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Gamers, brace yourselves: the PS5 just got pricier.
After citing a “challenging economic environment,” Sony has increased PS5 prices to the following:
- PlayStation 5: $549.99 (up $50 from $499.99)
- PlayStation 5 Digital Edition: $499.99 (up $50 from $449.99)
- PlayStation 5 Pro: $749.99 (up $50 from $699.99)
Whether you’re upgrading your setup or stocking up on games, that extra $50 bump means thinking twice before hitting “buy”—or finding ways to stretch your gaming budget further.
Buy Now, Pay Later (BNPL) services are gaining traction as a way to break up big purchases into manageable payments. BNPL apps allow you to break your purchase into smaller, interest-free payments over weeks or months. For a high-ticket item like the PS5, especially in this economy, that can make the price tag feel less intimidating.
How BNPL Can Affect Your Credit Score
With inflation high and paychecks flat, treating yourself often means stretching your budget a little. That’s where BNPL can help. BNPL used to fly under the radar when it came to credit reporting, but that’s changing. Recent updates from FICO mean that some BNPL activity may appear on your credit report in the near future.
BNPL can work in your favor—or against you. Make payments on time, and it can help boost your credit score. Miss a payment, and it can drag your score down. Used responsibly, it’s a credit-building tool; used carelessly, it can backfire fast.
Popular BNPL Options for Gamers
If a big purchase is out of reach in a single payment, here are some of the best BNPL apps that can help you spread out the cost.
- Affirm is one of the most well-known BNPL platforms that lets you pay off purchases in monthly installments. Some plans are interest-free if paid on time, while longer-term options can carry interest. It’s widely accepted by electronics retailers, making it a convenient choice for console buyers.
- Klarna offers flexible installment options and even lets you pay four equal payments every two weeks. Its app tracks your payments and sends reminders, which can help avoid late fees. Klarna is often integrated directly into online stores, making checkout seamless.
- Afterpay splits purchases into four payments and doesn’t charge interest if you pay on time. Late fees are rare, as the app sends you reminders when it’s time to pay. It’s simple to use and works with many online retailers, including major electronics stores.
Use BNPL Wisely
BNPL can be tempting, especially for a big-ticket item like the PS5, but it’s easy to overdo it. Juggling multiple BNPL plans at once can be overwhelming and lead to missed payments. Unlike credit cards, BNPL doesn’t always come with strong consumer protections, so read the fine print before committing.
A simple rule: Only use BNPL for purchases you can realistically pay off on time. Think of it as a budgeting tool, not a way to buy more than you can afford. Set reminders, track your due dates and limit usage to avoid extra fees or credit headaches.
Bottom Line
The PS5 price increase can sting for gamers, but BNPL can make the cost more manageable if used responsibly. Choose a BNPL platform that works for your budget and keeps up with your payments without damaging your finances or credit.
BNPL isn’t free money, but for gamers who plan carefully, it can be a smart way to enjoy the latest console without sticker shock. Game on—but do it wisely.