Should you use buy now, pay later to avoid credit card debt this Prime Day?

If you've been eyeing a large purchase this Amazon Prime Day (or maybe a lot of little ones), you may be wondering if using a buy now, pay later (BNPL) service is a reasonable option or if you should just put your purchase on a credit card . A buy now, pay later loan could work if you're worried about taking on long-term debt and find a plan that doesn't charge interest. However, the right credit card can offer you up to 21 months to pay off your purchase, interest-free, and you may earn rewards. CNBC Select goes over when a buy now, pay later plan could make sense and scenarios when a credit card could be a better option. Is buy now, pay later ever a good idea? A buy now, pay later plan is a type of installment loan that lets you make a purchase and spread payments out over the course of weeks or months, and they've become a popular way to make purchases while delaying the financial impact. "Pay-in-four" plans, or four interest-free biweekly payments, are common, but the exact terms will vary depending on the plan. "BNPL can be a smart alternative to using a credit card for big purchases, especially if your credit card has a higher interest rate and you are not able to pay off the balance by the end of the month," Ryan A. Hughes, founder and portfolio manager at Bull Oak, told CNBC Select. …