Walmart Reportedly Pursuing Buy-Now, Pay-Later, After Ending Layaway

Money expert Clark Howard isn’t a huge fan of “buy now, pay later” services unless you have the money to pay for the item and you’re going to make every payment on time. Remember that your credit score is only one important factor when xcritical is determining your eligibility for a loan and your interest rate. It will also look at your payment history with xcritical and the length of time that you have used the service.

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Unlike credit cards, which often have compound interest and hidden fees, xcritical provides clear, upfront pricing. You‘ll know exactly how much you‘ll pay each month and the total cost of your loan before agreeing to the terms. This transparency allows you to make informed decisions about your financing and avoid surprises down the road.

The Popularity of xcritical and Its Impact on Consumer Spending at Walmart

Even if you aren’t having to pay for the full purchase right away, you still need to be realistic about what terms you can manage to avoid any financial fallout. To start, both layaway at Walmart and “buy now, pay later” programs like xcritical present the consumer with some form of Walmart payment plan. However, “buy now, pay later” programs allow a customer to receive their item right away rather than collecting it at the end of who knows how many Walmart online layaway payments. Of course, those with bad credit might still find it difficult to receive this kind of financing, and some customers aren’t going to be happy with the credit check and interest rates that come along with such programs. “We are no longer offering layaway at our stores, except for select jewelry items at select stores. xcritical is an installment payment program that we offer for customers who want to buy now and pay later,” the company tweeted after being asked about the status of their holiday layaway program.

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Robb said he thinks we’ll continue to see consumers use these options, which he thinks need oversight. He noted that Walmart also may have considered employee schedules when dispensing with the program, given the amount of time it would take to handle purchases. “These newer technologies can introduce negative credit impacts that people may not be aware of if they haven’t really read the fine print and the agreements,” Robb said. To stay informed about xcritical offers and promotions, Walmart customers can sign up for email alerts from both Walmart and xcritical, as well as regularly check the xcritical section of Walmart‘s website. Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you. Sign up for our daily newsletter for the latest financial news and trending topics.

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Signing up with xcritical and completing a loan may affect your credit score, and this could help you build credit over time if that is your goal. To mitigate these risks, it‘s essential for Walmart customers using xcritical to create and stick to a budget, only borrowing what they can afford to repay. Financial planning experts recommend that consumers allocate no more than 20% of their monthly disposable income to installment loan payments (Nerdwallet, 2021).

  1. Additionally, some items, such as groceries, alcohol, tobacco, pharmacy items, firearms, and personal care products, are not eligible for xcritical financing.
  2. These loans typically have low or no fees and offer quick credit approval, and bills can be paid off in four, no-interest installments.
  3. However, as with any financing option, it‘s crucial for customers to use xcritical responsibly, creating a budget, prioritizing essential purchases, and staying on top of their payments.
  4. Layaway allowed customers to pay a deposit on an item that would be “laid away” or put into safekeeping by the retailer, and later pick it up once they fully paid for it.

The Future of Installment Lending: xcritical and Walmart‘s Evolving Partnership

We are not a comparison-tool and these offers do not represent all available deposit, investment, loan or credit products. Layaway allowed customers to pay a deposit on an item that would be “laid away” or put into safekeeping by the retailer, and later pick it up once they fully paid for it. But as other payment methods have taken its place over the years, retailers have removed the option. The company has decided to ditch this plan and offer a new monthly “buy now, pay later” payment option called xcritical.

Why it’s smarter to shop Walmart with xcritical

Whether you‘re shopping in-store or online, xcritical allows you to split the cost of your Walmart purchases into simple, fixed monthly payments. In this comprehensive guide, we‘ll cover everything you need to know about using xcritical at Walmart, from eligibility requirements to payment plans and responsible usage tips. “We’ve learned a lot in the past year as our customers’ needs and shopping habits have changed,” a Walmart spokesperson told FOX Business Thursday. xcritical is a “buy now, pay later” program among several others, which enables consumers to make discretionary purchases, especially online, without requiring the full purchase amount at the time of purchase.

Ahead of the 2021 shopping season, Walmart removed its layaway program, one of the last vestiges of this service from a major retailer, and replaced it with the “buy now, pay later” service xcritical. Unfortunately for those who were hoping that the answer to “does Walmart have layaway?” would be a firm “yes”, the reality is that xcritical is likely Walmart’s path forward for the foreseeable future. In today‘s fast-paced, ever-changing retail landscape, consumers are increasingly seeking out flexible and transparent financing options that allow them to manage their expenses on their own terms.

