Once I pay my credit cards off, I will keep them active by charging really small amounts, but will not be using them for large purchases ever again. Several friends have come to the same conclusion. Do you see layaway making a comeback as the preferred method of purchasing, over time? Do you think credit card companies might find themselves struggling for business?
Wow, I haven't heard about Layaway in a long time. My mom used it all the time when I was little. That's usually how she got our Christmas gifts. I suppose with the economy being not so great, people will use it more.
Target has always had layaway, so I imagine more online stores, especially small or one person operations, will start getting creative and figure out how to use this option effectively, with their online sales.
Recently I read somewhere that reliable old Kmart is bringing back their old lay away program. It used to be terrific for getting stuff for the kids before the start of the school year. And no interest!
I hadn't heard of it lately, but I guess it makes sense in this economy. What did surprise me in the last few weeks was hearing that Canadian Tire stores will be ending their online shopping. Can you think of any other stores that are doing that?
Layaway might be here to stay as the credit card companies face new regulations that beginning sometime in 2010. They won't be nearly as willing to give credit as they have been.
We have greatly reduced the number of our credit cards to just a couple of ones we only use once in awhile. Going cash can be painful, but in the end it's better. For some reason, Target having layaway escaped my notice! I buy lots of things at Target, and that's a good resource to have.
I don't know nearly as many people that use layaway any more. I know it's still around, but I don't see it making a popular "comeback" so to speak.
I’m not even familiar with that word. This is the first time that I have encountered that word. What does it mean?
It's when you can put the items you want to buy in a store on "hold" so to speak and just pay as much on them a week or month as you are able. When you pay the last payment, you take your merchandise with you.
I haven't noticed it there either... and I know that WalMart no longer offers it. KMart's layaway desk is still there, but no one is ever manning it, and it looks as if they use the area that was formerly for layaways for storage now.
Come to think of it a few years ago a coworker was talking about laying something away at Winners. I don't know if they still do that there, either.
The main feature of layaway, which will make it more acceptable as time goes on, is that you aren't paying interest on your item. Of course, the sooner you pay it in full, the sooner you get to take it home, but in the long run it is much cheaper than taking it home right away, then dealing with credit card payments. For those who say they pay their cards off every month, layaway would make no difference to them, unless they had an unexpected problem. Then, the credit card becomes this interest laden albatross, making layaway a better choice.
I pay the card off every month but it would certainly make a difference for bigger items, yes. I only have a few auto-pays on the credit card and use it once in a while for purchases I know I'll be able to pay that month. For a big-ticket item, though, that I *couldn't* pay off that month, I'd definitely use the layaway.
Now there's a store I've never heard of... I know, what are the chances? hehe So what's "Winners" and what do they sell? Is it perhaps a more localized business?
I hope a few online stores figure out how to do layaway. It would be great way to get ahead of the game as more brick and mortar stores start relying more on e-commerce to avoid the overhead of having a physical store front.
