Costco launches 'Buy Now, Pay Later' service for online purchases (www.goodmorningamerica.com)

submitted 3 weeks ago by [email protected] to c/[email protected]

44 comments fedilink hide all child comments

Costco is introducing its own "Buy Now, Pay Later" program.

The wholesale retail chain will offer a payment plan option on some online purchases through its payment partner Affirm.

Buy Now, Pay Later programs offer flexibility to customers and let them purchase products by paying for them over a specified time period.

Costco's Buy Now Pay Later program can be applied to transactions on its website that total between $500 and $17,500, with repayment periods ranging from three to 36 months.

The new Buy Now, Pay Later option will also charge interest, with APR rates between 10% and 36%. A $500 purchase at 20% APR, with payments spread out across 6 months, for example, will cost $88.27 per month and the original $500 item would cost $529.61 overall.

Payments must be made through Affirm's app or website but customers can also set up automatic payment deductions.

A Buy Now, Pay Later plan can help stretch a large purchase, such as an electronic device or home appliance, across multiple months and paychecks, but there may be penalties for customers. Missing Buy Now, Pay Later payments or paying installments late can hurt one's credit score.

The 2030's Costco Bubble

you are viewing a single comment's thread
view the rest of the comments

[-] [email protected] 42 points 3 weeks ago

imagine bulk buying shit from a discount retailer that charges a members only annual fee, only to completely negate the discount through consumer credit financing.

I don't even get what type of customer this is for, except I guess people who were told Costco is a good deal, but don't really understand how to not fuck themselves.

also, I guess like emergency household / home business appliance replacement for people with weird credit?

I feel like so much "consumer credit innovation" in the US is from people looking at how much $ payday loan type places make in pure profit and trying to get in on the action.

this post was submitted on 23 May 2025

92 points (100.0% liked)

news

24117 readers

854 users here now

Welcome to c/news! Please read the Hexbear Code of Conduct and remember... we're all comrades here.

Rules:

-- PLEASE KEEP POST TITLES INFORMATIVE --

-- Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed. --

-- All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. --

-- If you are citing a twitter post as news please include not just the twitter.com in your links but also nitter.net (or another Nitter instance). There is also a Firefox extension that can redirect Twitter links to a Nitter instance: https://addons.mozilla.org/en-US/firefox/addon/libredirect/ or archive them as you would any other reactionary source using e.g. https://archive.today/ . Twitter screenshots still need to be sourced or they will be removed --

-- Mass tagging comm moderators across multiple posts like a broken markov chain bot will result in a comm ban--

-- Repeated consecutive posting of reactionary sources, fake news, misleading / outdated news, false alarms over ghoul deaths, and/or shitposts will result in a comm ban.--

-- Neglecting to use content warnings or NSFW when dealing with disturbing content will be removed until in compliance. Users who are consecutively reported due to failing to use content warnings or NSFW tags when commenting on or posting disturbing content will result in the user being banned. --

-- Using April 1st as an excuse to post fake headlines, like the resurrection of Kissinger while he is still fortunately dead, will result in the poster being thrown in the gamer gulag and be sentenced to play and beat trashy mobile games like 'Raid: Shadow Legends' in order to be rehabilitated back into general society. --

founded 4 years ago

MODERATORS

[email protected]