12/23/2023 0 Comments Buy now pay later shopping![]() No other options available besides pay-in-4įees: None, although late fee is up to $8 Participating grocery stores limited to small, specialty food retailers ![]() Virtual card saves to Apple Wallet or Google Wallet No interest or hidden fees if you make payments on time While the pay-in-4 option has no fees to use over six weeks, be sure to stay on top of your payments or you could incur late fees. To shop at brick-and-mortar stores, you’ll need to set up a digital card to keep in your Apple or Google Wallet. The entire process is handled through the user-friendly mobile app. ![]() More: 7 Bulk Food Items You Need To Be Buying at Costco This Fall Afterpay: Best for Foodies Who Prefer Specialty Food ShoppingĪfterpay is a BNPL option for users who prefer shopping from specialty food stores. Grocery stores: Target, Walmart, BJ’s Wholesale Club Payment terms: Pay in 4 (four payments every two weeks) or monthly installments Interest rates can be high for longer-term plansįees: Up to 36% APR based on credit for monthly payment plans, no fees for Pay in 4 Affirm’s strongest suit is its major-retailer options for grocery shopping including Target, Walmart and BJ’s Wholesale Club. Or for physical stores, an Affirm virtual card is available for payment. When you shop from the list of thousands of approved retailers, you’ll see the option to use Affirm online at checkout. Affirm: Best for No-Fee Walmart Grocery ShoppingĪffirm is a great option for online or grocery store shopping. Affirm's upfront details and different ways to shop, including a browser extension, make this easy.Take a closer look at GOBankingRates’ picks for five great Buy Now, Pay Later services you can use to buy groceries. Not every product from the store is available with Affirm, and some products may have different terms than others (something that's true for all BNPL apps), so look at the details. You can also shop at Best Buy, eBay, Walmart, and Adidas. You can use its interface to shop Amazon deals, look up Saks products, purchase a Delta flight package, and more. ![]() You can also use the Affirm service to get pre-qualified for financing, which can help you save a little bit of time, then enable an autopay so that you don't miss deadlines after your first payment.Īffirm supports tons of retailers, from smaller boutiques to well-recognized brands. The ideal way to avoid interest is dividing payments into four total, made every two weeks. You can see each payment plan option, the APR, and your total payment at the end of the plan, so you can see how much you'll save by not paying any interest. The clear-cut interface doesn't hide any of the facts like you may be used to with credit card companies. So it's important to use BNPL apps the right way, with the expectation that you'll pay off loans with a few large payments over several months to a year at most.Īffirm's app is straightforward, which is good when exploring financing options. These rates are often so bad that you're often better off using a just-okay credit card or signing up for in-store financing. ![]() The second category of options offers loans with longer monthly payments and adds an interest rate, sometimes as high as 30% APR. These options typically don't charge interest at all, so you won't pay more than the cash value of the purchase as long as you make your payment on time (otherwise, you have to pay fees for late payments). The first category offers 0% APR (Annual Percent Rate, a way to calculate interest rates) for shorter terms that you usually pay off within a few months with larger sums of cash. Good BNPL apps typically have two categories of options. And some apps can have hidden fees that make them notably user- unfriendly. For example, some "easy" loans have high interest rates that cost more than it's worth to take out a loan. In any financing situation, the devil's in the details. ![]()
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