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.
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.