Buy Now Pay Later Options With Walmart Prepaid Credit Card With No FeesWhen you think of the retail Giant Wal-Mart, you usually don't think of buy now pay later. The fact that the retail giant slashes its prices so low that many people don't need to use a buy now pay later option makes you wonder why it offers it to its customers. However, even with low prices offered, it does keep the buy now pay later option open for those customers online who want to take advantage of it.
Wal-Mart also still has a layaway program in its stores which is similar but different from the buy now pay later options. With the layaway program option, you can only get the items once you have paid for them. You can pay for them monthly and you lock in the sales prices as long as the item remains on layaway and you make your payments on time.
With the buy now pay later options, you get the same benefits as layaway, but you also get the items up front and pay for them over time. Your interest rate, if any, will depend on the type of deferred billing program you choose.
Use Buy Now Pay Later Options With
Wal-Mart Credit Card
You can apply for a Wal-Mart credit card either online or in stores. The credit requirements are not as strict as getting other department store credit cards or conventional Visa and MasterCard. Just like with other buy now pay later online or catalog options, you have a greater chance of getting a Wal-Mart Credit card even if you have bad credit. However, you still have to go through the credit approval process.
PayPal (Bill Me Later Service)
According to Walmart.com, you can also select the "PayPal Bill Me Later" service upon checking out through your online shopping cart. When you use PayPal's Bill Me Later service, there are no payments and no interest if the amount is paid in full within 6 months of purchase.
Here is what WalMart says about the bill me later option:
"Enjoy no payments for 6 months. You'll have 6 months with no payments, and no interest if paid in full within 6 months on orders over $250. Otherwise, interest will be charged from the original date of purchase. Bill Me Later is the quick, easy, secure way to buy online without using your credit card. Simply select Bill Me Later at checkout. Subject to credit approval."
Walmart is already a giant discounter, however, it has taken steps to address the needs of its customers. The buy now pay later option is catching on again. It used to be big a couple of decades ago with a few catalogs like Fingerhut, Montgomery Ward and Seventhavenue. However now, especially in a changing 2012 economy where customers demand more options, it's returning bigger than it was before.