Can you use Affirm instore Walmart?

Affirm is a buy now, pay later service that allows shoppers to split purchases into monthly payments. It has become an increasingly popular payment option, especially among younger shoppers looking for alternative financing. But can you use Affirm if you’re shopping in-store at Walmart? Here’s what you need to know.

What is Affirm?

Affirm is a financial services company founded in 2012 that offers installment loans to consumers. When checking out with Affirm, shoppers can split the total purchase amount into biweekly or monthly payments over 3, 6, or 12 months. Unlike layaway which requires you to pay the full amount upfront, Affirm allows you to take home the items immediately and pay for them over time.

To use Affirm, shoppers go through a soft credit check that does not impact their credit score. If approved, they only need to pay taxes and the first payment at checkout. Affirm does not charge any late or hidden fees. It generates revenue by charging merchants a fee for each transaction.

Affirm is accepted at over 100,000 retailers including Walmart, Target, Amazon, and more. It is designed as an easy financing option for bigger online purchases, letting shoppers pay off items gradually rather than all at once.

Can You Use Affirm In Walmart Stores?

Yes, Affirm can be used for purchases made in-store at Walmart locations across the United States. Walmart began offering Affirm as an in-store payment option in all of its U.S. stores in December 2021.

To use Affirm at Walmart stores, shoppers must first download the Affirm app on their smartphone. This allows you to get pre-approved for a spending limit. In the app, you can generate a reusable Affirm virtual card number to use for in-person Walmart transactions.

When checking out at the register, simply provide the cashier with your Affirm virtual card number. The purchase amount will be withdrawn from this card and you can then set up repayment installments on the Affirm app.

Advantages of Paying with Affirm

There are several potential benefits to using Affirm instore at Walmart:

  • Avoid paying the full amount upfront – Affirm allows you to split up payments over time
  • No interest or fees with shorter term loans – Affirm charges 0% APR for its 3 and 6 months loans
  • Instant transaction approval – Get a real-time approval decision when using Affirm
  • Establish credit – Affirm reporting to credit bureaus can help build your credit score
  • Manageable payments – Spreading out payments makes items more affordable and manageable

Limitations of Using Affirm

However, there are some potential downsides to keep in mind when using Affirm at Walmart:

  • Interest charges on longer 12 month loans – There is a 12.99%-29.99% APR on 12 month Affirm loans
  • Virtual card use only – Affirm cannot be used with Walmart Pay or added to the Walmart app
  • May encourage overspending – Splitting up payments could lead some shoppers to buy more than they can reasonably afford
  • Smartphone required – You need a smartphone to access the Affirm app and virtual card numbers
  • Walmart only – The instore option is currently limited to Walmart and does not work with other retailers

Eligibility Requirements

To qualify for Affirm financing, there are a few requirements shoppers must meet:

  • Be at least 18 years old
  • Have a valid Social Security Number
  • Have a bank account or debit card
  • Meet Affirm’s underwriting criteria based on creditworthiness

Affirm generally has more flexible approval requirements than most credit cards. Even borrowers with thin credit files or low credit scores may be eligible. Maximum purchase amounts vary based on your approved Affirm spending limit.

The Affirm App Sign Up Process

Using Affirm for the first time requires downloading the Affirm app and creating an account. Here are the steps for the sign up process:

  1. Download the Affirm app from the App Store (iOS) or Google Play Store (Android)
  2. Tap “Sign Up” and enter your phone number or email address
  3. Enter your name, date of birth, and the last four digits of your SSN
  4. Review and agree to Affirm’s Terms of Service
  5. Link a bank account or debit card
  6. Verify your email address

Setting up an account takes just a few minutes. Affirm will perform a soft credit check that won’t affect your credit score. If approved, you’ll immediately get a reusable virtual Affirm card number that works at Walmart.

How to Pay at Walmart with Affirm Instore

Once signed up for Affirm, you can complete purchases at Walmart stores in just a few steps:

  1. Open up the Affirm app and locate your virtual card number
  2. Give the cashier your Affirm card details when checking out
  3. The purchase amount is deducted from your Affirm account
  4. Select a repayment plan schedule on the app
  5. Make your first scheduled payment to Affirm
  6. Continue making payments until the balance is repaid

The entire checkout process is quick and seamless when paying with the virtual Affirm card. Repayment terms can be customized in the app based on your budget and preferences.

