the best option for fans, there are plenty of responsible ways to secure concert tickets without jeopardising your credit score.

Aseem concludes:

“The best way to protect your financial health is to set a budget before purchasing tickets, ensuring you don’t stretch your finances too thin. If possible, aim to save for any leisure activities in advance, rather than relying on BNPL schemes.”

“Using methods such as the 50-30-20 method to split up monthly income – 50% on monthly essentials, 30% on flexible wants, and 20% on savings and debt – can help to save for those dream concert experiences.”