Walmart Is Not Offering Layaway This Christmas Season

Dang! Walmart has decided to do away with layaway this year. But it does have an option that some may find better!

Typically, the giant retailer allows customers to put down a deposit in August with the option to pick up in mid-December with no interest charges, but that will not be the case this year.

Instead, Walmart has decided to use Affirm, which is being marketed as an “alternative to layaway,” Penn Live reported.

Shoppers will now have the advantage of getting their items immediately instead of getting them after paying them off. Affirm allows them to pay for the items over 3 to 24 months.

However, there is a finance charge, an APR ranging from 10%-30% depending on an individual’s credit rating. There are some items offered at a 0% APR, WSBTV reported.

Even though it sounds similar to a credit card, it’s not. There are no late fees, prepayment fees, annual fees, or opening and closing fees.

Sounds good!