Payment plans are a convenient way to get what you need now and pay it off in installments as you get the money, which means you don’t need to wait, and in many cases, there is no additional cost.

Walmart is a huge brand that many people go to for cheaper products, including bigger purchases like electronics such as televisions, apple products, or things like beds and car batteries. You can even buy caskets for funerals, which can often be an unexpected and critical expense.

With the larger purchases that are sometimes critical and can’t wait, you may need a payment plan from Walmart or another service providing buy now, pay later services through Walmart.

Does Walmart Offer Buy Now, Pay Later?

Walmart offers buy now, pay later services or payment plans through a third-party service (Affirm) that you apply online with and bring your approval to the Walmart checkout with your item. There are no direct options through the Walmart Moneycenter, including no layaway.

If approved, you can select to repay over a period of 3 to 24 months and will be charged between 10% – 30% APR. 

You can use Affirm for eligible items that cost between $144 – $2,000, so if your item falls outside those limits, you will need to find another option.

What Walmart Items Can Be Purchased With Affirm?

Eligible Items	Ineligible Items
Electronics	Alcohol
Video Games	Baby Consumables
Toys	Gasoline
Home	Groceries and Food
Arts & Crafts	Merchandise at the register
Musical Instruments	Miscellaneous Supplies
Home Improvement	Money Services
Auto	Personal Care
Sports & Outdoors	Pet Supplies
Tools	Pharmacy, Health, and Wellness
Baby	Temporary specialty items
Jewelry	Tobacco
Apparel	Weapons, ammunition, air guns, gun accessories, and hunting supplies
	Wireless services plans
	1-Hour Photo

Does Walmart Offer Other Installment Plans?

Installment plans or other buy now, pay later options are available for Walmart purchases if Affirm doesn’t meet your needs or Affirm does not approve you. You will be able to try Klarna, Zip, and Paypal Pay in 4.

Klarna and Zip can both be used for in-store purchases, while Paypal Pay in 4 can be used for online purchases.

All three require repayment sooner than Affirm does, with repayment generally being required in 4 payments over a period of up to 6 weeks, so they’re good options if you will have the money available soon.

Does Walmart Offer Afterpay?

Walmart doesn’t offer Afterpay as an option to make payments online or in-store; however, Afterpay offers a virtual Mastercard, which can be used to make purchases at any online store whether they are signed up with Afterpay or not.

If you want to use Afterpay to purchase from Walmart, go to the Walmart website, select all of our items, and checkout, then use the Afterpay Mastercard details in your Afterpay app to provide payment. 

As far as Walmart is concerned, this is just another Mastercard and will be accepted if your balance is sufficient.

How Does Buy Now, Pay Later Affect Credit Score?

Affirm will do a soft credit check which does not affect your credit score, and you’ll be more likely to be approved if your credit score is above 640. If you go ahead with the payment plan, then your credit score can be impacted.

Zip and Klarna don’t do credit checks and won’t affect your credit; however, they do keep internal records of your usage and any late payments, which can impact your use of the service in the future.

Paypal will do a soft credit check when you apply, but it won’t affect your credit score.

Does Walmart Charge Interest For Buy Now, Pay Later?

Walmarts primary payment plan service is Affirm, and you will need to pay interest on your purchases, which will be between 10%-30%.

For example, a $150 purchase at 20% APP over 12 months maybe around $13.92/month.

Other Buy Now, Pay Later services such as Klarna, Zip, Afterpay, and Paypal will not charge interest but will charge late fees if you cannot pay the full amount in your set timeframe.

Does Walmart Offer Layaway?

Walmart has historically offered layaway during certain times of the year, but starting in 2020, they have phased layaway out and replaced it with Affirm.

The risk is removed from Walmart by removing layaway, and the third-party providers handle any payment issues. It also means that Walmart doesn’t need to store items to cover layaway requirements, and customers can instantly get their items through Buy Now, Pay Later.

Does Walmart Offer Payment Plans?

Walmart doesn’t directly offer payment plans and phased out its layaway plan. However, Walmart has partnered with a number of third-party providers who offer buy now, pay later services to consumers, which allows customers to instantly get what they need without waiting.

Each Buy Now, Pay Later provider offers slightly different options that can be matched to your needs, so don’t instantly assume that Affirm is better than the others and make the right choice for your finances.

	Monthly Fee	Limit	Repayment Time	Interest	Late Fees
Affirm	$0/Month	$144 – $2000	3 – 12 Months	10% – 30%	N
Klarna	$0/Month	Variable	4 Weeks	0%	$7 / Item
Zip	$7.95/Month	$350 – $1000	4 Weeks	0%	$5 / Item
Paypal	$0/Month	$30 – $1500	6 Weeks	0%	N
Afterpay	$0/Month	$2,000	6 Weeks	0%	$10 / Item + $7 7 days later

Affirm Is Best For

Affirm is best for people with a reasonable credit score (650+) who want to pay for larger purchases over an extended period of time, from 3 to 12 months, and are willing to pay 10% – 30% APR on that purchase. 

Paypal Pay in 4 Is Best For

Paypal Pay in 4 is best for people with good credit scores who can pay off their purchases within six weeks but want the convenience of no late fees if a payment is missed.

Klarna, Zip, and Afterpay Are Best For

Klarna, Zip, and Afterpay are best for people that can pay off their purchases within 4-6 weeks and are willing to accept a late fee if they’re not able to pay one or more of their payments.

The shorter-term Buy Now, Pay later services are great for no interest, but the late fees can add up to more than the interest Affirm would have originally charged.