Costco shoppers: Discover the new buy now, pay later trick that could change how you shop online
- Replies 0
If you’re a Costco member, you already know the thrill of scoring a great deal—whether it’s a 30-pack of paper towels or a TV the size of your living room wall.
But what if you could make those big-ticket purchases a little easier on your wallet?
Good news: Costco has just rolled out a new “buy now, pay later” option for online shoppers, and it could change the way you shop for good.
What’s New? Costco Partners with Affirm for Flexible Payments
On May 14, Costco announced a partnership with Affirm, a leading “buy now, pay later” (BNPL) platform.
This means that when you shop online at Costco.com, you now have the option to split your payments into manageable monthly installments—no more paying the full amount upfront for those larger purchases.
How does it work?
Pat Suh, Affirm’s Senior Vice President of Revenue, put it this way: “Costco members in particular know the value of planning ahead and buying in bulk. We’re excited to offer them an alternative to traditional credit, helping them confidently manage their spending on larger purchases without hidden fees.”
Why Is “Buy Now, Pay Later” So Popular?
If you’ve noticed more retailers offering BNPL options lately, you’re not imagining things.
According to a recent Consumer Financial Protection Bureau report, about 21% of consumers with a credit record used a BNPL plan from one of the six major providers in 2022.
Earlier this year, DoorDash added Klarna—one of the leading “buy now, pay later” services—as a payment method for every order on its platform.
In March, telehealth provider FuturHealth revealed that popular weight-loss medications such as Zepbound and Wegovy can now be purchased using Affirm.
Also read: JetBlue makes booking easier with exciting new payment option!
Is This a Good Deal for Costco Shoppers?
For many in The GrayVine community, budgeting is a top priority—especially for retirees or those on a fixed income. Here’s how the new Affirm option could help:
While Affirm doesn’t charge late fees, missing payments could still impact your credit score. And while some plans are interest-free, others may charge interest depending on your credit and the length of your payment plan.
Also read: Fitness and food? Buy Now, Pay Later just expanded its offerings!
Tips for Using Buy Now, Pay Later Wisely
1. Only Buy What You Can Afford: BNPL is a tool, not a license to overspend. Make sure you can comfortably make the monthly payments.
2. Check the Terms: Look for interest rates, payment schedules, and any potential fees before you commit.
3. Monitor Your Credit: While Affirm doesn’t charge late fees, missed payments can still show up on your credit report.
4. Keep Track of Multiple Plans: If you use BNPL for several purchases, it’s easy to lose track. Set reminders or use a budgeting app to stay organized.
Source: ABC News / Youtube.
Read next: Is this the clearest sign yet that a major recession is about to hit America?
Have you tried a “buy now, pay later” service before? Are you planning a big Costco purchase and thinking about using Affirm? Or do you have tips for managing large expenses in retirement? Share your stories in the comments below!
But what if you could make those big-ticket purchases a little easier on your wallet?
Good news: Costco has just rolled out a new “buy now, pay later” option for online shoppers, and it could change the way you shop for good.
What’s New? Costco Partners with Affirm for Flexible Payments
On May 14, Costco announced a partnership with Affirm, a leading “buy now, pay later” (BNPL) platform.
This means that when you shop online at Costco.com, you now have the option to split your payments into manageable monthly installments—no more paying the full amount upfront for those larger purchases.
How does it work?
- Eligible Purchases: The Affirm option is available for online orders between $500 and $17,500.
- Installment Plans: You’ll see several monthly payment options at checkout, with the length of the plan and the item’s price determining your monthly payment.
- No Hidden Fees: Affirm promises no late fees or hidden charges—what you see is what you pay.
- Online Only: This payment option is currently only available for online purchases, not in Costco’s physical warehouses.
Costco has partnered with Affirm to introduce a “buy now, pay later” payment option for online orders. Image source: ABC News / Youtube.
Pat Suh, Affirm’s Senior Vice President of Revenue, put it this way: “Costco members in particular know the value of planning ahead and buying in bulk. We’re excited to offer them an alternative to traditional credit, helping them confidently manage their spending on larger purchases without hidden fees.”
Why Is “Buy Now, Pay Later” So Popular?
If you’ve noticed more retailers offering BNPL options lately, you’re not imagining things.
According to a recent Consumer Financial Protection Bureau report, about 21% of consumers with a credit record used a BNPL plan from one of the six major providers in 2022.
Earlier this year, DoorDash added Klarna—one of the leading “buy now, pay later” services—as a payment method for every order on its platform.
In March, telehealth provider FuturHealth revealed that popular weight-loss medications such as Zepbound and Wegovy can now be purchased using Affirm.
Also read: JetBlue makes booking easier with exciting new payment option!
Is This a Good Deal for Costco Shoppers?
For many in The GrayVine community, budgeting is a top priority—especially for retirees or those on a fixed income. Here’s how the new Affirm option could help:
- Spread Out Big Purchases: Thinking about upgrading your appliances, buying a new mattress, or splurging on a backyard grill? Now you can pay over time, making it easier to manage your monthly budget.
- No Surprises: Affirm is upfront about what you’ll pay each month, and there are no late fees or hidden costs.
- No Credit Card Required: If you prefer not to use credit cards, BNPL offers an alternative way to finance larger purchases.
While Affirm doesn’t charge late fees, missing payments could still impact your credit score. And while some plans are interest-free, others may charge interest depending on your credit and the length of your payment plan.
Also read: Fitness and food? Buy Now, Pay Later just expanded its offerings!
Tips for Using Buy Now, Pay Later Wisely
1. Only Buy What You Can Afford: BNPL is a tool, not a license to overspend. Make sure you can comfortably make the monthly payments.
2. Check the Terms: Look for interest rates, payment schedules, and any potential fees before you commit.
3. Monitor Your Credit: While Affirm doesn’t charge late fees, missed payments can still show up on your credit report.
4. Keep Track of Multiple Plans: If you use BNPL for several purchases, it’s easy to lose track. Set reminders or use a budgeting app to stay organized.
Source: ABC News / Youtube.
Read next: Is this the clearest sign yet that a major recession is about to hit America?
Have you tried a “buy now, pay later” service before? Are you planning a big Costco purchase and thinking about using Affirm? Or do you have tips for managing large expenses in retirement? Share your stories in the comments below!