Covering Returns or Exchanges

If you need to return or exchange an item bought at Walmart with Affirm, the refund or exchange value will be credited back to your Affirm account. Here is how returns and exchanges work when you pay using Affirm at Walmart:

  • Initiate the return or exchange at Walmart as you normally would
  • When the refund is issued, the money will be credited to your Affirm account balance
  • If your exchange is a different amount, the price difference will be applied to your Affirm account
  • Your monthly payment amounts may be recalculated based on any credits or additional costs
  • Continue making payments as scheduled until the balance is paid off

Refunds or exchanges should be credited to your Affirm account within 1-3 business days after being processed by Walmart. Your repayment term length remains the same.

Shopping Tips When Using Affirm at Walmart

To make the most of the benefits when using Affirm for Walmart purchases, keep these shopping tips in mind:

  • Stick to a budget – Determine what you can realistically afford to avoid overspending
  • Use it for larger purchases – Affirm loans often work best for bigger ticket items like electronics or furniture
  • Compare repayment plan options – Crunching the numbers can help you select the best term length
  • Look for 0% APR offers – Shorter 3-6 month terms from Affirm come with no interest
  • Set payment due date reminders – To avoid missed payments and credit damage
  • Pay it off early – You can pay off the full balance early with no prepayment penalties

Using Affirm at Walmart strategically can help you afford big purchases while building your credit. But always borrow within your budget to avoid getting in over your head.

Pros of Paying with Affirm at Walmart

Here are some of the main benefits of using Affirm instore at Walmart:

  • More flexibility – Affirm gives you months to pay rather than paying 100% upfront
  • Zero interest – Many Affirm term lengths (3, 6 months) have a 0% APR
  • Instant approval – Get approved and pay all in one seamless transaction
  • No credit damage – Declined applications don’t negatively impact credit scores
  • Build credit – Affirm reports to credit bureaus, helping establish credit history
  • Low fees – No interest, late fees or penalties with Affirm

For shoppers needing extra time and flexibility to pay for purchases, Affirm can make buying big ticket Walmart items more affordable.

Cons of Paying with Affirm at Walmart

However, there are also some downsides to consider with using Affirm at Walmart:

  • Higher cost long term – The 12 month term length comes with up to 29.99% APR interest
  • May overspend – Easy financing options could lead to buying more than you need or can afford
  • Virtual only – Affirm card lacks wider uses like Tap to Pay or Walmart Pay
  • Creditcheck required – Approval is not guaranteed and another credit check could negatively impact score
  • Missed payment fees – While rare, Affirm charges up to $25 for missed installment payments

While Affirm makes purchases more convenient, take care not to overextend your budget. Be diligent about making on-time monthly payments.

Frequently Asked Questions

Does Walmart offer Affirm?

Yes, Walmart began offering Affirm as an in-store and online payment option in December 2021. It can be used at any Walmart location.

Can I use Affirm for grocery pickup?

Unfortunately no, Affirm currently cannot be used for Walmart Grocery Pickup & Delivery orders. You can only use it when checking out in-store or for merchandise purchases on Walmart.com.

What is the spending limit with Affirm?

Affirm spending limits range from $50 to $10,000 based on your credit profile and approval amount. Purchases over your limit require splitting into multiple transactions.

Does Affirm work with Walmart Plus?

No, Affirm is not compatible with the Walmart Plus credit card or membership program. It can only be used as a separate standalone payment method.

Can I use Affirm for repeat purchases?

Yes, your reusable virtual Affirm card can be used for multiple purchases at Walmart. Each will have separate repayment plans.

Conclusion

Paying with Affirm is a viable and convenient option for financing big ticket Walmart purchases. By splitting repayments over 3, 6 or 12 months, shoppers can take home items immediately while budgeting the total cost over time. However, the higher interest longer term loans can make Affirm an expensive option overall. Use Affirm strategically for affordable financing but take care not to overspend or take on debt you can’t reasonably repay.

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