Wal-Mart Offers New No-Interest Financing
Walmart is offering a credit card that charges no interest during an initial promotional period, nor does the debt accrue interest during the promo period.
[cnxvideo id=”625451″ placement=”ros”]Wal-Mart Stores Inc. (NYSE: WMT) has done something different for its customers who have either a Walmart Credit Card or a Walmart Mastercard Credit Card. The world’s largest retailer is offering no-interest financing for periods of 6 or 12 months on card purchases.
While this may sound like similar offers from lots of card issuers, what makes this different is that not only do Wal-Mart customers pay no interest during the promotional period, interest does not even accrue during the period.
Most similar offers allow consumers to make interest-free payments for a specified period. Provided that the total bill is paid off within the period, the customer pays no interest charges.
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However, interest still accrues on the debt and if the full debt is not paid off in the specified period, the accrued interest is added to the bill. This can be a nasty surprise for many card holders.
There are some limits to Wal-Mart’s offer:
The new promotional financing offer on the Walmart Credit Card and the Walmart Mastercard Credit Card includes six months zero interest for purchases made in store of $150 to $298.99 and 12 months zero interest for purchases made in store of $299 or more.
If you shop at Wal-Mart, this could be a deal worth checking out.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
