Costco is one of the most affordable and reliable retail stores. With more than 108 million membership holders, Costco is growing every day. The warehouse retailer chain provides regular discounts, quality products, and many other services for its customers, Let’s learn ‘Does Costco Accept Affirm?’.
If you visit Costco regularly, you must be aware that Costco provides its customers with many payment options that range from Credit cards to EBT(Electronic Benefits Transfer) and mobile payment options like Google pay. As of now, Costco does not accept any Payment plans like Affirm, but Costco does have a plan to extend your payments.
What is Affirm?
The ‘Buy now, Pay later’ system has made shopping fancier, with consumers choosing to pay for their products later and enjoy instant gratification. Buy now, pay later is still a new concept for many, where companies like Affirm, After pay, etc., will pay for your purchase, and you will return that amount later with interest to them.
Affirm is one such ‘Buy now and pay later’ financial company that helps its consumers buy products that they cannot afford and choose to pay back later, in installments. Many brands such as Adidas, Nike are accepting Affirm as a payment option. Costco is yet to accept Affirm, but for now, you can use your Citibank visa card to extend payments at Costco.
Costco ‘Buy now Pay later’ Payment service
Costco does not accept the Affirm ‘Buy now pay later’ payment plan, but Costco does provide its customers an option to extend their payment. Here is how you can do that.
- Buy a Costco membership card, in case you don’t have one.
- Apply for a Costco Anywhere visa credit card by Citibank.
- Next time when you shop at Costco, use your Costco Anywhere Visa credit card to pay for your purchase.
- Citibank offers monthly payment plans for its Costco Anywhere Visa cardholders.
- You can use this card as a substitute for your Costco Membership card, and you can make payment at any Costco store in the world using your Costco Anywhere Visa credit card if they accept Visa cards.
Advantages of Costco Anywhere Visa Credit card
- Customers can avail special cashback offers when they pay using a Costco Anywhere Visa credit card.
- Costco Anywhere Visa credit cardholders enjoy an extended warranty on certain products.
- Customers can enjoy protection on certain items, access to event tickets, and extra benefits when they pay using Anywhere Visa Card.
- The best part is that there is no Annual fee on Costco Visa cards.
Using Zip as an Alternative
You might not be able to pay at Costco using Affirm, but you can use Zip, previously known as Quadpay, as your Buy now Pay later option. According to Zip.co, you can purchase from any Costco store or Costco online and pay using Zip in 4 installments up to 6 weeks.
How does Affirm Buy now Pay later work?
Apps such as Affirm or After Pay offer lucrative deals to their customers. Their working mechanism is simple. A customer can purchase anything and pay using Affirm virtual credit card from the Affirm app. Later, the customer can repay the loan using bi-weekly or monthly installments. Usually, there are no interest charges if you pay back within the given time.
If you fail to pay back your loan amount, Affirm might demand interest charges on late repayment, and if you keep delaying, this can affect your credit score badly. The catch is that Buy now Pay later services such as Affirm offers only microloans so, you don’t have to worry about a debt trap, and it’s easy to pay back.
Which retailers are accepting Affirm?
Costco does not accept Affirm as of now. But there are some other supermarket stores where you can pay using Affirm. They are:
1. Walmart- Walmart accepts Affirm as a payment option where customers can choose to pay back in installments of 3, 6, 12, or 24 months.
2. Target- Customers can pay using Affirm at Target stores. They can choose various installment options to pay later for their purchase.
3. Amazon.com- Amazon customers can use Affirm to pay for their purchases later.
4. Lowe’s – You can buy anything from Lowe’s using the Affirm installment payment option.
Other retailers such as Neiman Marcus, Pottery Barn, Peloton E-commerce also provide Affirm Pay later options.
To Sum up
Costco does not accept Affirm, but you can use their Costco Anywhere Visa Credit card to extend your payment or Zip to enjoy Buy now pay later services. Buy now and paying later with Affirm sounds great, but beware because you might end up buying unnecessary items or things that you don’t need. So, use Affirm only for your Emergency purchases. If not Costco, you can go to Target or Walmart to pay using Affirm.
Frequently asked questions
1. What are Buy now Pay later options does Costco accept?
A. Costco accepts Zip, previously known as Quadpay, or you can also use Costco Anywhere Visa credit card to pay later.
2. Where can I pay using Affirm?
A. Many retailers such as Walmart, Target, Lowe’s, Amazon are accepting Affirm. You can visit www.Affirm.com to know all the retailers accepting Affirm.
3. How long can I extend my payment using Costco Anywhere Visa Credit Card?
A. Costco Anywhere Visa Credit card is just like any other credit card. So, you have to pay your bills monthly. The advantage is that you can earn cashback and discounts using a Costco visa Credit card.