Buyers at Walmart have frequently used layaway scheme to put an item on hold after certain deposit and obtain it once they have paid in full. Although this seems like a reasonable approach the Walmart Layaway Affirm shift has been welcomed with open hands as hundreds of customers quickly shifted to this mode of buy now pay later payments as soon as it was introduced in 2019.
- Walmart has replaced Layaway with Affirm that lets you pay in easy installments over flexible time duration.
- You can use Affirm for online and in-store shopping at Walmart.
- The interest rate varies from 0% to 30% and customers can qualify got $0 APR but will have shorter term to pay back.
…and Much More!
Walmart Layaway Affirm – What You Need To Know?
Walmart definitely looks after its customers with schemes like gift card cash back offers and notary services. However, the store dropped its layaway offer in 2021 and encouraged customers to use Affirm instead. It is a buy now pay later program which lets them divide purchase into easy installments.
When Does Walmart Layaway start
This partnership took place in 2019. Soon afterwards, majority of the users were employing Affirm to make purchases more affordable. However, the convenience came with considerable interest charges. Walmart did mention that buyers can have 0% promotional APR for selective items given they were paying off installments on shorter term.
- Walmart has also set an eligibility criteria for Affirm financing. The qualification takes into account total amount of purchase as well as what you are buying.
According to some sources, layaway at Walmart may still be available for jewelry items but that is about it.
You might be interested in reading: Affirm Savings Account Review.
Walmart Partnership With Affirm 2019
Affirm is one of the leading buy now pay later platforms along with famous names like Afterpay, Klarna and Quadpay. Like other BNPLs, it lets you make the purchase without paying the total amount upfront.Typically, you can divide the payment into 4 equal sections to be paid over 3 to 24 months.
- The repayment term that you are eligible for depends on the total amount of purchase and a number of other factors as well.
Generally speaking, purchases less than $800 can be financing for 3,6 or 12 months whereas those higher in price can be financed for a year, 18 months or 2 years. Although getting a longer time to pay back seems attractive, you will be paying interest for more time in that manner as well.
Attention! Affirm does not charge any hidden fees. You will be informed of all the charges at the time of purchase as well as the due dates for each installment.
Pay With Affirm At Walmart Store – Step By Step Guide
The payment method with Affirm at Walmart physical store and online store is somewhat the same. Customers habitual of online shopping, of course, find it to be more convenient as they only need to tap on “pay with Affirm” at the checkout to get done with billing.
- You need to apply at Affirm.com/Walmart for the plan before you can carry out shopping in store.
The application procedure is simple and straightforward. The customers need to enter required personal information. At the time of the checkout, they have to scan the barcode of all products they are purchasing to get the total amount.
Using Affirm For Payments At Walmart – In a Nutshell
It is important to note that not all categories are covered under Affirm financing at Walmart. Typically, you can shop for home goods, sporting goods, tools, electronics, appliances, accessories, clothes, etc.
- Some of the things that you can not buy with Affirm here are tobacco products, alcohol, weapons, pharmacy items, personal care items.
Moreover, you have to keep an interest rate of 0% to 30% in mind when making purchases via Affirm at Walmart. You may qualify for lower or even $0 APR but with a shorter term to pay off the purchase.
Note! Don’t forget to go through the terms and conditions of financing before you finalize the purchase. Bits of information can vary depending on what you are buying.
The Bottom Line
Although Layaway is no longer available, Walmart offers a reliable alternative i.e. Affirm, to help you purchase the items you need without burdening your pocket.
Affirm payment plans come with minimal interest charges. You can further reduce spending by staying away from impulsive purchases and focusing on buying items that you need over consider term of repayment. After all, it can be a great deal!
You might be interested in reading: Stores That Accept Sezzle for Buy Now Pay Later.
Frequently Asked Questions
Do you need good credit score for Walmart Affirm?
Fortunately, Walmart does not specify that you have to apply with good credit score to get approval. However, since there is no minimum credit score requirement mentioned, it is useful to apply for a better score if you wish to obtain low APR. Especially the promotions like 0% APR financing.
Does Walmart accept Afterpay?
Walmart does not accept buy now pay later schemes of Afterpay and Sezzle. You can use alternative BNPLs like Affirm, Klarna, PayPal, etc.
Are all items covered under Walmart Affirm BNPL scheme?
Some of the items that are not eligible under this plan include pharmacy, personal care products, firearms, alcohol, tobacco, grocery items, etc.
Can I return a product to Walmart that I bought with Affirm?
Yes. You can return the products that you have purchased in store or online. You will also receive a refund if you keenly follow the Walmart return policy as per their office page.
Jamie Johnson is very enthusiastic Kansas City – based freelance writer, and her core expertise are finance and insurance. She has been endorsed on several personal finance, insurance & business website to share her thoughts. Her publications can be found on famous sites like Bankrate, The Balance, Business Insider, Chamber of Commerce and many others.
From many years, she served more than 10,000 hours of research and writing to more than 2000 articles related to personal finance, credit building, mortgages, and personal and student loans.
