“Buy now, pay later” – doesn’t it sounds interesting? The popular form of deferred payments is gaining more and more supporters. It can be considered a modern version of notebook shopping.
How does Affirm work at Walmart?
Walmart Supercenter is one of the largest retailers in the US that is partnering with Affirm. Affirm is a service that allows you to postpone the payment date for purchases usually by 3, 6 or 12 months, without any costs.
For the consumer, Walmart Affirm is a synonym of convenience and the opportunity to save funds. This will be the case when we notice an interesting promotion for a product for which we currently have no money. Affirm at Walmart will allow for immediate purchase and repayment of the liability, when, for example, a salary appears on our account.
Advantages of Walmart Affirm
Walmart Affirm, although it has been available on the American market for a short time, have won over a crowd of satisfied consumers. All this thanks to their comfort, simplicity and efficient operation.
- The biggest advantage of Walmart/Affirm is, of course, their … deferment! Many of us have thought about buying our dream product more than once, although in the back of our heads we could hear “payment only in a week!”.
- Equally many customers are wondering every day whether to buy product A or product B. Which one will be better? Which will prove to be the right purchase? If only you didn’t have to pay for both of them right away …
- American operators of online payment systems faced the daily dilemmas of millions of consumers, offering their customers deferred payments services. Thanks to them, we will have to pay for purchases only after 3, 6 or 12 months – unless we decide to return them earlier.
- As the administrators of Affirm promise, the very verification of the customer and his access to Walmart Affirm service takes place in real time and takes literally a few seconds. Thanks to this, our online purchases do not last forever, and we can enjoy the convenience of the transaction.
- Mobile app. Modern technologies allow you to pay for purchases directly using your phone. You can also set up automatic payment so that on the desired payout date, the funds themselves are debited from the account.
- Credit card alternative. The biggest difference from credit cards is the fact that you don’t have to pay extra fees and charges. You just use the Walmart Affirm service and pay only the amount you spent within the agreed time
Is Walmart Affirm safe?
Deferred payments at Walmart are offered by Affirm that operates in accordance with the law and regulations. It is a professional entity – it is hard to imagine that such a large sales network, such as Walmart, would cooperate with unknown and unverified partners.
Therefore, when we buy in popular sales networks, we have nothing to fear. In addition to the very issue of trust in the provider of deferred payments, it is also worth carefully analyzing your financial situation. Walmart Affirm system may be associated with some free purchases as you get the product without paying for it. However, the liability will have to be returned, and it may be increased by additional interest when we exceed the “free period”. As is the case with free loans or credit cards.
How to apply for 0 % APR Affirm?
You can get financing at 0 % APR thanks to Walmart Affirm. However, this offer may not be available for all products and not for all customers. To be eligible, you must obtain approval from Affirm. If approval is not received, then APR for the Walmart Affirm service is from 10% to 30%.
The APR is one of the most important indicators that expresses the total cost of a given loan as a percentage. The Annual Percentage Rate determines the percentage ratio of the total cost of the loan to its amount, i.e. the sum of money that we borrowed from the company. The APR is not the same as the interest rate. Unlike the nominal interest rate, which companies usually promote their loan offers, the APR takes into account almost all fees related to granting the loan, not only the margin and the reference rate.
For example, let’s say you want to borrow a $2,000 washing machine with an annual percentage rate of 15 %. Considering that Walmart Affirm does not charge a service fee, you only pay interest. To find out how much APR will be for this loan, given the fact that you plan to pay it off within 12 months, you need to use the formula:
APR = (( fees + interest / principal loan amount / number of days in loan term) x 365) x 100
What goods can I finance with Walmart Affirm?
In 2022, you can use Affirm at Walmart for:
- Home Improvement
- Sports & Outdoors
- Video Games
- Musical Instruments
- Arts & Crafts
Still, you cannot use Affirm to pay for:
- Groceries and Food
- Personal Care
- Pet Supplies
- Baby Consumables
- Health, Pharmacy and Wellness
- Wireless Services Plans
- Money Services
- Temporary Specialty items
- Air guns, ammunition, weapons, hunting supplies and gun accessories
- Miscellaneous Supplies
- 1-Hour Photo
Can Walmart Affirm affect my credit score?
Many customers who start using Walmart services do not quite understand how this service works. A firm is a kind of loan, which, like any financial obligation, is important to fulfill on time. usually this service does not provide the possibility of deferment, so it is very important to plan your finances and pay everything on time in order to avoid additional charges and a deterioration in your credit rating
How much can a Walmart Affirm be made?
The minimum and maximum amount of Affirm depends on individual specific retailers varies. Usually, however, Walmart introduces certain maximum purchase – $2,000.
How to apply for 0% APR Affirm?
To buy goods with 0% APR, you need to provide your credit score, any prior use of Affirm and for how long you’ve had an account.
How much does Walmart Affirm cost?
If you don’t get the opportunity to apply for Affirm 0 % APR, the cost of you Walmart Affirm will vary from 10% to 30% APR.
Thus, the advantages of Walmart Affirm are:
- being able to make purchases before receiving your salary;
- the possibility of returning some or all of the goods without any consequences;
- option to divide the payment into installments;
- opportunity to use an offer of 0% APR;
- the service itself is free.