Goodbye layaway and say hello to the new Affirm Payment Plan this holiday shopping season at Walmart.

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The big retail giant has just announced that they are no longer going to be offering a layaway plan but will offer a new "buy now, pay later" option. This is a third-party option (almost like a loan) where you will be billed every month.

With this new Affirm plan, you can buy online or shop in the store, when you check out will be prompt to pick the Affirm plan and then set up a payment plan based on your total purchase. For carts between $144–$799.99, you may be able to finance your purchases over 3, 6, or 12 months*. For carts between $800–$2,000, you may be able to finance your purchases over 12, 18, or 24 months. You can make your payments through or through the Affirm app. The BIG difference, you are now paying 10-30% of interest, but they won't be any late fees.

Affirm always shows you the exact terms (subject to your eligibility) and the total amount of interest you will pay, never charging you anything extra. Unlike most credit cards, Affirm does not charge any fees. That means no late fees, no prepayment fees, no annual fees, no hidden fees, and no service fees to open or close your Affirm account.

Here's what you can and can not purchase through the new Affirm Plan.

Eligible for Walmart/Affirm Financing:

  • Electronics, such as laptops, TVs, iPhones, video gaming, and more
  • Home, such as mattresses, furniture, and more
  • Home improvement and tools
  • Auto
  • Sports and outdoors
  • Toys
  • Baby
  • Apparel
  • Jewelry

Ineligible for financing:

  • Pharmacy, health, and wellness
  • Groceries and food
  • Alcohol
  • Tobacco
  • Baby consumables
  • Pet supplies
  • Wireless services plan
  • Gasoline
  • Weapons and accessories

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