A lot of people rely on Walmart's layaway program for their Christmas shopping. Well, Walmart says no to that program and is replacing it with something else and unfortunately, it will cost you.

The original Layaway program was free of any fees but this new Buy Now Pay Later will cost you on interest and can cost you on your credit score if you don't keep up with the payments through the financial company Affirm.

Here's What The Payment Plans Will Look Like

According to Walmart.com the payout plans look like this:

For cart totals 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. All payment options are subject to eligibility.

There will be a promotional  0% APR for a limited time for certain items but mainly it will be  10-30% APR based on your credit. So yes, there goes the nice sweet helping hand that Walmart gave their customers during the holidays.

The eligible categories for the Buy Now, Pay Later program include electronics, toys plus home goods. So, that will help for Christmas time. Items that are not eligible are things like alcohol, gasoline and pet supplies. You can check out the entire list on their website.

How do you feel about this? Did you use their layaway plan? Will this affect your holiday shopping this year?

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