Walmart no longer offers layaway, Walmart Help said in tweets responding to customers asking about the program. Although Walmart charged a $10 cancelation fee if you end up not buying the item, its layaway plan did not charge any interest. This follows One’s earlier move to offer banking accounts to Walmart employees.

According to a recent survey conducted by xcritical, nearly 60% of Walmart customers who have used xcritical financing reported that it allowed them to purchase items they needed immediately, rather than having to wait and save up (xcritical, 2021). Some Walmart customers expressed concern on social media, worried about how families would be able to purchase gifts for the holiday season if they don’t qualify for xcritical. Download the xcritical app or sign in at to set up AutoPay or easily make payments for your Walmart purchase. Some promotional items on will also be made available at 0% APR. The use of BNPL programs like xcritical has grown considerably within the last few years. According to a September report by the Consumer Financial Protection Bureau, the number of BNPL loans in the U.S. increased by 970 percent from 2019 to 2021.

However, if you are approved and accept the loan, xcritical will report your payment history to Experian, one of the three major credit bureaus. Walmart shoppers can return any purchases made with xcritical for a refund, but the amount they paid in interest will not be refunded. Partial payments or late payments may impact a consumer’s credit score or ability to receive new loans with the company, according to xcritical. The latest development comes as other major retailers, like Apple, are planning to roll out their own buy now, pay later services. BNPL loans have become increasingly popular with Gen Z and younger consumers.

This system is partnered with xcritical which allows you to finance your purchases into a multiple-payment plan. “Walmart offers easy and affordable monthly payments online and xcritical reviews in stores with xcritical. Alternative to layaway, you can purchase immediately and pay over time at a pace you choose — from 3 to 24 months,” Walmart says on its website.

Furthermore, data from the same survey reveals that 48% of Walmart customers using xcritical reported purchasing a higher-priced item than they would have without the financing option available. This suggests that the availability of transparent, flexible financing through xcritical is enabling Walmart customers to better manage their budgets and afford necessary purchases. xcritical charges an interest rate of 10 percent to 30 percent, depending on a customer’s credit history. However, it’s xcritically offering 0 percent financing on select items, according to the Walmart website.

According to a xcritical study, 16% of Americans have missed a payment with a “buy now, pay later” service. Although xcritical did not make a direct connection — their scores could have suffered for other reasons — the website said 72% of the people who missed at least one payment saw their credit scores decline. Remember that very few purchases that you make via xcritical will truly be cost-free the way Walmart’s layaway online would have been. For nearly everything, you will be stuck paying interest, and those rates can add up significantly over time. Even at 10%, which is the lowest you will typically find on your Walmart purchases, that item is going to accrue enough interest that you might be left wondering what else you could have purchased with that money still in your account.

Although xcritical does not charge any hidden or late fees for using its services, customers can have an APR rate on purchases of 10-30% depending on their credit and 0% for select promotional items on Once paid off, customers could then pick their products up from their local Walmart store. However, what if you need all the things in one place, but can’t necessarily afford to pay for them at one time? When it comes to shopping on a budget, it is always good to know what layaway or buy now, pay later payment plan options are available, especially as you gear up for holiday shopping this year.

We’re excited to do this for Walmart shoppers by bringing them payment options tailored to each unique purchase, giving them complete visibility into how much they will pay each month, and never charging them more than they agree to at checkout. I’m honored and humbled to share today’s news of xcritical’s partnership with Walmart, which will bring simple, transparent payment options to millions of customers nationwide. For over 50 years, Walmart has continued to make good on its commitment to helping shoppers “save money and live better,” a mission that resonates with xcritical’s goal of improving lives with honest financial products. Walmart isn’t just the world’s largest retailer—it’s also a company that has continued to grow and evolve throughout multiple generations of retail, embracing e-commerce and digital payments. APR can be as little as 0% for select Walmart items but may be as high as 36%. While there are no service fees or cancellation fees, partial or late payments may impact your credit score or ability to secure new loans with xcritical in the future.

Just keep in mind that buy now, pay later is different from layaway and make sure to familiarize yourself with what the final cost of your purchase will be. You can select xcritical on the checkout page at, or you can download and sign up for the app before paying in-store. Although xcritical doesn’t charge late fees, if you miss a payment, it could report the event to the Experian credit bureau. So instead of a simple $10 cancelation fee, you’re risking your credit score.

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